Is AssangeDAO feasible? What is the community up to after nakedly donating to Pak NFT?

AssangeDAO is a decentralized autonomous organization (DAO) centered around rescuing Australian journalist Julian Assange. It collaborated with NFT artist Pak to create "Pak and Assange co-branded NFTs" as a means to donate to non-profit organizations. However, after successfully auctioning off the NFT, AssangeDAO's treasury was left empty, and the governance token JUSTICE received by donors significantly depreciated in value. What will be the next step for AssangeDAO?

Review of AssangeDAO x Pak Project

• Australian journalist Julian Assange released a large number of international government confidential documents through the whistleblowing website WikiLeaks in 2010 and is currently imprisoned in the UK.
• The formation of AssangeDAO was triggered by a successful U.S. appeal on December 10, 2021, which could lead to Assange being extradited back to the U.S. where he faces a maximum sentence of 175 years. He has been in custody for over a thousand days.
• AssangeDAO initiated a fundraising auction for an NFT artwork titled "CENSORED-CLOCK" created by artist Pak in collaboration with Assange, with the proceeds going towards funding Assange's legal fees.
• On February 8, AssangeDAO forum, named after Assange's brother Gabriel Shipton, proposed to bid the full amount raised for the CLOCK. This proposal was not universally accepted but was eventually approved.
• On February 8, the community proposed to distribute JUSTICE tokens to the community early and granting them governance rights.
• On February 9, CLOCK was ultimately won by AssangeDAO with a bid of 169,593 ETH, while the second-highest bidder offered only 4,242 ETH.
• On February 9, the community could claim JUSTICE tokens.
• After gaining liquidity, JUSTICE tokens significantly devalued, causing dissatisfaction within the community. The AssangeDAO team stated they are considering their next steps.
• On February 10, some core members with multisig rights stepped down.
• On February 12, Pak stated that the auction proceeds were transferred to the German non-profit organization Wau Holland.
• On February 13, AssangeDAO released a new plan.

Differences with ConstitutionDAO

ConstitutionDAO, which rallied around bidding for a copy of the U.S. Constitution, failed to win the bid but saw significant growth in governance token PEOPLE, resulting in profits for many donors and creating a DAO frenzy. However, many now view this model as an investment opportunity. Here are the differences between the two:

• Both AssangeDAO and ConstitutionDAO used JuiceBox to raise ETH and reward governance tokens as return, JUSTICE. JuiceBox charges a 5% fee on all ETH raised.
• Both use Gnosis Safe for multisig management, with managers including Amir Taaki, Rachel-Rose O’Leary, Fiskantes, McKenna, and Silke Noa. The initial DAO proposal involves Assange's lawyers and family in the review process. Unlike ConstitutionDAO, this DAO will continue regardless of bid success.
• AssangeDAO has no fundraising cap and has gone through two rounds; the support for Assange is indirect through bidding on NFTs to provide funding to relevant institutions rather than direct donations. Moreover, it didn't follow the typical bidding process but opted for full bidding.
• ConstitutionDAO allowed funds to be freely redeemed in case of bid failure, and many chose not to redeem. In contrast, AssangeDAO's successful bid depleted the treasury, making it impossible to redeem donations with JUSTICE or have surplus funds for DAO operations.

Next Steps for AssangeDAO

AssangeDAO faced community backlash after using all donations to purchase Pak's NFT. The uproar escalated after the decline of JUSTICE, leading to forum proposals for refunds, finding the next use case for JUSTICE, and requesting team members to burn their tokens. While many Chinese community participants expressed anger on Discord, another faction remains optimistic, believing that the governance token still holds potential. Despite facing criticism, Pak stated that he is not intimidated by the backlash against the CENSORED project.

In summary, AssangeDAO released a discussion on future plans on February 13. Rather than proposing specific next steps, they aim to establish autonomous norms defining multisig signatories, proposal rules, token minting or burning, voting cycles and periods, community roles, etc. The first community call is scheduled for February 14, with no conclusion announced yet.

DAO Equals Justice?

AssangeDAO raised donations in the name of a DAO but did not execute bidding strategies under collective will, a point of contention in this case. While the purpose was to assist Assange, it failed to meet the expectations of donors seeking autonomy or left speculators empty-handed. While JUSTICE holds governance rights, economic agency is lacking. The team aims to establish institutionalized governance mechanisms, which may evolve into a voting forum with varied expressions or a DAO without funds awaiting a new direction. Perhaps Pak's mysterious aura will breathe new life into the high-priced NFT that remains the only asset in AssangeDAO. The future development remains to be seen.

Rescuing Assange may still be an action that the crypto-capitalist society can dream of; however, many in the world still suffer from poverty, illness, and political oppression that cannot be resolved solely through economic aid.