PAC DAO Invests in DAO Coalition
PAC DAO, a decentralized autonomous organization focused on promoting public goods works, is pleased to announce a founding investment into the new DAO Coalition.
The DAO Coalition has an ambitious mission to incorporate an offline entity with the purpose of serving as an advocacy group for DAOs in the United States and globally. From their landing page…
Part of this plan is to form a US-based non-profit to pursue such an advocacy agenda at a federal level. The other part is to deliberate and decide on the best organizational form for an international group of DAO representatives, to coordinate a more global strategy for industry practices and standards. Depending on relevant regulations, there could be significant overlap in membership between the US-based DAO Coalition.
An investment into the DAO Coalition therefore fulfills an important part of PAC DAO’s mission. Part of PAC DAO’s launch goals was to help bridge between the decentralized web3 world and the real world. It’s a complicated undertaking, so the successful launch of DAO Coalition will be immensely valuable to both PAC DAO and the broader DAO community.
DAO Coalition is also funded and supported by a number of leading DAOs, including several which our organization has partnered with previously. PAC DAO previously partnered with the LeXpunK Army to promote comment on the SEC Proposed Amendments to Reg ATS. The underlying LexDAO is a member of DAO Coalition, along with other groups PAC has had organizing conversations with, including CityDAO, Blockchain Association, and Lobby3.
With DAO Coalition able to optimize itself towards representing the community’s interest in DC, PAC DAO is freed to focus more on the technology angle. PAC has already built and launched several innovations to assist web3 organization, and will continue to do so as opportunity permits.
In January of this year the DAO Coalition incorporated in Delaware, organizing as a 501(c)(4) nonprofit corporation, and is currently awaiting the review and approval of that 501(c)(4) status by the U.S. Internal Revenue Service. In supporting the DAO Coalition, PAC DAO members authorized a $10,000 donation to DAO Coalition, and joined Lobby3, LexDAO and ATX DAO as one of the four Founding Members and a leading contributor to the organization.
$5,000 was donated directly as cash, with an additional $5,000 pledged in-kind towards development work of a nature to be determined. PAC DAO member Wes Phillips joins the DAO Coalition Principals as Treasurer.
We thank many of the users who purchased PAC DAO NFTs, along with users who subscribe and voted for
in the $CLEV/$CTR booster program, all of which made this donation possible.PAC DAO members are encouraged to contribute to the conversation within our Discord and follow on Twitter.