@4eku, we want to clarify the relationship between Gold DAO and Yuku to avoid any confusion. Here’s a brief history, as not everyone knows the stages a complex project like Gold DAO goes through to mature and succeed. Gold DAO partnered with Yumi to launch GLD NFTs in April 2023, even before the Gold SNS was officially launched (see the introduction of Gold DAO SNS here). The Gold project has two main phases :
- GLD NFTs, which require KYC/AML.
- GLDT, minted when a Gold NFT is locked into a smart contract at a ratio of 1 gram (Gold NFT) = 100 GLDT.
GLD NFTs need an NFT marketplace for trading. At the time, Yumi was one of the few NFT marketplaces on ICP. Yumi was a BVI company, not an SNS. When new NFT and marketplace regulations hit the BVI, it became too costly to operate. The tech team behind Yumi, led by Tiger (also behind the Shiku metaverse), decided to merge Yumi with Shiku, creating Yuku (a blend of Yumi and Shiku). Yuku later launched its SNS (see Tiger’s post).
Around this time, the Gold DAO team asked if they could keep the Yumi name and the code for real-world assets (RWA) only. In exchange, plus some help, Tiger received 2.5 million Gold DAO tokens and some OGY. At the end this idea didn’t work out due to regulatory challenges and was quickly dropped. We then decided to handle everything in Switzerland. In early 2024, GLD NFT trading moved to Bity for regulatory reasons.
Tiger and the Chinese tech team continued their vision of building a metaverse and running an AI-powered NFT marketplace. We maintained a friendly relationship with them, but Gold DAO has no operational ties to Yuku.
We hope this clears up the connection between Gold DAO and Yuku. Keep up the great work spotting abusive behavior in the ecosystem, and feel free to ask us any questions about Gold DAO.