News
Across Protocol founders are accused of manipulating DAO governance to funnel $23 million in tokens to their affiliated for-profit company, Risk Labs.
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DAO News
A DAO, or Decentralized Autonomous Organization, is an idea for a firm that is ruled with enforced digital rules and without hierarchical management. DAO as an idea is very close to Bitcoin in its attempt to get rid of all middlemen in transactions.
The most important attempt to create DAO is “The DAO”--a machine-operating venture organization launched in 2016. The basic idea for an interested person was to put money into the system and then get an amount of votes used for elections of ideas worth investing in. Even the biggest critics of DAOs were in love with the idea, but they also found a lot of flaws and security holes in “The DAO”. Although the project failed within a couple of months because of the hack which resulted into hackers gaining control over 3.6 million Ether, it was a big success as a first product of sorts, gathering money from more than 10,000 users. It is likely that we will hear some DAO news soon.
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Jupiter exec Kash Dhanda announced a pause in DAO governance voting until 2026, citing the need to prioritize growth and product execution.
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Yuga Labs CEO Greg Solano said the DAO became a slow, noisy, unserious governance theater.
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The DeFi Education Fund and Uniswap argue that the SEC should treat decentralized autonomous organizations as individuals, not as companies.
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Crypto-funded DeSci group HydraDAO said its researchers restored mobility in rats with severed spines within five days using a novel PEG-chitosan compound.
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Sky proposed penalties on Maker tokenholders who are slow to upgrade to SKY tokens as the DeFi protocol pushes to finish its changeover.
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Burwick Law says Metaplex could be sued if it doesn’t change its plan to sweep unclaimed NFT value from its resize upgrade to its DAO treasury instead of returning them to NFT holders.
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The pseudonymous co-founder of Dead Bruv, said the initiative was about trying to “make NFTs fun again” and was sparked by a joke that turned into a “lightbulb moment.”
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The buyback is a "first step" toward a broader tokenomics revamp for the DeFi protocol, Aave said.
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Treasure DAO chief contributor John Patten says the annual burn rate for the DAO has been $8.3 million, but the new measures aim to reduce costs.
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XDAO Labs said it allowed over 367,000 DAOs to gain legal recognition through its DAO creation protocol.
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The module may further increase Lido’s node operator set and improve staking risk mitigation, the CEO of SSV Labs told Cointelegraph.
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Some tokenholders are expressing doubts about the proposal’s profitability for the DeFi lending protocol.
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The company envisions a world of AI agents, like Eliza, trading autonomously onchain.
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Yat Siu outlines the evolution of Web3 and the open metaverse since 2023, examining digital ownership, economic opportunities and the growth of DAOs, cryptocurrencies and NFTs.
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