Ten years after the famous hack, the DAO Security Fund has decided to stake the untouched $ETH and use the yield to fund Ethereum security initiatives, honor claims indefinitely, and professionalize governance and key management.
In the summer of 2016, the Decentralized Autonomous Organization, known as the DAO, became the defining crisis of Ethereum’s early years.
Now, nearly a decade later, that story has taken an unexpected turn.
What was lost, or rather, left untouched, is being repurposed as a $150 million (at today’s prices) security endowment for the Ethereum ecosystem.
The fund will distribute capital through decentralized mechanisms such as quadratic funding, retroactive public goods funding, and ranked-choice voting for proposals.
