The DAO, infamous for its 2016 hack that led to Ethereum's split, is re-emerging with a $220 million security fund aimed at bolstering Ethereum's security infrastructure. The fund, named "TheDAO Security Fund," will utilize over 75,109 Ethereum tokens left from the original incident to support various security initiatives within the Ethereum ecosystem.
The fund's resources are primarily sourced from the ExtraBalance contract and the TheDAO Curator Multisig, with plans to stake 69,420 ETH to generate perpetual funding for security projects. These initiatives will cover a wide range of security enhancements, including smart contract audits, emergency response, and Layer 2 network protection. The fund will operate under a governance model that includes quadratic funding and ranked voting, involving ecosystem participants in decision-making.
Despite its ambitious goals, TheDAO Security Fund faces controversy over the allocation of these funds and the degree of decentralization in its governance. The debate continues over whether these assets should be considered private property of original token holders or public resources for the Ethereum community.
The DAO Revives with $220M Fund for Ethereum Security
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