A decentralized autonomous organization (DAO), sometimes called a decentralized autonomous corporation (DAC), is an organization constructed by rules encoded as a computer program that is often transparent, controlled by the organization’s members and not influenced by a central government. In general terms, DAOs are member-owned communities without centralized leadership. A DAO’s financial transaction records and program rules are maintained on a blockchain. The precise legal status of this type of business organization is unclear.
A well-known example, intended for venture capital funding, was The DAO, which amassed 3.6 million ether (ETH) – Ethereum’s mining reward – then worth more than US$70 million in May 2016, and was hacked and drained of US$50 million in cryptocurrency weeks later. The hack was reversed in the following weeks, and the money restored, via a hard fork of the Ethereum blockchain. Most Ethereum miners and clients switched to the new fork while the original chain became Ethereum Classic.
|The DAO||DAO||Venture capital||Ethereum||April 2016||Defunct late 2016 due to hack|
|ConstitutionDAO||PEOPLE||Purchasing an original copy of the Constitution of the United States||Ethereum||November 2021||Defunct|
|PleasrDAO||PEEPS||A group of art collectors who own the sole copy of a Wu Tang Clan album||Ethereum||April 2021||Operational|
|FreeRossDAO||FREE||Clemency for Ross Ulbricht, criminal justice reform advocacy organization||Ethereum||December 2021||Operational|
|AssangeDAO||JUSTICE||Purchased Clock, an NFT artwork by Pak, to fund legal defense of WikiLeaks‘ founder Julian Assange||Ethereum||February 2022||Operational|
|MakerDAO||MKR||Lender, stablecoin creator||Ethereum||December 2017||Operational|
|MoonDAO||MOONEY||Purchased tickets to send members to space on flights NS-22 and NS-24||Ethereum||November 2021||Operational|
|Uniswap||UNI||Exchange, Automated Market Making||Ethereum & Celo||November 2018||Operational|
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