📌Believe it or not, the first DAO was called The DAO

Crypto OGs may remember the hype, drama, and the decision that may forever haunt Vitalik Buterin.

❕The DAO was formed in April 2016 in a token sale that became one of the biggest crowdfunding events in history. It only took a couple of months for some users to discover a vulnerability in The DAO's code and steal 1/3 of the treasury.

The DAO's community and Vitalik Buterin faced an impossible choice: do nothing and let thousands of crypto's earliest adopters suffer huge financial losses or fork Ethereum and violate the sacred law of irreversibility of blockchains.

Choosing the latter, Ethereum not only survived but becomе crypto's technological and innovation backbone. The DAO went into obscurity in a few months.

📖But its legend lives on — DAOs number in the thousands and are experimenting with various new models of governance and protecting against vulnerabilities. And the game between builders and hackers continues.