DAOs came a long way: Historical highlight reel

❔Can you believe the DAO concept has been around for a decade?

The first big DAO was actually called The DAO and raised $150 million worth of ETH (huge) to fund dApps but then was hacked for $50 million. Vitalik Buterin had to fork the Ethereum network. The DAO, sadly, still died a few months later.

💡Now, with thousands of DAOs in existance, some have proven very successful, like MakerDAO, Uniswap, and the Optimism Collective.

Others failed just as spectacularly, like ConstitutionDAO, PolkaDAO, and DAOStack.

There are currently over 11,600 DAOs (with a total treasury of nearly $14B) in the areas like lending, governance, community building (often NFT-based), public goods, and gaming.

📌DAOs are here to stay. But few are truly DAO: only 22 have AUM over $100M, only 27% of governance token voters actively vote, and only 91 DAOs have over 10,000 members.

Read the details about DAO successes, failures, and prospects in the full article 👉 here