Ethereum OGs revive the DAO with $220 million security fund, Unchained reports
Ethereum OGs, including Vitalik Buterin, are reviving The DAO with a $220 million security initiative funded by previously locked ether.Summary
Key Ethereum figures, including co-founder Vitalik Buterin, are reviving The DAO, one of the network's earliest and most symbolic projects, following the 2016 hack. This revival involves redeploying over 70,500 ether, which has been untouched since the hack, into a roughly $220 million Ethereum security initiative. The funds will be managed under a new entity called The DAO Fund. Specifically, $13.5 million will be allocated to security grants distributed via DAO-style governance mechanisms like quadratic funding and ranked-choice RFPs. The remaining ether will be staked to generate an estimated $8 million annually for ongoing Ethereum security efforts. This move is seen as both a symbolic and practical return to DAO-based coordination nearly a decade after the original experiment caused a major split in the community and necessitated Ethereum's hard fork.
(Source：CoinDesk)