What to know : Some key Ethereum members, including Ethereum co-founder Vitalik Buterin, are reviving one of the network’s oldest and most symbolic chapters: The DAO. According to the announcement, $13.5 million will be allocated to security grants distributed through DAO-style mechanisms.
Some key Ethereum members, including co-founder Vitalik Buterin, are reviving one of the network’s oldest and most symbolic chapters: The DAO.
More than 70,500 ether that have sat untouched since the 2016 DAO hack — long considered Ethereum’s defining existential crisis — will be redeployed into a roughly $220 million Ethereum security initiative, Unchained reported.
According to the report, $13.5 million will be allocated to security grants distributed through DAO-style mechanisms including quadratic funding, retroactive public goods funding, ranked-choice RFPs and other governance processes under a new entity, The DAO Fund.
The remaining 69,420 ETH will be staked to generate an endowment for Ethereum security efforts. The investment is expected to yield roughly $8 million annually at current rates.
The move marks a symbolic and practical return to DAO-based coordination nearly a decade after the original experiment fractured the community and led to Ethereum’s historic hard fork.
“TheDAO is back,” the project wrote on X. “A decade later, we’re opening a new chapter”
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