TP Courses 35 — History of the DAO
In September 2013, BM (Daniel Larimer), the founder of EOS, BTS, and Steem, proposed the concept of DAC, a decentralized autonomous company, which is considered to be the prototype of DAO.
In May 2014, Vitalik Buterin gave a detailed explanation on DAO, Decentralized Autonomous Organization (DAO). The DAO is a decentralized form of the modern corporate system. For the first time, the definition of DAO became explicit and accelerated.
In 2015, Ethereum’s main network was officially launched, and the DAO combined with smart contract changed. DAOICO: DAOICO is a hybrid of DAO (decentralized autonomous organization) and ICO (initial coin offering), using a smart contract to lock in tokens raised by the ICO and unlock certain tokens at different project progress points according to the expected progress of the project as a reward for the project developer.
In August 2015, the first DAO: DASH DAO with a clear decision mechanism appeared.
In May 2016, The DAO, The Ethereum crowdfunding platform known as The “mother of DAO”, was launched, and The first DAO with Internet entity existence and financing purpose was born. The DAO raised 11.7 million ETH (worth about $245 million), making it the largest crowdfunding event in history. In June 2016, The DAO smart contract vulnerability was hacked, resulting in The loss of 3.6 million ETH market value of nearly 70 million US dollars, and eventually led to The fork of ETH. DAO tracks market heat cooling.
In December 2016, Aragon, the setup platform of Ethereum DAO, was launched.
In December 2017, Maker DAO, an automated mortgage platform on DeFi+DAO Ethereum, was officially launched.
In February 2018, the DAO Stack, a decentralized decision-making mechanism DAO platform, was launched.
In February 2019, Moloch DAO, a “DAO” solution to collaboration failures, went live.
In August 2021, BitDAO, an open financial and decentralized tokenized economy go live. BitDAO’s vision and mission will be driven by token-holders, contributors, and community leaders.
In September 2021, the Multi-chain decentralized wallet TokenPocket Foundation officially announce the launch of TPT DAO. DAO Vault exists to enable TokenPocket ecosystem, and the use of each fund will be fully discussed and publicized in TokenPocket forum, and the TokenPocket Foundation will initiate a proposal. It shall be executed after all TPT holders vote for approval.
In November 2021, ConstitutionDAO raised $40 million globally in six days to buy the US Constitution. Although the auction failed, it aroused widespread interest in DAO.
DAO, a new type of autonomous organization, is in its early stage of development. In the future, it will have more in-depth theoretical research, a more reasonable incentive system and a more distributed development direction, and become an indispensable part of Web3 system.
That’s the history of DAO in my understanding through the research. Join our channels to discuss: https://linktr.ee/TokenPocket
