In Berlin, A 'DAO Renaissance' Begins

Published on by Coindesk | Published on

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"It feels like a DAO renaissance."

In 2016, roughly $60 million was stolen from an early DAO application, called The DAO and the effects of this event seriously impacted ethereum's evolution.

"My observation is that the term DAO is being used too loosely," said Mougayer.

The distinction even between big DAOs and little DAOs are important to conveying the complexity and degree of difficulty in a DAO application, according to Mougayer.

The timing to start building DAOs is now, said former Polychain partner Ryan Zurrer who himself announced a new DAO initiative earlier this month.

Progress since The DAO. Since the original DAO, Andrianova, Zenk and Zurrer said specialized tooling to help facilitate DAO creation on ethereum has advanced significantly.

For Zurrer, the cornerstone for his DAO initiative and DAO development more broadly speaking has been the Aragon framework.

If a DAO is going to hold cryptocurrencies from participants and allocate this money to specific groups, it will likely need to leverage DeFi protocols such as the Kyber Network or Uniswap to exchange tokens and convert them into the desired asset.

What's more, you could have DeFi applications that require governance from a DAO to execute.

"There's many interesting and creative ways to play around with [DeFi] and DAOs. For instance, a DAO can be the manager of a hedge fund. You could also have a DAO govern code protocol. That's the case for Melon protocol today."