Vitalik Buterin and the Ethereum Foundation relaunched the Ethereum DAO. They allocated around 75,000 ETH, part of which will be used to improve on-chain security.
The new DAO will feature a $220 million fund. Of that amount, $13.5 million will be assigned to security project grants through member voting. The remaining 69,420 ETH will be staked in the Beacon Chain contract to generate passive income, estimated at up to $8 million annually from block and fee rewards.
The relaunch will use unclaimed ETH from the original DAO, which dissolved after a hack that resulted in a loss of around 3.6 million ETH. The original DAO led to the creation of Ethereum Classic through a hard fork.
Griff Green, co-founder of several Ethereum ecosystem projects, will lead the new structure. The DAO contract and its governance mechanisms are already active.
Source: https://x.com/thedaofund/status/2016898906915811488
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