Ethereum Revives TheDAO Funds as Permanent Security Budget
- A group of Ethereum veterans announced plans to convert approximately 75,000 ETH into a staked endowment for smart contract security.
- The fund will stake 69,420 ETH, generating an annual yield between 2,777 ETH ($7.8 million) and 3,950 ETH ($11.1 million).
- The funds originate from leftover resources after the DAO incident in 2016, which aimed to support security infrastructure.
- Staking operations will utilize Dappnode across six continents with multiple client implementations.
- The fund’s governance includes notable figures like Vitalik Buterin and Griff Green, focusing on enhancing Ethereum’s security capacity.
This initiative marks a significant shift in Ethereum’s approach to security funding, transitioning from episodic grants to a structured endowment model that supports long-term projects in smart contract security and user protection.
By staking 69,420 ETH, the fund aims to establish a sustainable budget for ongoing security efforts within the Ethereum ecosystem.(Source)
