TheDAO’s Major Return with $220M Ethereum Security Fund
Key Takeaways:From the 2016 TheDAO Hack to a $220M Security War ChestHow the Fund Is Being FinancedStaking 69,420 ETH for Ongoing Security FundingDistribution of Grants
Funding will be made possible by the ways of DAO-native mechanisms which include:
- Quadratic funding, which places more emphasis on the projects with numerous small donors as compared to those with a small group of large donors.
- Retroactive funding, which compensates the teams after quantifiable security work has already been provided.
- Ranked-choice voting for RFPs, where the proposals are rated and ranked in terms of community preference.
Eligibility criteria will be determined by the Ethereum Foundation per round of funding, and operational assistance provided by Giveth, an organization very related to public goods funding and DAO tooling.
The next rounds of funding can also incorporate external operators who are chosen using open application processes which introduce competition and minimize the risk of capture.
Read More: Ethereum Forms Post-Quantum Security Team, commits $2M as Quantum Timelines Speed Up
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