Investment in Slock.it’s DAO have exceeded $13.6 million. Ethereum price has gained nearly 25%.
This weekend, Germany-based blockchain company Slock.it has announced it successfully launched DAO via its decentralized trust fund. Current price of the DAO’s 100 tokens 1 ETH.
“A DAO, or Decentralized Autonomous Organization, is a digital company with its by-laws set immutably within the Blockchain: its governance is transparent, its finances can be audited by anyone, it suffers zero downtime and corruption is impossible,” Slock.it website reads.
The campaign has brought the startup 1.4 million ETH, or nearly $13.6 million. This makes the DAO one of the most successful startups in terms of fundraising. It also outranks Lisk, whose crowdfunding campaign reached top 20 of the world’s most successful fundraising efforts.
Notably, as the DAO working exclusively on ETH tokens launches, the token’s price has grown from 0.01638647 BTC (April 30) to 0.21842 BTC (at the time of writing). Considering the amount of raised funds currently stands at around 1.4m ETH, one might suggest that Slock.it’s DAO could have caused the price to increase.
According to early reports, the new decentralized trust’s first project will cover development and release of Ethereum Computer, a platform for any decentralized app in convenient PC environment, smartphone or home theater, as well as Ethereum-based apps development.
Further details as to Slock.it’s DAO are unveiled in our interview with the company’s co-founder and CTO Stephan Tual.
“Think of this DAO as a bit of a decentralized fund management, which then invests money in projects by accepting proposals from service providers. Under the Kickstarter model, if the operational side of the project fails (and that, unfortunately, seem to happen over and over and over again), the project is over, and all funds are lost. Under the DAO model, the project could still go on, effectively shielding participants from a bad service provider,” Stephan Tual told ForkLog back then.
Subscribe to our Newsletter<
- To the Coup and Back: Story Behind Steemit Community’s Failed Revolt
- Digix Co-founder Shaun Djie: Having DigixDAO Continue to Exist Would Be Good But It’s No Longer Possible
- Wings and ForkLog Announce a Contest for Best DAO Concept
- Wings Team Offers a Standard for Safe DAO’s
- The Elements of DAO in Dash
- DAO Creation Learning Center To Be Launched in Russia
- Blockchain Beyond Cryptocurrency: A Brief Guide to the Future Part II
- The DAO Eliminates Vulnerability That Allowed Endless Withdrawals from Some Accounts