In August 2015, DASH DAO appeared, which is the first DAO with a clear decision-making mechanism. Since then, DAO has officially moved from a general concept to a concrete implementation.
Until May 2016, the ETH crowdfunding platform The DAO was launched, and the first DAO with Internet entity existence and financing purpose was born. At this time, the DAO also reached a peak of popularity. The DAO raised over 12 million ETH and was worth about 150 million US dollars.
However, in June 2016, The DAO smart contract vulnerability was hacked, which lost 3.6 million ETH market value of nearly 70 million US dollars, and eventually led to the ETH fork. This incident also silenced the DAO track market for a while.
In the sluggish market environment, a number of DAO platform projects developed during this period. In December 2017, Maker DAO was officially launched, which is the early representative of DeFi+DAO, a managed DAO platform; in February 2018, DAO Stack was released, which is a DAO platform that pays more attention to the decentralized decision-making mechanism.
Until February 2019, the application-based Moloch DAO was launched, providing community funds for ETH development through its minimalist mechanism and clear goals, allowing more people to easily and intuitively participate in the DAO governance mechanism, which is also financing Application DAO prototype.
