New Ethereum DAO Relaunches with Privacy Focus and $220M Reserve
Written by Ohris M. Greyoon, Blockchain & Crypto Expert
Source: Coinmarketcap
Updated: 14h ago- Funding Source and Privacy Mission: The newly relaunched Ethereum DAO has been funded through Tornado Cash, establishing a $220 million reserve dedicated to security research, highlighting Ethereum's commitment to privacy transactions and aiming to normalize private transactions rather than associating them with hacking.
- ETH Deposit and Income Delay: Co-founder Griff Green announced the deposit of 69,420 ETH into the Beacon Contract; however, the funds must wait over 70 days in the queue before generating passive income, which may impact the DAO's funding efficiency and future grant plans.
- Impact of Tornado Cash on Ecosystem: Tornado Cash plays a crucial role in the Ethereum ecosystem, having expanded its traffic to various decentralized exchanges and applications despite warnings related to DPRK, demonstrating its significance and widespread use in privacy protection.
- Future Spending Plans: The DAO's funds will be allocated for grants and research, integrated into the Ethereum Foundation's new spending schedule, which is expected to adopt a more conservative approach to reserve utilization in the coming years to adapt to market changes and enhance funding efficiency.
About the author
Ohris M. Greyoon
Ohris M. Greyoon holds a Master’s in Computer Science from MIT and has 10 years of experience in blockchain technology and cryptocurrency markets. A pioneer in decentralized finance (DeFi) analysis, he leads Intellectia’s Crypto News, offering cutting-edge insights into digital assets.
