The above statement may seem obvious, but The DAO has formally received two proposals by Slock.it UG, Token holders must carefully analyze every proposal they receive, and evaluate the financial viability of these, failure to do so may result in mismanagement of funds and the ultimate failure of the biggest crowdfund sale in the history.
The German startup Slock.it UG carried out the development of a standard framework for Decentralized Autonomous Organizations, this framework was used as a foundation for what is now the most successful crowdfund campaign in history, with more than $140 million collected, however, this doesn’t mean that The DAO owns Slock.it anything or that it should immediately accept proposals made by the German company.
Granted, Slock.it has assumed a role of leadership, but they have their own set of economic interests -after all, Slock.it is a for profit organization-, TheDAO token holders must be vigilant, they need to carefully assess every proposal, and make decisions that will bring value to the shareholders.
The new Slock.it proposal accounts for 125,000 ETH to be spent on a ‘dedicated team of security experts’, many people immediately raised their eyebrows on this proposal, open source projects with little to no funding whatsoever have been going on for decades, TheDAO will not be different, especially when $150 million are on the line.
A member of the Ethereum community replied to Slock.it proposal with the following: There is a danger of poor expenditure reminding me of the Bitcoin Foundation and the original Ethereum. In the cost breakdown of Slock.it’s proposal we can find: The update of the DAO general framework to version 1.1, accounting for 10,000 ETH -let’s remember that Slock.it released version 1.0 for free-.
Deployment of 2-3 ‘security experts’, including DAO Framework Author Christoph Jentzsch at any given time, for the next […]
