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After 6 years, the former Ethereum CCO talked about the truth of The DAO incident

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Not all crowdfunding is a DAO.

Original title: "The former Ethereum CCO who has been frustrated for 6 years tells the truth about The DAO: What is the real DAO?" "

Original author: Stephan Tual

Original compilation: old yuppie

This article comes from the WeChat public account: Old Yuppie

DAO is Ethereum A concept invented by creator Vitalik Buterin and described in detail in the platform's seminal white paper. As such, it is an important part of what Ethereum has to offer.

Former Ethereum CCO tells the truth about The DAO: What is the real DAO?

As Vitalik pointed out, DAOs can take many forms, the simplest one being a "digital cooperative": The funds available are invested by "DAO" in proposals submitted by anyone from anywhere and encourage innovation on a global scale while providing an alternative to traditional crowdfunding. Since the DAO is a corporation made up of code, so is its "contract". To prevent abuse, a committee of "governors" is responsible for validating the proposed code before submitting it to the DAO's members for a vote. Since the core tenet of Ethereum is decentralization, managers can be fired and replaced by the majority of DAO participants at any time.

Digital companies that run independently on the blockchain without interference and "backdoor transactions" are a way of thinking, but also according to Vitalik's paper explaining that it can For more complex work, such as implementing liquid democracy-style voting delegation. There could be thousands of DAOs, all with different voting mechanisms, purposes, and constraints.

The former Ethereum CCO tells the truth about The DAO: what is the real DAO?

What DAO is not

DAO is not IC0, usually the creator of IC0 "Advance Ambush" and generate "artificial scarcity" to "pull up the price of Token to ship", and members are required to "hodl", however, I am sorry, because most people continue to use this term now, just like in a single A blockchain running on a computer is not a blockchain at all, or an NFT hosted on Amazon S3 is anything but decentralized. Not all crowdfunding is a DAO.

To get a better understanding of the concepts surrounding the capabilities of the DAO framework and potentially other frameworks, I highly recommend reading this article on how DAOs lead themselves, and How Slock.it simply provides a framework of code to make the DAO 100% decentralized (no premine/pool of any kind for the world to use).

I have locked, screenshotted and archived this thread so that the "media" can refer to this post and its attachments for future reference and not wild guesses .

Why tell my story now?

Six years on, some pretty crazy Individuals/interest groups (I've been told they may have financial motives) are launching another vicious campaign of taunting against my family and the well-wishers of Slock.it. One particularly perverted person even took advantage of my recently deceased little Dog as a venting post, spreading more baseless lies.

As co-founder of Slock.it and decentralization/liberation in general Tech Advocate, I've never told the story of "The DAO" from my perspective, but by people who may well mean but don't seem to know it. It's like if you help the movie manage the community, that doesn't make you "the CEO of Warner Bros." However, to this day, some media still refer to me as "the CEO of the DAO", which is a bit of a nonsense, because the DAO cannot have a CEO, and they are deliberately designing to discredit me.

There may be lies, some grossly exaggerated or outright lies to protect certain interests, many of which have gained attention in the mainstream media. Sadly, as we spoke, I was told that not one, but three films were in the works, which undoubtedly caused further harassment to my family and friends, so it is my duty to set the record straight.

But that's another story, and soon, I'll be retiring from a community that no longer represents Julia Tourianski and the other "OGs" in the field who are doing great in this period But a sad foreboding of the values described in the video. For this reason, and for this reason alone, I will post one final message and five documents showing what "The DAO" actually is, how it was created, its community, and how it actually relates to Slock.it.

I know this document and its attachments will look out of place to most of you because they have been purged from the internet and "states "was completely rewritten. They may confuse you, they may shock you: who are these people? What do I mean by "Slack"? Why is there more than one DAO, let alone 473 A DAO?

This is my "bottom line"

So it actually happened What?

Slock.it is a traditional software consulting company, in order to give back to the society, it took the initiative to write and provide a free, liberal open source framework based on the Vitalik white paper, For anyone to modify, launch and operate a DAO as they see fit. This was extensively documented as part of tens of thousands of archived slack messages, blog posts, articles and interviews.

Meanwhile, a community of DAO enthusiasts used the framework to attempt to launch a DAO. One such group consists of talented, hard-working unpaid volunteers "The DAO" co-founders Auryn Mc Millan and Felix Albert and their team*, Boyan Balinov, Arno Gaboury, Michael Bracewicz, Taylor van Orden, Des Donelly, Daniel McLure *Leadership, created a concept called "The DAO", which was particularly successful in the public eye and in the community of about 30,000 DAO enthusiasts at the time.

They took advantage of the framework provided and yes, of course also benefited from the high profile of Slock.it in the industry at the time. For example, Slock.it enabled them to acquire a set of world-class managers (the community could fire them at any time). But even they cannot control "The DAO". A" stands for "autonomy".

Former Ethereum CCO tells the truth about The DAO: what is the real DAO?

A flaw in the Ethereum programming language called "reentrancy attack" caused the "The DAO" generated by this community to fail. Unlike the “Millennium Hack” you may read about in the lurid media, this flaw still plagues Ethereum-based projects today, even DeFI. Ethereum from the “DAO” is sucked into the “Sub-DAO” instead of entering "Hacked" accounts, so The DAO was not stolen: it was destroyed.

Thankfully, the Ethereum community came together to help us try to limit the damage. This included the tireless efforts of the so-called "white hat group" when I counted over 200 members in a now-defunct skype channel. Through their efforts, the vast majority of DAO contributors got their Funding. If you haven’t already, you still can, just follow this tutorial by Griff Green. Thankfully, through their hard work, “The DAO’s demise” wasn’t the “heist of the century.”

Facts

1. Fraudulent Claims: Slock.it has an IC0. In fact, Slock.it never held an ICO, nor did it have any serious plans, because we thought the risk was too great, even though we were the leading candidates at the time and were told countless times that "wealth awaits us".

2. Fraudulent Claims: Slock.it issues cryptocurrency. We actually chose to set up a traditional business, which was a GMBH regulated by the German government, including good order accounting, and then re-registered in the US as part of the "GMBH flip", which is when Europeans seek traditional investments across the Atlantic Very common corporate structure.

3. Fraudulent claim: The DAO is a means of funding Slock.it. In fact the Slock.it team is working around the clock to find amazing traditional investors (they don't ask for tokens because there are none available). These individuals were and are very high-profile U.S. investors with strong reputations and work ethic, who will remain anonymous in order to prevent them from being harassed.

4. Fraudulent Claims: Some people at Slock.it hacked the DAO themselves and became billionaires on the run to the "tropics". Most of the funds were actually recovered. There was never a 'robbery'. As for the rest of the Slock.it story since I left, it's explained very transparently in their CEO's blog post.

5. Fraudulent claim: "The DAO" is Slock.it and vice versa. In fact The DAO "is not Slock.it's property, nor is it its property. The DAO is just code. Rather, it's not even a third of Vitalik's Ethereum white paper. A "start-at-your-own-risk framework" for anyone to modify, update, and "generate" if they choose.

6. Fraudulent Claims: There is only one "DAO". In fact, just look at the readme in GitHub, it hasn't been modified in over 6 years. Note that the project has 463 forks . It’s an experiment for a self-owned, self-managed company, and countless renditions have been rolled out of Vitalik’s impressive enduring vision in the ethereum team’s first AMA.

7. Fraudulent claims: Slock.it launched "The DAO". Actually the "first spawn" (and all before and after) is not performed by Slock. The documentation below will demonstrate this. "The DAO" does not belong to Slock.it, but to the community. It may be called "Airpump 3000" or "Megacorp 4 All". It could be initiated by a company, an individual (named or anonymous), or even yourself. In fact, blockchain records show that many forked copies were spawned, but only one "The DAO" occupied the minds of the media and the community.

8. Fraudulent claims: The only achievement of Slock.it is to establish the framework of DAO. Actually The DAO is a main side project, and a charity side project at that. We are always conscious of the speculative nature of cryptocurrencies. We do keep up the incredible work though, and I'm very proud that I was part of the first team to realize a real-life, real-use, real-world implementation of blockchain technology, including:

①Snappy ethereum: Ethereum for Ubuntu core, enabling hardware/IOT developers to connect their devices to the blockchain and associate smart contracts with it .

②Share & Charge: We have carried more than 1,000 charging stations on the blockchain, enabling private individuals to rent their home charging stations in a peer-to-peer manner.

③Siemens DDO utilizes the same DAO framework to enable Fortune 500 employees to contribute to philanthropic projects without the need for a central entity to coordinate these efforts. This is the world's first internal "pure" DAO.

④In addition to working with some of the largest technology leaders in the world, we have made progress in building the Ethereum Computer, a pre-installed home Ethernet Square nodes, running on inexpensive single-board computers, serve as hubs for autonomous objects around the home.

9. Fraudulent claim: Slock.it has "billions" of revenue from the DAO. We don't actually get any benefit from the DAO, but:

①Simply speaking, reputation, which we hope will help us get traditional business in the future, including But not limited to being employed by "The DAO" itself. Designers call this "working for exposure." Also, it's important to remember Slock. It's always been a real-life consulting firm, delivering actual working products to businesses, not "IC0s" and promises.

②Indirectly speaking, it is a platform on which to deploy our free and open source shared network, which has been analyzed in detail by independent experts (please Check out this report), and we've never been shy about talking about it. Why do we do this? This is also the strategy that core members of the Ethereum team later built applications or companies (Consensys being the most well-known) on top of Ethereum.

10. Fraudulent claim: The Slock.it team holds DAOToken. In fact, as far as I know, no one on Slock.it has ever owned a single "The DAO" Token. I can only speak for myself, but this is a big deal - a simple block explorer will prove (without failure) that indeed Like that. To hell with rumors: just crack that command line and you might find something interesting.

Now, you must be aware of Slock. The intent of the it team is pretty clear: as a side project, it's a good thing(TM) for the community to write a free, liberal framework based on Vitalik's ideas, and leverage our relationships, including some very high profile ones members to support the 30K+ community members interested in this concept.

I could go on and on, but I won't discuss every fallacy about this project because They could fill a book (and have already). I'm also not going to discuss the absurd and scandalous fallacies of people who profit off of other people's pain. If there is one fact that needs to be taken from this article , that is, most of the ether that was sucked into the sub-DAO in the "heist that never happened" was recovered by their rightful owners, and continues to be recovered, as they slowly learned The media is misleading when describing ether as "lost". This is clearly a fringe case outside of the owner losing their own wallet's private key.

Pathetic Interestingly, almost immediately after the reentrancy bug was discovered, Slock.it outsiders and DAO enthusiasts saw an opportunity to make a quick buck. Leveraging their media connections, they applied a thick layer of revisionism, including deleting posts, manipulating well-meaning but technically ignorant journalists, and deleting massive webpages (one of which is in a bank vault) from the (yes, it's possible) gigabyte archive of the Internet Archive, I'm at Here are five documents that I consider self-explanatory.

THESE DOCUMENTS

All documents attached are public information: they are provided by their respective Posted by the creator, archived by themselves, or restored through legal means. They weren't meant to be "blockbusters" or to humiliate or embarrass their creators, they were handpicked just to point out truths you won't find anywhere else.

File 1 (https://mega.nz/file/K4llSQwa#KHCY6WyV6eB-V8FOaiMkGoi5_clQpOWdEbmjJE8y-HE):: Public blog post explaining who and what DAOHub is: Sample page from the DAOHUB blog introducing the team. As far as I can tell As we all know, the news media, including "professional publications", rarely explain this, preferring to name me "The DAO's CEO" (again, an oxymoron).

File 2 (https://mega.nz/file/qtEy0RAI#aCUOSPB3cHrjnQr34sB-B2zSoB2O2R_yAW5ZkM37tIA): A public forum thread about how the DAO was started to ensure Zero control from anyone, including the developers, the volunteers who helped start "it", and anyone, because the "DAO" was and is (I'd love to be proven wrong) the only project of this nature ( That is, to provide anyone with a free blockchain framework to start with FLOSS).

File 3 (https://mega.nz/file/ 3p0zWY7J#rK0AlvyxVyRQ0VRrkmlAYDi8MTRKthDCVSFkGpRMmIg): A community member responded to Gavin Wood's public blessing message for leaving the management team, and re-interpreted the concept and purpose behind the DAO. If there is still any doubt, there is indeed a team around "The DAO". This project is actively developed (Slock.it only provides a framework).

File 4 (https://mega.nz/file/fpEmgTgT#yR1_U-rEdeo_WH_yXoeRelKs_99aixMbbLKdlyP2ou0 ) : A public blog post on understanding DAO accounting. It's a complex topic and the author does a great job of simplifying things in plain language. I still feel that most people are misled by these so called 'new DAOs', they are DAOs in name only, as Chainalysis nicely dissects 1% of all holders with 90% of voting power (https: https://blog.chainalysis.com/reports/web3-daos-2022/).

File 5 (https://mega.nz/file/nxN1lZwA#VBy0zKeS1hu-09suq4oGJ9M6zl6LGeiXf3z57EvPE3A): VEVUE's public proposal for a 'future' DAO, as anyone Anyone can submit a proposal to build anything, be it hardware, software, merchandise of any kind (vehicles, shoes, clothing brands), or even improvements to the DAO itself, as the technology is guaranteed to evolve.

Thank you for reading and reviewing these five attachments. I think they're self-explanatory, even though they're just a "tip of history" and a small fraction of what I've been able to secure and back up at a remote physical location, about 1 gigabyte of data at all.

Personal Motivation and Goals

My name is Stephan Tual (https://stephantual .com/). I was the first to make a video explaining what Ethereum is, I kicked off our meetup when Gavin announced the entire Web3 stack he had designed, got the first node running on board, and then flew around the world for the rest marketing campaign, I promote what I believe to be the "platform to end all platforms" as COO and de facto community manager for Ethereum.

After I left Ethereum, the Jentzsch brothers invited me to Berlin where they showed me the first prototype of holy grail: the Autonomous Objects, and kindly offered me a role at Slock.it, a startup I co-founded in Germany.

Slock.it's sole purpose is to create autonomous objects that own themselves, that is, following Gavin's Wood (co-founder of Ethereum and Web 3 Inventor of ) rules, smart contracts are the top players in scaling, themselves run by a decentralized community and inheriting all the properties of its underlying blockchain, Ethereum.

I understand the concept of owning a business, but especially owning is very complicated in a world of paid influencers, middlemen, and walled gardens, and they Just want to "get a penny". Yes, we do construct objects that yield benefits when used. So they can use that stuff to pay for their own maintenance, etc. naive? Maybe! More exciting than the status quo with Amazons/Ubers/Airbnbs? certainly!

Important note: I can't give credit to this idea as it was the brainchild of Mike Hearn, the concept that convinced me to give this "Ethereum stuff "An opportunity to compile alpha, GO, client.

Conclusion

This is not mutual Blame (I also have my part), I was too excited, too naive. I wrote and talked about Airbnb without Airbnb, and I didn't see an obvious problem: If the middlemen could profit from it, they would never cancel The middle link, and the "web3 saviors" are just as rent-seeking as their centralized counterparts. I didn't expect that no one would believe that the Slock.it team worked around the clock "just for" freedom and recognition, in this world, The biggest meme is my ex-employer, portrayed as a saint... honest.

No, it's just a historical document lost in the maze of the internet, and for "some reason" it never made it to Wikipedia or any other site. This means, sadly, that all the books and movies that are rumored to be in the works will repeat the same lies spread by those who have profited enormously from "the mouth of a big V" or simple market manipulation.

But there are also IRL, physical consequences. In my own case, harassment included: death threats, hacking of my family (including my minor children) (at the time), trespassing, and even multiple attempts to break into my home.

I can't blame individual members of the "The DAO" community for not stepping up to help me tell an accurate story, as they have witnessed some of the worst The bad behavior of people, they probably don't want the same fate as me. As for those thought leaders, even those who are directly involved, the financial loss is too great, it is not worth the "trouble".

Anyone who has met me in person knows I have a lot of stuff, but I've always had a passion for what I do. I spent 6 years in silence, dealing with personal issues, and trying to make sense of the chaos in Ethereum.

I just got back from San Francisco, where I witnessed whirlwind's budding crypto yuppies on their way to their posh offices (they're stepping homeless Gui's leeks are superior), these people are still complaining about why the leeks don't eat minced meat. As of August 15, 2022, the "blockchain" (or should I use the term "distributed ledger" coined by hedge funds) has become a centralized NFT, an endless Ponzi scheme, illegal securities or, more recently, The watchdog swears allegiance to the traitorous circus. I don't admit to being in that place, and I don't envy them at all.

These are the last words I have to say on this matter, and now I will devote my life to other things, including the practical Applications such as Grid and SDR-based protocols. I also think we should open the AI brewing pot and provide open-source and censorship-free alternatives before the virtues of the “Amazon of AI” are signaled through every medium you consume.

As for the dark side of the blockchain, I know many of you want to see something dirty like the name "whodunnit" or my Comments by certain "characters" or comments about me (you won't see such a thing). I will move on, rest assured the truth will come out!

There is still a lot of work ahead. Thank you for your continued support.

Stephan Tual.