TheDao (DAO) is probably a token with the most historic significance on Ethereum,
and now it has become a scarce collector's item!
The first DAO token transfer was made on 2016-May-28, about 6 months after the ERC20 standard was created.
It has been mostly forgotten and left to rot. De-listed from exchanges, removed from market-cap tracking
sites.
But, did you know, TheDAO contract is still alive and running, and the original tokens still exist, complete with their entire history?
Yes, of course. TheDAO still lives on the Ethereum blockchain with all its transaction history intact. Contrary to what some believe, TheDAO was never reversed - all what happened was, the ETH that was still under TheDAO's custody moved to another contract where it was secured. The fateful bug that was used for the exploit is still in there, so TheDAO cannot hold any ETH. However, the tokens are SAFUtm
The token conforms the ERC20 spec, which means it works with things in DeFi, including Uniswap, and can be transferred between users
The contract for TheDAO is 0xbb9bc244d798123fde783fcc1c72d3bb8c189413
So, this is just a fun experiment for now. 0xTycoon, who founded this project, also acquired the thedaotoken.eth domain name and placed it under a multi-sig with other DAO token collector-enthusiasts.
TheDAO tokens are used to govern this project off-chain via this Snapshot page, and anyone holding the tokens can vote.
What's the next step for this project? 0xTycoon says he has no idea yet. So far, it's mainly to decentralize the ownership of the .eth domain, and perhaps help this project to continue, or to help seed new related projects, and perhaps use the DAO tokens for what they have always been intended for: to govern!
TheDAO Token DAO is open for donations! If this page has ever helped you find long lost DAO tokens, consider donating to the multisig address:
Multi-sig donation address: 0x921DCc4ba6872B4736eB1A22351E2a8Ce671C3E2
There are over 7k holders
The fully-diluted supply is 1,153,816,598 DAO, but 99% was forever burned and sitting in the
WithdrawDao* smart
contract.
So only %1 is circulating, but the number could be much less than that.
Each 100 DAO in circulation is backed by 1 ETH.
This is because, there is a special smart contract called the
"WithdrawDAO"
which sends you back 1 ETH for every 100 DAO.
It's also impossible to mint
new tokens, so the circulating supply will only continue to shrink as people withdraw.
Many of the top holders appear to be dead, long forgotten wallets.
* The WithdrawDao is a special smart contract that can be used to convert DAO to ETH, where 100 DAO will always give you 1 ETH.
IMPORTANT! Never send DAO tokens the WithdrawDAO directly, or you will lose them. You will need to call the withdraw method instead)
It appears that a "DAO whale" has seeded a Uniswap V2 pool with at least 9.8k DAO tokens! (Uniswap info page is wrong, it's not 9.8 mil)
However, TheDAO token is currently not compatible with the Uniswap UI!
This is because the 'symbol' and 'decimal' properties are missing.
These are marked as optional in the ERC20 standard, but all modern tokens are expected to have them.
This problem only breaks the front-ends. For eg. places like 1nch and Sushiswap break as soon as you
try to add theDAO token.
Uniswap shows UNKNOWN for the symbol and the values are displayed using the low-level 'wei' unit
instead.
Perhaps these might get fixed in the future, since they only affect the front-end.
Update 2021-Oct-06: The token has been censored on the official Uniswap website, so everyone is welcome to pin thedaotoken.eth to their IPFS node to help out and keep it decentralized!
Why censored? They haven't been transparent about their decision process, but they banned it with a few other tokens and then made an announcement here https://twitter.com/Uniswap/status/1418697012095164420
However, the Uniswap smart contract cannot be stopped.
This can be done by clicking the Add Token button at the bottom of the assets list, then going to the Custom Token tab
Add to Metamask with the following settings:
Here is a simple Uniswap v2 front-end.
1 DAO is now worth ? ETH.
The WithdrawDao
is a special smart contract setup to process DAO to ETH withdrawals.
It does a one-way swap, DAO to ETH, and the rate's always 100 DAO = 1 ETH
There is also an ExtraBalDaoWithdraw
contract that does 'extrabalance' refunds.
The following is a simple web3 UI for it.
Connected address: 0x...
You have ? DAO available to
withdraw
You have ? xDAO in the
"ExtraBalance" available to withdraw
This can be done by clicking the Add Token button at the bottom of the assets list, then going to the Custom Token tab. Note that this is a separate token to the DAO token.
Add to Metamask with the following settings:
⛑️ MetaMask stuck? You'll need to add the DAO token first. Here is how to get it un-stuck: