Did you know that the first decentralized autonomous organization (DAO) was launched in 2016? The DAO was created on the Ethereum blockchain and allowed investors to pool their funds and make collective decisions. Unfortunately, the DAO was hacked for $50 million in Ether.

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Pioneering efforts like the DAO laid the groundwork for modern decentralized finance (DeFi) and blockchain innovation. The DAO's security flaws, however, served as a valuable lesson for the industry's growth.