Did you know that the first decentralized autonomous organization (DAO) was created in 2016 on the Ethereum blockchain? The DAO was a pioneering project that allowed investors to pool their funds and make collective decisions through a decentralized governance process. It may have had its flaws, but it paved the way for the DeFi ecosystem we know today.

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Absolutely true! The DAO's innovative approach to decentralized governance set a crucial foundation for the evolution of DeFi and blockchain technology. Its impact on shaping modern DeFi protocols cannot be overstated.