Written by: 0xjs@Golden Finance
New concepts in the crypto industry continue to emerge. Over the past two weekends, the VC DAO+Meme+Pump.fun combination concept Dao.fun debuted and attracted industry attention.
In particular, the most popular VC DAO token on Dao.fun is Ai16z, which once exceeded $100 million in market value over the weekend and is now worth more than $52 million.
What is Dao.fun? How does it work? How to create a VC DAO? What VC DAOs are there now? Golden Finance reporter studied Dao.fun, as follows:
According to social media released by Dao.fun, Dao.fun went online on September 27. From its tweets, we can know that its goal is to create a hedge fund directly on Soalna, lower the threshold for hedge funds, and aim at the democratization of hedge funds.
But this hedge fund focuses on trading Meme coins, "Raise money to trade memes".
According to official information, If you use one sentence to describe Dao.fun, Dao.fun=PartyDAO+Pump.Fun.
After Dao.fun went online, some VC DAOs were established in October, but the highest market value of these DAO tokens did not exceed 100,000 US dollars.
On October 25, the AI VC DAO ai16z, created by the AI agent "Marc AIndreessen" simulating a16z co-founder Marc Andreessen, went online, and the market value of its token ai16z quickly exceeded 100 million US dollars. The popularity of ai16z also led Dao.fun to become popular in the entire industry.
6 Questions to Understand Dao.fun.
The so-called VC DAO is actually an investment DAO. Since it is an investment, it involves fundraising, trading, liquidation upon maturity, and fund term.
Fundraising:DAO creators have 1 week to raise the required amount of SOL. This financing is a fair issuance of DAO tokens, and everyone can get the same price.
Trading:After the fundraiser is closed, the creators will be responsible for investing the raised SOL into their favorite Solana token, and the tokens will be publicly available on the virtual AMM. This allows the DAO token price to fluctuate based on the fund's trading activity. The DAO token price curve has no upper limit, but the downside is limited by the market value of the fund raise. Investors can sell their DAO tokens at any time as long as the market value of the DAO token exceeds the original fund raise amount.
Fund Liquidation:When the fund expires, the DAO wallet will be frozen and the SOL in the profits will be returned to the token holders. Investors can destroy their DAO tokens to redeem the DAO's underlying assets, or simply sell the DAO tokens.
Fund period:The DAO creator can set it by himself, such as the fund period set by ai16z is 1 year, and it will be liquidated on October 25, 2025; kotopia will be liquidated on October 27, 2025nian; DCG (Degen Capital Guild) will be liquidated on April 25, 2025; Polychain Smoker Capital will be liquidated on January 26, 2025.
A smart wallet with special rules established by the DAO creator to invest on behalf of DAO token holders.
Dao.fun adopts an audit system, and Dao.fun needs to review the creators. All creators must be recommended by trustworthy creators.
As long as the market value of DAO tokens exceeds the original fundraising value, they can.
One week
If the fundraising fails, investors can redeem their SOL; otherwise, they can withdraw their funds at a 10% discount.
Currently, there are 30 VC DAOs on Dao.fun, but 2 VC DAOs have not achieved their fundraising targets.
These VC DAOs include those using the names of famous VCs in the crypto industry: a16z, Sequoai Capital, Polychain, DCG, and 3 Memes Capital; those using famous brands: McDONalds Capital, RORSCHACH; those using common Meme names: CAT; those using famous social events: George Floyd, and so on.
All 30 VC DAOs are as follows, sorted by the increase in the market value of VC DAO tokens:
According to the fundraising amount of VC DAO, the VC DAO with the highest fundraising is kotopia, with a fundraising amount of 4206.9 SOL (US$715,000);
The second highest fundraising is DCG (Degen Capital Guild), with a fundraising amount of 1,000 SOL (about US$170,000);
The U.S. Securities and Exchange Commission is reportedly set to approve an Ether spot ETF as soon as Wednesday. Fidelity has amended its S-1 filing, and Ether surged past $3,840 upon hearing the news before pulling back.
MiyukiThe Trump campaign team announced it will start accepting cryptocurrency donations to attract younger voters. The plan involves accepting various digital assets, including Bitcoin and Ethereum, through the Coinbase platform.
WeiliangPelosi is considering supporting the Republican crypto bill, which means she will oppose the Democrats' vote.
AlexBlackRock's Bitcoin ETF garnered $290 million, capturing 95% of U.S. spot Bitcoin ETF inflows and pushing total inflows past $300 million, significantly boosting market momentum.
MiyukiU.S. prosecutors demand a 5-7 year sentence for Ryan Salame, citing his role in FTX's collapse and the embezzlement of $10 billion, contrasting with defense calls for 18 months.
WeiliangBiden's campaign team plans to hire a meme manager to win the support of young voters.
AlexMay 22 is "Bitcoin Pizza Day," commemorating the historic event in 2010 when 10,000 bitcoins were used to purchase two Papa John's pizzas. From $41 worth of pizza to $700 million in wealth, Bitcoin's price surge over the past 15 years has proven it to be the best-performing financial asset in history.
MiyukiThe EU AI Act imposes strict regulations on high-risk AI systems, impacting U.S. tech firms with fines up to €35 million or 7% of global revenues.
WeiliangThe "Tech Against Scams" coalition, comprising of Coinbase, Match Group, Meta, Kraken, Ripple, Gemini, and the Global Anti-Scam Organisation (GASO), has united to combat the escalating problem of online fraud and financial schemes.
CatherineMeta assembles a tech titan advisory group to drive AI advancement, yet faces criticism for a lack of diversity in its board. Additionally, Meta's platforms struggle with cybersecurity vulnerabilities and insufficient customer support, raising doubts about its ability to lead in AI responsibly.
Anais