Ethereum Protocol Developer Holds $114,877 Worth of DAO tokens
Edit: For the record, I’m not suggesting this individual is twiddling his moustache and laughing maniacally. What I am suggesting is “It is difficult to get a man to understand something, when his salary depends on his not understanding it.”. I hope this article results in a push for better financial disclosure from protocol developers, and a firewall between protocol and dapp development.
The Ethereum Foundation holds much of their ether in a multi-sig contract at
0xde0b295669a9fd93d5f28d9ec85e40f4cb697bae. One of those signers is account
0x0037a6b811ffeb6e072da21179d11b1406371c63 is also the owner of 957,310 DAO tokens.
At a value of 1 DAO = .01 ETH, and 1 ETH = 12 USD, that works out to $114,877.
When a protocol developer and Ethereum Foundation ex-member has such large stake in The DAO, there are clear conflicts of interest.