DAOs.Fun Launches V3 Upgrade

DAOs.Fun, a launchpad platform for decentralized autonomous organizations (DAOs) focused on investing, has launched its V3 update, which allows stakers to earn fees and designate the rights to invest.

On DAOs.Fun, creators are given a 7-day window to fundraise a desired amount of SOL, designed to act as a fair launch for the DAO token, which launches at the end of the raise period.

The DAO token is then publicly tradable on a virtual automated market maker. Post fundraise, the DAO-creators can invest the raised SOL, and the DAO token price can trade based on the trading activity of the DAO itself.

Creators on the platform are vetted by the DAOs.Fun team and must be referred by a trusted creator, to try and prevent malicious actors from using the raised SOL for their own benefit.

AI16z

The platform gained popularity after the success of the AI16z DAO, which rallied from the DAOs.Fun opening price to an all-time high of over $470 million before plummeting after a mistake from its operating team.

The DAO, spearheaded by a developer and investor named Shaw, set out with the mission of building multiple AI agent-related products, including an autonomous investor, an autonomous degen trader, and a future framework for its mascot AI Agent, Eliza.

In true memecoin fashion, the community quickly spun up an unofficial ELIZA token, which traded as high as an $80 million market capitalization. However, on Nov. 18, controversy ensued after a second $ELIZA token was issued officially by the team, leading to severe volatility in the community-made ELIZA token, which plummeted by as much as 80% in a matter of hours.

Shaw addressed the situation and said, “Alright I made a few mistakes for sure…Some people on our team profited heavily from making early personal trades…and they’ll be relinquishing most of that. We’ll burn or hold or stream back the community coin to CTO or a dev fund for the community coin, whatever you guys want.”

“Well, it’s in the world now. There are two Elizas. I hope there are more. I hope the people who feel like I hurt them go launch their own agents and stories and do something better than I could ever do,” he concluded.

The airdrop for affected holders went live on Nov. 19 with a 20% cliff unlock, with daily unlocks set to begin immediately.