Anthony Di Iorio, founding member of the original Ethereum team, distanced himself a bit when the DAO was released, but incorporated it quickly into his Jaxx cryptocurrency wallet integration.
“We will be removing #The_DAO_Project in the coming weeks. Please transfer them out of your wallet as soon as you can!”
Due to Di lorio’s reputation and adoption of the DAO for his wallet service, surely many cryptocurrency participants bought into the DAO through his service in a very thin market for DAO wallets. Di lorio’s wallet service might have been the only “easy-to-use” option for DAO tokens on the market, leaving non-technical users with nowhere to go. He called the DAO a “fantastic” idea in the beginning.
Jaxx cited “various issues” for stripping its platform of DAO Project support. It suggests Poloniex as an alternative, but Poloniex does not offer support for DAO tokens.
The DAO was launched and grew to more than $150 million in value before a $56 million hack created controversy and problems for the development team. Since then, things have not been easy for Ethereum developers and participants, and that’s been reflected in a dropping price.
Di Lorio helped to market Jaxx as a hub around the DAO phenomenon. It was part of an effort to incorporate Ethereum applications. In a blog post on the Decentral website called “Jaxx full DAO integration sneak peak,” Di Lorio gives a tour of what to expect from Jaxx’s DAO integration. He says that Jaxx has had a “ton of requests” for Ethereum features.
The DAO had some good recent adoption news when Apple declared the DAO one of the very few platforms it would allow on iTunes. Di lorio was the one who broke that news after learning the multinational would not support cryptocurrency DASH. It’s ordained cryptocurrencies? Bitcoin, Dogecoin, Litecoin, Ethereum, the DAO and Ripple.
As for where Jaxx expects DAO token holders to go, they’ve yet to make any recommendations.
Image from Shutterstock.
Last modified: March 4, 2021 4:52 PM