Decentralized Autonomous Organization or DAO is a revolutionary concept that has gained immense popularity in the cryptocurrency industry.

（Cointime,April 19th）The Arbitrum Foundation has launched DAO governance for its Arbitrum One and Arbitrum Nova networks, marking a significant step forward in decentralization. The $ARB token will give governance power to the DAO, with 12.75% of the token supply being airdropped on March 23.

Pear Protocol, an on-chain spread trading platform, has raised $1.25 million in its latest seed investment round. The dapp will launch on Ethereum layer-2 Arbitrum and will allow traders to use their entire portfolio as collateral to cover various positions, making it easier to pair trade on decentralized derivative platforms.

Web3 do not synonymous with Blockchain. It amalgamates different technologies, becoming a catch-all term for a new, better internet. At its core, Web3 uses blockchains, cryptocurrencies, and NFTs to return control in the form of ownership to the users.

Utah Governor Spencer Cox has signed two bills into law aimed at supporting the innovation of developing technologies in the state. The first bill, HB 470, requires Utah's Division of Technology Services to launch a pilot program for digitally verifiable credentials on-chain in a bid to prevent the unauthorized alteration of electronic records. The second bill, HB 357, establishes that DAOs that have yet to register as for-profit or non-profit entities shall be treated legally as domestic limited liability companies. The laws follow the Utah legislature's passage of its Decentralized Autonomous Act last month and the establishment of the Blockchain and Digital Innovation Task Force earlier this month.

The dates for Ash Environmental DAO’s token sale have been made public. Participants will have the opportunity to buy the Ash token during the event, which will take place from April 17 to May 7.

Aragon, a pioneer in the deployment of decentralized autonomous organizations (DAOs), has just launched its new tech stack on the Polygon blockchain. The new tool kit aims to lower barriers for individuals to create DAOs by providing modular protocols and plugins for on-chain governance, such as voting and membership management, and requires no coding skills.

A Californian Federal Judge has issued an official order for the filing of a class-action lawsuit against the owners of BZRX, a supposed governance token, with regards to a $55 million hack. The judge believes the owners should be held responsible and has refused their request for closure of the lawsuit, stating that the BZRX tokens provide control of the protocol and revenue. The case raises questions about accountability and ownership in decentralized autonomous enterprises, with some arguing that the industry often conflates decentralization with trustlessness. The founders of bZx DAO, who are also the defendants, arguing that they do not possess any control of the crypto deposited by users and are not answerable to them. The judge's order supposes that taking part in governance could determine if a holder of BZRX is a general partner. (cryptonewsz)

Hydra Ventures, a decentralized investment fund, said it raised $10 million to invest in other investment-focused decentralized autonomous organizations (DAO).

A U.S. court in California has ruled that bZx protocol and governance token-holding members of its DAO were negligent and liable for losses resulting from a hack that drained its treasury. While the court dismissed some claims, such as personal liability for breaching the fiduciary duty of the founders, it allowed negligence claims to proceed, creating a landmark ruling in the liability of governance token holders in DAOs. This decision implies that DAO members might be held liable for negligence, potentially undermining the decentralized nature of DAOs while providing a defence for founders accused of wrongdoing. The case stems from the $55 million hack of DeFi lender bZx in 2021. The bZx DAO passed a governance motion to compensate token holders 1:1 for their lost BZRX tokens and a debt repayment plan, but the time horizon of this repayment plan was unacceptable for holders, leading to the class action suit. The bZx DAO was later rebranded to Ooki DAO, which many have called its successor. (Coindesk)