The DAO was one of the first and most ambitious projects launched on Ethereum. Imagine a fully decentralized fund where tokenholders could invest in exciting new ventures together. It was supposed to be an unhackable pile of money. $250 million worth of Ether, about 16% of the available Ether supply was locked in the DAO. It was the biggest crowdfunding event in history. Then the DAO was hacked. Suddenly every single cent and even the survival of Ethereum was at risk.