DAOs.fun

DAOs.fun was a Solana launchpad where approved creators raised SOL into on-chain investment funds, and investors bought tokens in those funds that traded freely. It appears to be winding down. On April 21, 2026, founder baoskee posted a farewell message saying the platform would stop launching new DAOs.

Status

The daos.fun website still loads and uses the "Twitter anon to Hedgie pipeline" tagline. The platform has stopped taking new funds, though. According to reporting on baoskee's April 2026 statement, daos.fun helped start later trends such as internet capital markets (ICM), AI agents, and the AI token meta. He also said most of the community only wanted to speculate and that the "degen managed hedge fund" model had basic flaws. One flaw he named was fund managers selling their tokens after a raise or buying their own tokens. Coverage of the announcement did not say what would happen to existing DAOs or the platform's infrastructure. The official @daosdotfun X account has not posted anything we can find in the months since.

What it was

DAOs.fun went live on Solana in late September 2024. It was built by the pseudonymous developer baoskee, and IQ.wiki lists Alliance DAO as a backer. The idea was that crypto traders known on X could raise money from their followers and run an on-chain fund with it. Many of the funds bought memecoins, so the platform became known for "meme hedge funds."

How a fund worked

• Whitelisted creators. Only approved creators could start a fund. Approval was tied to the creator's X account, so the creator's public reputation was at stake. Early raises were capped at a small amount (reported as $15k at the time).
• Fundraise. A creator had one week to reach a SOL target. DAO tokens were sold at a fixed price during the raise, so every contributor paid the same price. IQ.wiki describes a 10% penalty for withdrawing during the fundraising period.
• Trading phase. Once a raise succeeded, contributors received DAO tokens, and the creator got control of the fund's capital through a smart wallet to trade for the DAO. The DAO tokens then traded on the DAOs.fun AMM. Their price moved with supply and demand and could sit far above or below the fund's net asset value. Blocmates noted some DAOs trading at many multiples of NAV.
• Expiry and redemption. Each fund had a fixed life of roughly three months to a year, and the creator could close it early. At expiry, token holders could burn their tokens for a proportional share of the fund's holdings. Profits were split between the creator and investors (SolanaFloor reported a 50/50 split), and the creator also collected a one-time "creator carry" when the fund closed.

Notable funds and incidents

The best-known fund launched on the platform was ai16z. It launched in October 2024 and raised about 420.69 SOL, was themed around an AI version of Marc Andreessen, and later grew into the ElizaOS AI-agent project. Its token's multi-billion-dollar peak at the end of 2024 brought a lot of attention to DAOs.fun. Other funds included Kotopia DAO, which IQ.wiki says raised more than 4,207 SOL in its first days, and many much smaller funds.

The model depended on trusting each creator. Blocmates warned early on that a creator could raise money and then use it to prop up a token they had launched themselves. In 2025, after problems with the HouseDAO fund, baoskee said the team would refund HouseDAO holders and build a long-term mechanism to stop creators from laundering money through manipulation. IQ.wiki also records a V3 platform upgrade in January 2025. Later, baoskee promoted a "Founder DAO" structure in which projects raise funds through a DAO before building.

Place in the Solana ecosystem

DAOs.fun was a well-known experiment in wrapping an actively managed fund in a token that trades like a memecoin. It sat alongside the Solana token launchpads of the 2024 cycle and was one of the main starting points for the AI-agent token wave that began with ai16z. Its founder's closing remarks describe the approach as an interesting experiment that ultimately ran into speculation and misaligned incentives. Anyone holding tokens from an existing DAOs.fun fund should check that fund's status directly before assuming it is still managed or can be redeemed.