DAOs.fun

DAOs.fun was a Solana launchpad where approved creators raised SOL into on-chain investment funds. Investors bought tokens in those funds, and the tokens then traded freely. It is best known as the place where ai16z started. The platform no longer launches new funds: on April 21, 2026, founder baoskee posted a farewell summary saying the team had stopped launching DAOs.

Is DAOs.fun shut down?

DAOs.fun has stopped launching new DAOs, but it has not said it is shutting down. The website still loads. Baoskee gave two reasons in his April 2026 post, as reported by Bitget News. Most users only wanted to speculate. And the "degen managed hedge fund" model had basic flaws: fund managers sold their tokens after a raise, or bought their own.

He said daos.fun helped start later trends such as internet capital markets (ICM) and AI agents. He called the whitelist "an interesting experiment".

News of the post did not say what happens to existing DAOs. As of late October 2026, the @daosdotfun X account has not posted in the past 30 days. Baoskee still posts on his own account, but his recent posts do not mention daos.fun.

How DAOs.fun worked

DAOs.fun went live on Solana in late September 2024. The idea was that crypto traders known on X could raise money from their followers and run an on-chain fund with it. Many funds bought memecoins, so the platform became known for "meme hedge funds". Each fund went through four stages.

• 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 sold at a fixed price during the raise, so every contributor paid the same price. IQ.wiki says that if a target was not met, contributors could withdraw but paid a 10% penalty.
• Trading phase. After a successful raise, contributors received DAO tokens. The creator got control of the fund's capital through a smart wallet and traded for the DAO. The DAO tokens traded on the DAOs.fun AMM, so their price could sit far above or below the fund's net asset value (NAV). Blocmates noted some DAOs trading at many multiples of NAV.
• Expiry and redemption. Each fund had a fixed life of about three months to a year, and the creator could close it early. At expiry, holders could burn their tokens for a share of the fund's holdings. SolanaFloor reported that profits were split 50/50 between creator and investors. The creator also collected a one-time "creator carry" when the fund closed.

DAOs.fun and ai16z

The best-known fund on DAOs.fun was ai16z. It launched in October 2024 and raised about 420.69 SOL. Its theme was an AI version of Marc Andreessen, and it later grew into the ElizaOS AI-agent project. When its token peaked in the billions at the end of 2024, DAOs.fun got a lot of attention. That made the platform a starting point for the AI-agent token wave.

Other funds included Kotopia DAO, which IQ.wiki says raised more than 4,207 SOL, and many much smaller ones.

Who DAOs.fun was for

DAOs.fun suited speculators who wanted exposure to a trader they followed on X and were willing to trust that person with their SOL. It also suited creators with a following who wanted to run a small fund without legal fund structures. It did not suit anyone who needed custody protections, enforceable manager duties or a token price tied to the fund's real value.

Today the platform matters mainly to two groups. One is holders of tokens from existing funds. The other is readers tracing the history of Solana's 2024 launchpad cycle and the AI-agent tokens that came out of it. No one can start a new fund on it.

Is DAOs.fun safe? Risks for DAO token holders

The model depended on trusting each creator. Once a raise closed, the creator controlled the fund's capital and could trade it as they chose. Blocmates warned early on that a creator could raise money and then use it to prop up a token they had launched themselves.

Two episodes showed the weak points:

• AICC, January 2025. Aiccelerate DAO (AICC) briefly passed a $300 million market cap after trading began on January 11, 2025, according to BlockBeats via ChainCatcher. It then fell as whitelisted holders, including KOLs and advisers who got small early allocations, sold right away. The article argued the whitelist relied on reputation alone, with nothing to stop insiders taking profit.
• HouseDAO, 2025. After problems with the HouseDAO fund, baoskee said the team would refund HouseDAO holders. He also promised a long-term mechanism to stop creators laundering money through manipulation.

DAO token prices were set by trading, not by the fund's holdings. Buyers could pay far more than the assets were worth. We found no public audit of the DAOs.fun programs. We also have no program addresses on file for it, so we could not check who can upgrade them. Anyone holding an existing fund's token should check that fund's status and its creator's activity before assuming it is still managed or can be redeemed.

DAOs.fun alternatives

We know of no live Solana app that copies the DAOs.fun model. Two launchpads come close in other ways:

• MetaDAO META$3,545.76-7.3% runs token sales for new projects. The founder does not hold the money alone. Markets decide how it is spent.
• Pump.fun is the main Solana memecoin launchpad. Its tokens trade on a price curve. No fund sits behind them.

In his farewell, baoskee said he would watch newer Solana apps such as pumpcade and megapot.

DAOs.fun founder and history

DAOs.fun was built by a developer who goes by baoskee. IQ.wiki lists Alliance DAO as a backer. Key dates:

• September 2024: the platform goes live on Solana.
• October 2024: ai16z raises its first SOL.
• January 2025: IQ.wiki cites a V3 upgrade. The AICC launch and sell-off follow.
• 2025: HouseDAO holders get refunds. Baoskee later pushes "Founder DAOs", where a project raises money through a DAO before it builds.
• April 21, 2026: the team stops launching new DAOs.

DAOs.fun put a managed fund inside a token that traded like a memecoin. In its founder's own words, the test ran into speculation and bad incentives.