# kaal:claim:3411897-009

**Claim.** The first DAO removed, in essence, all of the core control mechanisms that principals typically employ in agency relationships, having no directors, no managers, and no employees.

**Type.** empirical  **Support.** asserted

**Holds when.**

- refers to the DAO launched in May 2016 on Ethereum

**Source quote.**

> Indeed, it had no directors, managers or employees. In essence, all the core control mechanisms typically employed by principals in agency relationships were entirely removed in the DAO.

**From.** Wulf A. Kaal, *Decentralization - Past, Present, and Future* (2019), Part I: The Past, Types of Decentralization, page 13

**Cite as.** Wulf A. Kaal, Decentralization - Past, Present, and Future (2019). SSRN: https://ssrn.com/abstract=3411897

**Verify.** sha256 of source PDF `82f0aea026b3e3a526ec51bc073b3b864dc06cd9083ff9c54c550037045edaa9` at https://raw.githubusercontent.com/wulfkaal/Academic-Papers/main/papers/pdf/Kaal%20-%202019%20-%20Decentralization%20-%20Past%2C%20Present%2C%20and%20Future.pdf

**Topics.** dao, corporate-governance, governance-design

**Keywords.** dao, agency-costs, corporate-structure, governance

**Related claims.**

- restates: https://wulfkaal.github.io/claims/3373393-029
- restated_by: https://wulfkaal.github.io/claims/3808852-015

**Canonical form.** This markdown file is the canonical hashed representation of the claim. Its sha256 is the content hash used for attestation.