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Insane how there will be a pool of $6m worth of DAO tokens to be distributed according to the will of trustees.

Maybe I'm not understanding correctly, but that seems to be the dumbest thing I've ever heard of in the context of a trustless system of computation.

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I also know only as much as you, and it seems hilariously weak. Shouldn't it be possible to make a smart contract that dispenses it in accordance to the whims of ETH stakeholders? I guess the trustees will need to decide...

nope, that's exactly correct. They even use the term "trustees".

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