Interesting side point to this: some people wondered why DAO units immediately traded at a discount and many thought it presented an "arbitrage" opportunity, bu

Interesting side point to this: some people wondered why DAO units immediately traded at a discount and many thought it presented an "arbitrage" opportunity, but this hack illustrates why it was always rational that the DAO should trade at less than the redemption value. The value of DAO units is capped on the upside, but not on the downside, and this hack is one way (of many) that downside risk could manifest itself.