The DAO code has implemented the Standard Token: https://github.com/ethereum/EIPs/issues/20
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Tokens are created by sending ether to the DAO during the creation period. There is different ether/token creation ration during the period, as specified in the white paper section 5:
This means that after 14-May-2016 09:00 UTC you will pay 1,05 ETH per 100 Token and so on.
There are two ways to create those tokens.
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