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About BitDAO
- BitDAO is a decentralized autonomous organization (DAO) focused on DeFi.
- It aims to level the playing field for everyone by building a decentralized token economy.
- Managed by holders of BIT tokens.
Founders
- No founders; maintained by a group of contributors holding BIT tokens.
- Supported by Peter Thiel, Founders Fund, Pantera, Dragonfly, Spartan, Bybit, and others.
What Makes BitDAO Unique?
- Partners with existing and emerging projects through token swaps.
- Builds
About BitDAO: Empowering the Future of Decentralized Governance
Introducing BitDAO (BIT): A Revolutionary Governance Token
BitDAO is a pioneering decentralized autonomous organization driven by a vision to democratize access to financial opportunities, thereby empowering individuals worldwide. By establishing a decentralized token economy, this protocol has emerged as one of the largest and most innovative decentralized autonomous organizations in the world, with a focus on DeFi, and is governed by a community of BIT token holders.
One of the initiative’s primary objectives is to lure top developer talent through strategic token swaps and collaborative development endeavors. These token swaps will empower the BitDAO treasury to amass a diverse portfolio of premier crypto project tokens.
BitDAO envisions a future of open finance and a decentralized, tokenized economy. The organization aims to provide multifaceted support to a diverse range of projects, encompassing DeFi, DAOs, NFTs, and gaming, through research and development initiatives, liquidity bootstrapping, and targeted funding.
The Visionaries Behind BitDAO: Unveiling the Founding Team
BitDAO is a decentralized entity devoid of founders, with its development and maintenance entrusted to a collective of contributors who hold BIT tokens.
The protocol operates independently, devoid of centralized teams or companies, as a decentralized autonomous organization (DAO). This enables diverse individuals to submit proposals for amendments to the BitDAO protocol, which are then subject to a voting process by BIT holders (contributors), who ultimately decide whether to accept or reject these suggested modifications.
Backed by an impressive roster of esteemed investors, including Peter Thiel, Founders Fund, Pantera, Dragonfly, Spartan, and Bybit, among others, this DAO stands as one of the largest in the industry.
Notably, Bybit has been a stalwart supporter of BitDAO from its inception, committing to recurring donations to the BitDAO treasury, which, at 2021 rates, surpasses a staggering $1 billion annually. For further insight, please refer to:
https://www.bitdao.io/analytics/
Unveiling the Unparalleled BitDAO: A Trailblazer in the Cryptoverse
BitDAO seeks to forge strategic alliances with established and burgeoning projects through token swaps, thereby enabling the BitDAO treasury allocation to amass a diverse portfolio of premier crypto tokens, with a primary focus on spot and derivatives decentralized exchanges (DEXes).
BitDAO is dedicated to developing core products that enhance the functionality and efficacy of BitDAO and other decentralized autonomous organizations (DAOs). The core product suite comprises a range of on-chain and off-chain governance solutions and products, empowering the DAO’s treasury management to strategically deploy and monitor assets to generate yield. Furthermore, BitDAO is committed to providing grants to teams within the crypto industry, supporting research and product development initiatives that benefit the broader crypto community, with all grants subject to a voting process and awarded for the greater good of the crypto ecosystem.
Among BitDAO’s key objectives are:
- Forge strategic partnerships through token swaps and collaborative development initiatives, thereby enriching the BitDAO treasury with a diverse portfolio of prominent crypto project tokens;
- Develop core products that enhance the operational efficiency of BitDAO and other decentralized autonomous organizations (DAOs), including on-chain and off-chain governance solutions, as well as DAO treasury management tools;
- Offer grants to teams that create research or products that serve as public goods for the broader crypto ecosystem.
All treasury decisions will be dictated by the collective will of BIT token holders, who will exercise their authority through a rigorous proposal and voting mechanism.
- BitDAO is a decentralized entity, devoid of a traditional corporate structure, management team, or employees.
- It is a collective of contributors united by a shared vision, with BIT token holders driven to propel the project forward.
- Diverse individuals and teams will submit proposals for amendments to the BitDAO protocol, which will be subject to approval or rejection by BIT holders through a voting process.
- Holding BIT tokens grants the right to submit and vote on proposals, but does not confer the authority to impose one’s will on fellow contributors.
- As a dynamic and evolving project, BitDAO will witness the emergence of community leaders over time, with governance proposals and forum engagement influencing the project’s trajectory.
- The vision and mission of BitDAO will be shaped by the collective efforts of token holders, contributors, and community leaders, fostering a collaborative and decentralized ecosystem.
What Is the Circulating Supply of BitDAO (BIT) Coins?
Currently, market statistics for BitDAO coins are unavailable, as trading has yet to commence. Nevertheless, BitDAO is targeting an initial distribution of 200,000,000 BIT tokens.
The distribution breakdown is as follows:
Private Sale – 5% (10,000,000 $BIT)
Introducing Launch Partner Rewards – 5% Allocation (10,000,000 $BIT)
The BitDO Treasury – 30% Allocation (600,000,000 $BIT)
In Partnership with Bybit: Flexible Terms – 15% (300,000,000 $BIT)
Strategic Partner (Bybit) Locked – 45% (900,000,000 $BIT)
The token distribution is subject to vesting, with a private sale scheduled for October 15, 2021. Notably, the BitDAO treasury retains 30% of the total tokens, which are allocated proportionally among contributors (token holders) based on their individual token holdings. These treasury tokens are earmarked for various purposes, including rewards, grants, and swaps, with their utilization determined by contributor proposals and voting outcomes.
Bybit boasts the largest proportion of BIT tokens, comprising both flexible and locked tokens. These Bybit tokens are earmarked for Research and Development (R&D) initiatives. Furthermore, Bybit has committed to making a substantial contribution to the BitDAO treasury.
The Security Paradigm of the BitDAO Network
The BitDAO Platform employs state-of-the-art SSL encryption to safeguard the personal data of its users, ensuring a secure environment for all platform interactions. Furthermore, BitDAO has formed a strategic partnership with Amber, a renowned entity invested in cutting-edge cyber and crypto security solutions, which leverages industry-leading security infrastructure providers such as Fireblocks and BitGo.
BitDAO is a decentralized entity owned and governed by its community of BIT token holders, with all actions and decisions executed solely after a successful proposal and vote, ensuring a truly democratic and community-driven approach.
- Strategic token swaps with esteemed existing and burgeoning projects.
- Optimized treasury allocation across diverse investment strategies.
- Provision of liquidity support to foster growth in partner projects.
- Awarding of grants or milestone rewards to innovative development teams and R&D centers (focusing on the creation of BitDAO products or supporting partner projects).
- Philanthropic grants allocated to pioneering blockchain technology projects, educational initiatives, and other blockchain-centric public goods.
- Continuous updates and refinements to the BitDAO core protocols, encompassing governance and treasury management functions.
BitDAO Trading: Anticipated Commencement Timeline
As of August 16, BitDAO trading has officially commenced.
Acquiring BitDAO (BIT): A Comprehensive Guide to Exchanges and Marketplaces
You can access a comprehensive list of markets where BitDAO is actively traded by navigating to the markets tab, conveniently located
here
.
For a comprehensive guide on navigating the process of purchasing a cryptocurrency, please click here.
Discover More at
https://medium.com/bitdao/introducing-
We are thrilled to introduce
BitDAO
, a decentralized autonomous organization that is poised to revolutionize the world of decentralized finance. For more information, please visit our
official documentation
.
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