What is the BitDAO project? Overview of the BIT . token

• BitDAO project overview
• Highlights of the BitDAO project
• How does BitDAO work?
• Development team
• Investors
• BIT token information
• Basic information about the BIT . token
• Token Allocation
• Token Release Schedule
• Token Use Case
• Where can you buy BIT?
• Project website and social network
• Conclude

BitDAO project overview

What is BitDAO?

As mentioned above, BitDAO is a decentralized autonomous organization that wants to level the playing field for everyone in the world by building a decentralized token economy. This protocol is one of the world's newest and largest decentralized autonomous organizations focused on DeFi and managed by holders of the BIT token (BitDAO ecosystem governance token).

Highlights of the BitDAO project

• BitDAO is not a company. It has no management team or staff.
• BitDAO is a collection of contributors. Contributors will hold BIT tokens and are motivated to make the DAO successful.
• Different individuals and groups will propose changes to the BitDAO protocol. BIT holders have the right to vote to accept or reject these proposals.
• Holding BIT allows you to submit and vote on proposals. It does not allow you to impose your will on other contributors.
• BitDAO will be a growing project and community leaders will emerge from time to time. Governance recommendations and community input will influence the direction of the project.
• BitDAO's vision and mission will be driven by token holders, contributors, and community leaders.

How does BitDAO work?

Through the token swap to co-develop projects, will allow Treasury BitDAO to accumulate a collection of leading crypto project tokens.

Focus on building core products that enable BitDAO and other DAOs to work more efficiently. This includes internal and off-chain governance solutions as well as Treasury DAO management solutions.

BitDAO supports 3 main projects including: Research & Deverlopment, Liquidity and Capital.

• Research & Deverlopment: Building Research – Development centers with top talents in all fields related to blockchain. Thereby building and developing BitDAO's own DeFi products or supporting other potential DeFi projects.
• Liquidity: With the amount of assets in its Treasury, BitDAO helps to provide liquidity to the projects it supports. Especially DeFi protocols that need initial liquidity such as DEX, Lending, Aggregator...
• Capital support: Support the development of new projects through protocols such as Gitcoin… or token swap.

Development team 

One of the first units responsible for the development of BitDAO (BIT) was the ShushiSwap development team led by 0xMaki. This unit supported the development of BitDAO (BIT) in terms of engineering, design, budget management, and roadmap shaping.

Going forward, BitDAO (BIT) and ShushiSwap will continue to cooperate for a long time with the common goal of building a sustainable financial future (this proposal is currently awaiting community approval).

Investors

BitDAO has raised $230 million from various investors such as Peter Thiel, Pantera Capital , Dragonfly Capital and Founders Fund, Spartan Group, Jump Capital, Fenbushi, Kain Warwick of Synthetix...

In addition, Bybit, one of the largest cryptocurrency derivatives exchanges in the world, was the original main proponent of BitDAO, committing periodic contributions to the project upon launch. The company specifically commits to contribute 0.025% of its futures trading volume to the BitDAO treasury every day, which is expected to generate over US$1 billion annually.

BIT token information

Basic information about the BIT . token

• Token Name: BitDAO 
• Ticker: BIT
• Blockchain: Ethereum
• Token Standard: ERC-20
• Contract: 0x1A4b46696b2bB4794Eb3D4c26f1c55F9170fa4C5
• Token type: Utility
• Total Supply: 10,000,000,000 VND

Token Allocation

• Bybit Locked: 45%
• Ecosystem Swap: 30%
• Bybit Flexible: 15%
• Launch Partners Rewards: 5%
• Private Sale: 5%

Token Release Schedule

Token Use Case

Here are some benefits of the BIT token:

• Swap assets in the BitDAO project's Treasury with an external project.
• Used to propose and vote on decisions to improve and upgrade the project.
• Used to change the product parameters of the project.
• Used to transfer assets in the BitDAO Treasury to other addresses.
• Used to vote for DAOs from other partners.

Where can you buy BIT?

Currently, BIT tokens have been listed on exchanges such as MEXC, Gate, SushiSwap, Bybit... You can absolutely buy BIT tokens on those exchanges, as long as you have registered a trading account on them. there.

Project website and social network

Official website and social networks of the project:

Website BitDAO   | Twitter | Discord | Telegram | Reddit | Medium | LinkedIn | Instagram | Facebook

Conclude

So in this article, we learned about the BitDAO project and the BIT token together. As we all know BIT token is the token of Bybit exchange. Therefore, when holding this token on Bybit exchange, you will have extremely attractive incentives. Hope you will get useful information about this project through our article. Good luck with your investment decisions.

• BitDAO Launches Testnet for Layer 2 Mantle Network
• Alameda Research promises to provide evidence after the BitDAO community's suspicions