What is BitDAO?
BitDAO is one of the largest DAOs (Decentralized Autonomous Organizations) in the world. BitDAO was founded with the vision of allocating significant capital and talent resources to drive DeFi’s growth, primarily in the areas of funding, R&D, and liquidity. BitDAO is managed by users who own the BIT – BitDAO’s governance token.
BitDAO is not a project aimed in specific areas like AMM or Lending, but a community that contributes to the development of DeFi through R&D (research and development), liquidity and support funding.
BIT Token Details
Key Metrics BIT
Token name: BitDAO.
Token standard: ERC-20.
Token type: Governance.
Total issue supply: 10,000,000,000 BIT.
The advantages of BitDAO
The DeFi industry has grown at a rapid pace over the past few years, which is a testament to the power of decentralized governance and management; as the DeFi space becomes increasingly populated with projects, there is a need for a decentralized mechanism to more broadly facilitate collaboration between different crypto ecosystems so that crypto can be driven to mass adoption.
BitDAO is uniquely positioned to help achieve this goal, as BitDAO has secured significant funding from high-profile investors. Not only that, but BitDAO has also built partnership with fast-growing crypto derivatives exchange Bybit, whose funding pool is set to expand even further. Most importantly, BitDAO has already started to provide the crypto community with high quality products and services, such as a fully decentralized tool; support for pass exchange with some popular DeFi protocols; grant funding for early-stage crypto projects; a key common mechanism for defining and enforcing priorities, etc.
Many early build decentralized autonomous organizations have similar goals to BitDAO, i.e., to create a decentralized venture capital fund, but these DAOs have a number of problems, such as lack of a governance plan, inadequate preparation and so on.
We believe BitDAO has unlimited potential to leverage its capital strength, technical knowledge, and deep industry connections to slowly become the highest decentralized cryptocurrency by market cap, and we look forward to BitDAO driving DeFi towards a more open and collaborative future.
Disclaimer: all the above information is not intended as investment advice, please consult professionals for investment.