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What is BitDAO all about
Decentralized Autonomous Organizations (DAOs) are a popular structure in crypto-related projects. BitDAO is a DAO, where governance of the system is done by BIT token holders. BitDAO aims to help create a decentralized economy, by aiding builders. Their vision is as follows. "An unstoppable economy enabled by decentralized assets, decentralized technologies, and decentralized organizations". BitDAO is supported by Peter Thiel, Founders Fund, Pantera, Dragonfly, Spartan, Bybit, and more.
In order to achieve their overarching goal, BitDAO employs several strategies and plans. In BitDAO's documentation we can find the following:
- Become the largest decentralized autonomous network of entities with fractal expansion.
- Create and partner with specialized autonomous entities. These include ecosystem funds, art, farming, R&D, venture, events, grants, education, DAO operations services, etc.
- Encourage autonomous entities to create and partner with autonomous entities of their own. Thus enabling fractal expansion.
- Partner with existing projects through token swaps and other methods.
- Find ways to avoid micro-decisions from bottlenecking by the top-level BitDAO governance process. Limit BitDAO governance to mandate and funding approval. Allow partners to be autonomous.
- Boost partners to become category leaders via R&D, liquidity, funding, and operational support.
- Attract builders and align incentives. Make the creation and operation of autonomous entities as convenient as possible.
- Focus on fast execution of ideas. Encourage experimentation with interim solutions based on policy, trust, and risk management mechanics. Iterate towards the long term solution involving governance and treasury management technologies.
- Find ways for BIT value to be correlated to the whole ecosystem. Treat proposals as synergistic but also a negotiation of economic terms.
BIT is BitDAO's governance token and it is required to participate in the organization. BIT utility is strictly connected to the organization's governance. Holders of BIT can propose and vote on various proposals. These include, but are not limited to:
- Giving grants to other blockchain projects.
- Allocation of treasury resources.
- Making updates to the BitDAO core protocols, governance, or treasury management.
- Providing liquidity to BitDAO partners.
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BIT Questions & Answers
Is BitDAO going to cost more in 90 days?
According to our price prediction we suspect that BitDAO's value is likely going to reach between €0 and €0.61 in 3 months.
Is BitDAO going to cost more in one month time?
According to our price prediction, we estimate that the cost of BitDAO will reach between €0 and €0.61 one month from now.
What will the BitDAO price be six months from now?
There is a great deal of difficulty in predicting the long term, but based on our price prediction algorithm we expect that the price of BitDAO will reach anywhere between €0 and €0.61 half year from now.
What was the highest historical price of BitDAO?
We saw the highest spike in the price of BitDAO on 2021-11-12, at 2.71 EUR.
What is the price of BitDAO right now?
Today, the price of BitDAO is at 0.41 EUR.
Does BitDAO have a large following on social media?
302 Reddit users subscribe to BitDAO's Reddit channel. BitDAO's Twitter profile is currently followed by 39964 users.
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