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BitDAO
About BitDAO
BitDAO (BIT) is a Decentralized Autonomous Organization aimed at boosting the decentralized economy. It is collectively owned and managed by its community of BIT token holders, who propose and vote on various matters. BIT tokens are used for governance, enabling holders to submit proposals and vote on issues. They also foster development and adoption of BIT-enabled products. The BitDAO Treasury, using Safe, manages the organization's assets. The BIT token, modelled on Compound Finance's COMP token, supports delegated voting and off-chain vote aggregation, with plans for on-chain governance in the future.
BitDAO (BIT) is an ambitious project that aims to support builders of the decentralized economy. It's one of the world's largest Decentralized Autonomous Organizations (DAOs) driven by the vision of open finance and a decentralized tokenized economy. The platform is an open space for proposals, which are voted upon by BIT token holders. It does not function as a company or have employees, instead, it represents a community of builders and stakeholders who hold BIT tokens, contributing towards the success of the project.
BitDAO (BIT) was not created by a single individual or entity. Instead, it operates as a DAO, which means it is collectively owned and operated by its community of BIT token holders. Everyone in this community can propose partnerships and protocol upgrades. The BitDAO Treasury, the official asset custody solution, uses a direct implementation of Safe to store its treasury assets.