BitDAO (BIT Coin) is a decentralized autonomous organization that seeks to level the playing field for everyone in the world by establishing a decentralized token economy. This protocol is one of the newest and largest decentralized autonomous organizations focused on DeFi; its management is under BIT token holders.
DAO stands for Decentralized Autonomous Organization. In short, it is not dependent on any authority or center. BIT is also the governance token of this ecosystem. To be clear, we can say the following for DAO: It is a structure that tries to integrate the purpose of BitCoin emergence into real life. Because we are talking about a system managed by computer codes, that is a decentralized structure.
In this content, we answer the question of what BitDAO is, also touch on BitDAO partners.
What is BitDAO (BitCoin)?
BitDAO (BitCoin) is a decentralized autonomous organization that seeks to level the playing field for everyone in the world by establishing a decentralized token economy. The protocol is one of the newest and largest decentralized autonomous organizations focused on DeFi. Its management is by BIT token holders. The platform of BitDAO focuses on establishing next-generation solutions for on-chain governance, supporting cryptocurrency teams, and distributing community grants among public domain products. The project aims to attract developer talent through token swaps and joint development efforts. Token swaps will enable the BitDAO treasury to collect the best crypto project tokens.
BitDAO aims to partner with existing and emerging projects through token swaps. Token swaps will enable BitDAO treasury allocation to amass a collection of the best crypto coins. BitDAO aims to create core products to aid the functionality and effectiveness of BitDAO and other DAOs. The core product includes a range of on-chain and off-chain governance solutions and products, and the treasury management of DAO can allocate and monitor assets to generate returns. Additionally, BitDAO aims to provide grants for research or products to teams in the crypto industry. All of the grants have votes and awards in the public interest of the crypto world.
A brief review on BitDAO
If we list some targets of BitDAO (BitCoin), they will be:
- Partner with projects through token swaps and joint development efforts. Token swaps will enable the BitDAO treasury to collect a collection of the best crypto project tokens;
- Build core products that make BitDAO and other DAOs work more effectively. This issue includes on-chain and off-chain governance solutions and DAO treasury management solutions;
- Provide grants to teams that produce research or products in the public domain for the crypto industry;
- Token swaps with existing and emerging projects;
- Allocating treasury to various strategies;
- Liquidity support for joint projects;
- Grants or milestone awards to development teams and R&D centers (for creating BitDAO products or supporting collaborative products);
- Grants to blockchain technology projects, educational programs, or other blockchain public goods;
- Updates to BitDAO core protocols include management and treasury management functions;
- The total supply amount of the BitDAO is 10.000.000.000 BIT.
Who are the founders of BitDAO (BitCoin)?
BitDAO has no founders. The launching procedure of the project was started by a group of contributors with BIT tokens. There is no team or company behind the protocol (since it is a DAO). This matter means that various people can propose changes to the BitDAO protocol, and it is up to the BIT owners (contributors) to vote on whether to accept them. It is under the support of one of the largest DAOs, Peter Thiel, Founders Fund, Pantera, Dragonfly, Spartan, Bybit, and others.
Ben Zhou, CEO of Bybit, said about BitDAO says:
“At Bybit, we are constantly inspired and surprised by bold and creative experiments in the crypto space and talented and determined people working towards a better financial future.”
Singapore-based cryptocurrency exchange Bybit recently announced the listing of the “BIT” token on the Bybit Launchpad platform. Bybit’s BIT listing includes launch rewards for participants.
Bybit stands out as the first proponent of BitDAO, and we know that BitDAO is committed to contributing 2.5bps futures volume to its treasury.
BitDAO price future
BitDAO is a massively growing cryptocurrency. You may also know this crypto as BIT. Since 2022, we observe more and more cryptocurrencies in the news. Cryptocurrencies have started to become more known to people. More and more people are deciding to invest in cryptocurrencies, so BitDAO is growing. BitDAO has a large community behind it, and multiple developers are working on it. Bitunivex is also aiming to prepare a smooth trading experience of this token for the investors.
As we mentioned, BitDAO has grown a lot over the last few years; people get that this is a brilliant crypto project in the international crypto market.
As we just mentioned, BitDAO has grown in previous years. This issue has a positive impact on price predictions for this crypto. Also, BitDAO is busy expanding its partnerships and investments. All these actions and developments cause experts to offer some optimistic predictions for BitDAO in the future. To sum up, experts have positive expectations and expect prices to rise in the near and far future. It is impossible to predict a rising level for crypto, and for that, we in Bitunivex will wait together to see the future rates.
In the previous paragraph, we explained experts have optimistic forecasts for BitDAO. Of course, it is much more interesting to know what this cryptocurrency will do in the long run, for example, in 2025 and 2030. Will the price increase in the next five or ten years? And how much will it increase? These are all questions most investors want to know, but unfortunately, no one can definitively answer them. If we look at the current crypto market rationally, we can conclude that it has not reached its peak yet; there are still many possibilities for growth. From this rational perspective, we can predict that prices will increase even more in the future; this could mean that the price forecast for BitDAO will be more than it currently is. We, as the Bitunivex, are so optimistic about predicting the future for BitDAO.