Bybit Contributes $134 Million to BitDAO Treasury to Invest in Open Finance and Blockchain | HackerNoon

  • 📰 hackernoon
  • ⏱ Reading Time:
  • 71 sec. here
  • 3 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 51%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

'Bybit Contributes $134 Million to BitDAO Treasury to Invest in Open Finance and Blockchain' bybit dao

its support for BitDAO by contributing $134 million in Ethereum, USDT and USDC to the BitDAO treasury. BitDAO seeks to assist those who are working to create a decentralized economy. It’s a public forum where BIT token holders may vote on ideas. It is unconcerned about chains or initiatives.

BitDAO is a DAO governed by BIT token holders. Through the proposal and voting process BIT token holders will determine the actions and direction of BitDAO. BIT token value is correlated to the ecosystem’s success via various economic links . Anyone can propose partnerships and product upgrades for BitDAO. BIT token holders will vote on whether to approve or reject these proposals. Ideas need to provide sufficient analysis and be executable.

Further, Bybit users can now deposit and withdraw Ether, Tether and USD Coin on the Arbitrum. Arbitrum is an Ethereum Layer 2 scaling solution and one of the first optimistic rollups that seek to relieve congestion on the Ethereum mainnet. BitDAO grants and contributions are expected to increase the open finance and decentralized token ecosystem.DAO is a structure used by many crypto projects.

The structure of a DAO is inherently open and accountable, a forcing function to share value with the participants who create it. Otherwise, other DAOs will out-compete them or their participants will leave for other opportunities. DAOs as open economies will power the X-to-earn trend, making work more flexible, fluid, and playful than the 9-5s we are accustomed to. The openness of these crypto economies will allow people to participate in several DAOs and crypto-networks, mixing and matching different income streams and ownership returns.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

BitDAO_Official

WOW! Check MetaAngelDAO out! totally mindblown!

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 532. in CA

Canada Canada Latest News, Canada Canada Headlines