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.
BitDAO_Official
WOW! Check MetaAngelDAO out! totally mindblown!