BIT token from the Bybit exchange - Bybit coin price

 BitDAO is one of the largest DAOs globally, backed by Peter Thiel, Founders Fund, Pantera, Dragonfly, Spartan, By bit, and other partners.

By bit has announced regular contributions to the BitDAO investment fund, which at 2021 rates exceed $1 billion a year. 

The vision of BitDao is available to finance and a decentralized tokenized economy. This DAO plans to support various projects, including decentralized finance (Defi), DAOs, NFTs, and games. The platform will provide development support as well as seed liquidity and funding.

Content

• What is DAO

• BIT token — the price of By bit cryptocurrency

• How to get/buy BIT tokens

• Conclusion

What is DAO

DAOs allow token holders to manage the main actions of the platform: using the assets in the fund or making changes to the project code.

BitDAO is a DAO controlled by BIT holders. This is not a company; it has no bosses and employees. 

Individuals, development teams, or research labs can submit proposals for upgrades, token swaps, and partnerships with other platforms. BIT holders will vote to accept or reject such bids.

BIT token — the price of By bit cryptocurrency

The By bit exchange token gives control over the fund and the protocol. 

The current BIT price is $0.00006. The new price represents a new all-time high of $0.00006.

Holders of the BIT cryptocurrencies lead and manage the BitDao, while the following actions are performed only after a proposal and a vote:

• exchange of tokens with existing and new projects.

• Distribution of funds for various strategies.

• Liquidity support for partner projects.

• Grants or awards for achievement to development teams and research centers (when creating BitDAO products or supporting partner products).

• Grants for projects in blockchain technologies, educational programs or other public activities for the blockchain.

• Updates to the main protocols of BitDAO (including the functions of managing and disposing of the fund).

BitDAO will collaborate with other projects through token swaps and joint development.

Swap is the exchange of tokens and the collection of coins from the best existing and new DeFi and crypto projects. Such swaps will allow projects to be on the same wavelength. BitDAO will support partner projects on their way to leading positions. One of the priorities is spot and decentralized derivative exchanges. Development - the creation of essential products that improve the efficiency of BitDAO and other DAOs, including:

• A management package consists of on-chain and off-chain products and advanced developments.

• Investment and investment fund management are tools for DAOs to invest in and control investment and "subsidized" assets.

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Grants – allocated to teams involved in the research and release of products in the field of public goods for the crypto industry.

BitDAO benefits from the success of our partners and the industry as a whole.

With billions in assets and regular contributions, BitDao will continue to establish partnerships, accumulate the best DeFi assets, and release valuable products. BitDAO partners and products will also contribute to the fund's replenishment, accelerating the dynamics of accumulation.

How to get/buy BIT tokens

The BIT token is a recent addition, so it may not be available on some exchange trading platforms. BIT is currently available for purchase through SushiSwap.

BIT tokens became available on the Bybit platform on September 17, 2021, as part of the debut of the Launchpad project.

Conclusion

BitDAO has every chance of becoming an influential player and market participant in a decentralized tokenized economy. The flexibility and transparency of DAO governance allow BIT holders to “create their own compelling stories.” The possibilities are endless.

BitDAO will continue to evolve, and community leaders will emerge over time. Management proposals and participation in the development of this site will influence the project's direction. The goals and vision of BitDAO will be driven by token holders, private investors, contributors, and community leaders.

BitDAO allows multiple independent teams to coordinate proposals, negotiate partnerships, and develop products for approval by the fund's management. Hundreds of developers and coordinators can participate in the BitDAO mission, but BIT holders will vote for the best ideas.