Crypto: BitDAO considers $8.5 million investment proposal

A Decentralized Autonomous Organization (DAO) is an entity in the crypto value chain, whose decisions do not rest with a management team. Major decisions are subject to a vote of the holders of the native token of the ecosystem. Unlike the most famous DAOs, which administer DeFi projects, BitDAO is an investment DAO. It focuses its activities on the financing of projects falling within the scope of digital assets. Above all, she has made promoting the adoption of cryptos, on a global scale, her credo. BitDAO has just submitted an investment project to its community.

Will the BitDAO community validate the proposal?

Last week, decentralized autonomous organization BitDAO announced that it is voting on a proposal to earn a 15% annual return on a portion of its $2.1 billion treasury. The proposal is about the ability to deposit up to $8.5 million into the Ichi ecosystem. If it passes the voting stage, it will create returns for holders of the bit, the native token of BitDAO.

“Members of the BitDAO community have four deposit options to consider, ranging from 1 million to 20 million bit. The amount of the deposit would thus be between 425,000 and 8.5 million dollars at the current spot price of the bit token.explains the proposal document.

The BitDAO Project

For information, ICHI is a decentralized autonomous organization (DAO) which provides the necessary infrastructure for crypto projects, geared towards stablecoins. It provides certain performance guarantees. The treasury of the BitDAO crypto ecosystem is the second largest in the DAO space. It comes behind that of Uniswap.

If the proposal passes, it should improve the overall cash flow of the DAOs. It fell to $8 billion between June and July, right in the middle of the bear market. Recall that the combined DAO treasury had peaked at $13 billion in November 2021.

Receive a digest of news in the world of cryptocurrencies by subscribing to our new service of newsletter daily and weekly so you don’t miss any of the essential!

Similar Posts