A decentralized autonomous organization (DAO) is an entity in the cryptocurrency value chain, whose decisions are not up to a management team. Important decisions are subject to the vote of the holders of the ecosystem’s native token. Unlike the more famous DAOs, which administer DeFi projects, BitDAO is an investment DAO. It focuses its activities on the financing of projects that fall within the scope of digital resources. Above all, it has made promoting the adoption of cryptocurrencies, on a global scale, its creed. BitDAO has just presented an investment project to its community.
Will the BitDAO community validate the proposal?
Last week, the 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 it’s about the ability to deposit up to $ 8.5 million in the Ichi ecosystem. If it passes the voting stage, it will create returns for the holders of the bit, the native token of BitDAO.
“BitDAO community members have four deposit options to consider, ranging from 1 million to 20 million bits. The deposit amount would therefore be between $ 425,000 and $ 8.5 million at the current bit token spot price.explains the proposal document.
For information, ICHI is a decentralized autonomous organization (DAO) that provides the necessary infrastructure for cryptographic projects, geared towards stablecoins. It provides some performance guarantees. The BitDAO crypto ecosystem treasure is the second largest in the DAO space. She comes behind that ofSwap.
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 peaked at $ 13 billion in November 2021.
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Far from dulling my enthusiasm, a fruitless investment in a cryptocurrency in 2017 only increased my enthusiasm. I therefore decided to study and understand the blockchain and its multiple uses and to transmit information relating to this ecosystem with my pen.