- Category:Ethereum Ecosystem
- Coin Launched: August 2021
- Resources: White Paper
- Official Website: BitDao
- Reddit: BitDao
BitDao History / Information / Buying / Staking
BitDAO launched on August 3rd, 2021 with significant investment and credible backers to include Peter Thiel, Founders Fund, Bybit, Pantera, Spartan Fund, Sushiswap, Polygon, and Dragonfly Capital amongst many others. The DAO launched with a large view goal to build an entire economy of decentralized assets, technologies, and organizations through supporting builders executing a very wide range of ideas and experiments.
HOW BITDAO WORKS
BitDAO will provide funds to develop the DeFi ecosystem by developing DeFi products BitDAO and supporting other DeFi partners and projects. At the same time, they can also pay contributors to develop their own governance module, community management initiative or BitDAO platform in the future. The project plans to support these initiatives to encourage the rest of the community to keep contributing to them. All decisions are made through the BitDAO voting and recommendation system.
BENEFITS OF USING BITDAO
Some of the benefits of using BitDao are:
Stakeholder voting rights on important decisions that affect the network
Potential for high returns through staking and minting
CAN YOU STAKE BITDAO
Yes you can stake BitDao first, download the BitDAO wallet from the official website. Then, create a new account and generate a deposit address. Send some tokens to that address and start staking!
COINS SIMILAR TO BITDAO
Direct competition to BitDao which are considered similar coins are: