BITUSD
BitDAO / United States Dollar (FTX:BIT/USD)
crypto

BitDAO is a DAO which endeavors to support the growth of open finance and develop decentralized, tokenized economies. Launched through and with Bybit, a derivatives exchange based out of Singapore, BitDAO deploys capital in tranches from its treasury to fund long-term projects such as art, R&D, venture, events, grants, education and more. Bybit formed BitDAO with the goal to fund different projects across the blockchain ecosystem: gaming, DAOs, DeFi, etc. Instead of structuring like a decentralized venture fund, BitDAO aims to fund and maintain entire blockchain ecosystems with large amounts of capital. Though the current focus is on Ethereum, BitDAO is chain agnostic. The overall vision for BitDAO is to support the growth of open finance and help develop decentralized, tokenized economies. In this manner, BitDAO operates as both capital provider as well as incubator and accelerator. BitDAO currently uses Gnosis Safe and Snapshot for governance with an open mandate and proposal process. Windranger Labs is one of the core contributing teams and their goal is to build alongside leading DeFi protocols and L1/L2s while utilizing the BitDAO treasury. Additionally, BitDAO teamed with Mirana Ventures to provide support on proposals.