BitDAO
Crypto Overview
Overview and Intended Utility
BitDAO is one of the world's largest Decentralized Autonomous Organizations (DAO), launched in 2021. It aims to promote and support the growth of decentralized finance (DeFi) through funding, research, and development of various blockchain initiatives.
Business Model & Actual Utility
The BIT token serves primarily as a governance token, allowing holders to vote on investment decisions, protocol changes, and resource allocation within the BitDAO ecosystem. The DAO maintains a substantial treasury (approximately $2.1 billion as of 2024) used to fund various blockchain initiatives and investments.
Real-World Adoption
BitDAO has demonstrated significant real-world utility through its investments and partnerships, including funding for Layer 2 solutions, GameFi projects, and DeFi protocols. The project has backed notable initiatives like Game7, EduDAO, and zkSync.
Token Distribution & Governance
The token distribution shows a relatively fair structure with significant community allocation. Major backers include Bybit (who pledges regular contributions from trading fees), Peter Thiel, Founders Fund, and Pantera Capital. There are clear vesting schedules for early contributors and team members.
Development Activity
The project maintains active development across multiple initiatives, with regular governance proposals and treasury management activities. The focus appears to be on legitimate ecosystem development rather than token price speculation.
Crypto Impact
To assign a comfort level investing in BitDAO from a halal perspective we need to determine whether it has a net positive or negative impact.
Towards this end, the table below is used to tally all the positive and negative considerations our members can think of related to BitDAO.
If you don’t see something that should be listed, positive or negative, feel free to submit your own contribution using the button “Contribute”.
We will review your contribution for accuracy before publication.
Importantly, you can review listed contributions and vote on which one you think has the greatest impact, positive or negative.
You only have one vote per asset so use it wisely.
You can change your vote if you change your mind.