BitDAO
Crypto Overview
BitDAO is one of the world's largest Decentralized Autonomous Organizations (DAO), launched in 2021. It functions as a decentralized investment and development organization focused on supporting various blockchain and Web3 initiatives.
Purpose and Utility
The BIT token serves as a governance token that allows holders to participate in the DAO's decision-making process. Token holders can vote on proposals regarding treasury management, investments, and protocol developments. The DAO maintains one of the largest treasuries in the DeFi space, currently valued at over $2.5 billion.
Business Model and Operations
BitDAO's primary activities include making strategic investments in DeFi protocols, funding blockchain research and development, and supporting various Web3 initiatives. The organization receives regular contributions from Bybit exchange and manages these assets through community governance.
Real-World Adoption
BitDAO has demonstrated significant real-world utility through its investments and partnerships. Notable initiatives include supporting projects like Game7 (blockchain gaming), EduDAO (web3 education), and zkSync (layer-2 scaling solution). The DAO actively participates in legitimate blockchain development and ecosystem growth.
Token Distribution
The token distribution shows a relatively fair allocation, with no concerning concentration among founders. There are clear vesting schedules for early participants, and the treasury management is transparent and controlled by token holders through governance.
Development Activity
The project maintains active development across its various initiatives, with regular governance proposals and treasury management activities. The ecosystem continues to expand through new partnerships and investments in legitimate blockchain projects.
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.