BitDAO
Crypto Overview
Purpose and Intended Use
BitDAO is one of the world's largest Decentralized Autonomous Organizations (DAOs), launched in 2021. Its primary purpose is to promote and support the development of decentralized technologies and DeFi protocols through investments and grants. BIT token serves as the governance token for the DAO, allowing holders to vote on investment decisions and protocol changes.
Business Model and Operations
BitDAO operates as an investment and development collective, with token holders participating in governance decisions. The project maintains significant treasury assets (over $1.5B as of 2024) used for investments in Web3 projects and protocol development. The DAO has invested in various blockchain initiatives and supports multiple autonomous entities (SubDAOs) focusing on different aspects of blockchain development.
Real-World Adoption
BitDAO has demonstrated significant real-world utility through its investments and partnerships. The project has backed numerous blockchain initiatives and maintains active governance participation. The BIT token is actively used for voting on proposals and direction of the DAO's treasury.
Token Distribution and Governance
The token distribution includes vesting schedules for early contributors and investors. A significant portion of tokens is allocated for community treasury and ecosystem development. The governance system allows token holders to participate in decision-making regarding treasury management and investments.
Development Activity
BitDAO maintains active development across its ecosystem, with regular updates and improvements to its governance system. The project continues to launch new initiatives and SubDAOs, showing ongoing development commitment.
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.