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BitDAO

BIT

Price
$0.30
11/27/2022, 5:17:48 AM
diamondHands

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Market

Market stats

Market cap

$625.1M

Volume (24h)

$5.4M

Circulating supply

2.1B BIT

Typical hold time

15 days

Trading activity

Not enough data

Popularity

#42

All time high

$3.64

Price change (1h)

+0.21%

Price change (24h)

-0.37%

Price change (7d)

-0.53%

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BitDAO is on the decline this week.

The price of BitDAO has fallen by 0.53% in the past 7 days. The price declined by 0.37% in the last 24 hours. In just the past hour, the price grew by 0.21%. The current price is $0.29945 per BIT. BitDAO is 91.77% below the all time high of $3.64.

The current circulating supply is 2,090,946,168.861 BIT.

About

BIT is an Ethereum token that governs BitDAO, a protocol designed to support builders of decentralized technologies. BitDAO plans to provide grants for development of decentralized technologies including DeFi apps, governance protocols, layer 1 or layer 2 blockchains, privacy, and NFTs. Proposals, treasury allocations, and protocol changes can be voted upon by BIT token holders. Note: Coinbase only supports BIT on the Ethereum blockchain (ERC-20).

What Is BitDAO (BIT)?

BitDAO aims to create a DAO (decentralized autonomous organization) with billions in forecasted contributions and existing assets. The platform has a focal mission to support builders of the decentralized economy. In addition, BitDAO functions as an open platform that accepts proposals, and the platform’s token holders can vote upon these proposals. The proposals can be direct partnerships or swaps with numerous projects, or expansion through specialized autonomous entities, including ecosystem funds, artist guilds, farming cooperatives, and R&D Labs.

BitDAO endeavors to build an economy that gets continuous support from decentralized assets, decentralized technologies, and DAOs. The platform simply wants to showcase the potential of DAOs.

Next, the BitDAO ecosystem works toward becoming the largest autonomous network by creating and partnering with specialized autonomous entities. This process generates ecosystem funds, art, farming, R&D, venture, events, grants, DAO operation services, education, etc. The platform also encourages autonomous entities to create and partner with other similar entities to enable fractal expansion. BitDAO boosts its partners to become category leaders via R&D Labs, liquidity, funding, and operational support. Moreover, BitDAO seeks to make the creation and operations of autonomous entities as efficient and convenient as possible.

According to the BitDAO ecosystem, the key to success is partnering up with top projects and explicitly created autonomous entities. BitDAO aims to have billions in assets and recurring contributions. The success of BitDAO solely depends on its partners; the success of partner projects is directly proportional to the value of BitDAO treasury.

The BitDAO platform is owned and governed by the BIT (governance token of BitDAO) token holders. The initial governance policy includes token swaps with existing and upcoming projects along with treasury allocation and updates of BitDAO core protocols. The BitDAO governance functions in two phases. 

In phase 1, BitDAO uses the standard setup of Gnosis Safe, Gnosis Snapshot off-chain governance, and multi-signature administrators.

Phase 2 consists of building a customized governance module. Gnosis Safe provides crypto projects with multi-sig control, and Gnosis Snapshot functions as an off-chain vote aggregation platform.Multi-sig is an abbreviation for multi-signature, a sort of digital signature that allows two or more people to sign documents as a group.

History of BitDAO (BIT)

BitDAO is a community-driven project with numerous builders and stakeholders. The community holds the BIT tokens and is highly motivated to provide continuous support for the success of this project. The maximum total supply for the BIT token is 10,000,000,000.

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FAQ

What is the current price of BitDAO?

The price of 1 BitDAO currently costs $0.30.

What is the market cap of BitDAO?

The current market cap of BitDAO is $625.10M. A high market cap implies that the asset is highly valued by the market.

What is the all time high of BitDAO?

The all-time high of BitDAO is $3.64. This all-time high is highest price paid for BitDAO since it was launched.

What is the 24 hour trading volume of BitDAO?

Over the last 24 hours, the trading volume of BitDAO is $5.38M.

What other assets are similar to BitDAO?

Assets that have a similar market cap to BitDAO include Huobi BTC, Aptos, Maker, and many others. To see a full list, see our comparable market cap assets.

How many BitDAO are there?

The current circulating supply of BitDAO is 2.1 billion.

What is the typical holding time of BitDAO?

The median time that Coinbase customers hold BitDAO before selling it or sending it to another account or address is 15 days.

What is the relative popularity of BitDAO?

BitDAO ranks 212 among tradable assets on Coinbase. Popularity is currently based on relative market cap.