BitDAO is a newly launched DAO-oriented fund dedicated to driving the mass adoption of encryption and blockchain technology. Funds in the Treasury are democratically managed by DAO members and allocated to various projects across the DeFi ecosystem, rather than specifically to a blockchain or platform.

Designed to open up the financial and decentralized tokenized economy, and able to support a wide range of projects, including DeFi, DAO, NFT, and games. Support will come in the form of research and development, liquidity guidance and funding.

In the past few years, DeFi industry developing fast, it also proves that the decentralized governance and management of power, such as Uniswap and Maker of dealing with the multi-billion dollar assets agreement, almost entirely by community members, democratic governance, community members to promote a common mission, namely to better the of our financial system. As projects in DeFi grow, there is a need for a decentralized mechanism to more broadly support early work and foster collaboration between different cryptography ecosystems in order to drive the adoption of cryptography at scale. The DAO demonstrated how quickly people on the Internet could align and organize themselves to become autonomous for a common purpose. This could be for a specific cause, setting up a project, or simply wanting to create a community of shared interest, hosting events, etc.

BitDAO is a new vault managed by DAO that, unlike protocol-specific DAOs such as MakerDAO, organizes and energizes the community in broader efforts in encryption and DeFi, and will also provide grants to teams working on cryptographic-related research or products, These studies or products can benefit a wide audience. The project aims to create such critical products to help BitDAO and other DAOs run more efficiently. These include: 1. Become the largest decentralized autonomous entity network through fractal expansion; (1) Create and collaborate with professional autonomous entities in ecosystem funding, arts, agriculture, RESEARCH and development, venture capital, events, grants, education, AND DAO operating services. (2) Encourage autonomous entities to create their own autonomous entities and cooperate with them, so as to realize fractal expansion. (3) Collaborate with existing projects through token exchanges and other means. (4) Find ways to avoid micro-decisions being hindered by the top-level BitDAO governance process. Limit BitDAO governance to authorization and funding approval. Allow partner autonomy. 2. Promote partners to become category leaders through R&D, liquidity, capital and operational support; 3. Attract builders and adjust incentives. Make the creation and operation of autonomous entities as easy as possible; 4. Focus on fast execution of ideas and encourage extensive experimentation with AD hoc solutions based on policy, trust and risk management mechanisms. Iterations involve long-term solutions to governance and financial management techniques; 5. Look for ways to relate BIT value to the overall ecosystem. View the proposal as coordinated, but also as a negotiation of economic terms.

BIT is the governance token of BitDAO. When BitDAO is created, its governance token is published on MISO. BIT has a fixed supply of 200,000,000 tokens. The distribution is as follows: 1. 5% of private sales; 2. 5% bonus for start-up partners; 3. 30% BitDO Treasury; 4, Partner (Bybit) flexibility 15%; 5. Partners (Bybit) lock 45%. While ByBit received the largest initial allocation, it subsequently delegated some voting rights to partners such as Windranger Labs and Pentagon Labs.

BitDAO is owned and managed by the BIT token holder and only performs operations after the proposal and vote are successful: 1. Token exchange with existing and emerging projects; 2. Allocate funds to various strategies; 3. Provide liquidity support for partner projects; 4. Provide grants or milestones to development teams and R&D centers (for building BitDAO products or supporting partner products); 5. Grants to blockchain technology projects, education programs or other blockchain public goods; 6. Update BitDAO core protocol (including governance and fund management functions).

Airdrop reward: 1. IDO participants can receive airdrop reward according to the rules published in BitDAO's official blog. The access to the airdrop will be in the form of bit-ETH SLP, which adds liquidity to the BIT-ETH, and the SLP will be pledged for 90 days. The first 10% of users who participate will get 40% of the airdrop bonus, and the next 10% will get 35.6% of the airdrop bonus, which will be reduced by 10%. 2. During this period, bit-ETH Liquidity Mine pool will have double agricultural/mining rewards and is expected to produce 96 SUSHI and 186,667 BIT tokens per day.

BitDAO will develop its own product focused on making DAO management easier and more effective. Some of these include on-chain and off-chain governance solutions; 2. BitDAO enhances encryption and DeFi adoption through a fully collaborative and decentralized effort; 3. BitDAO controls one of the largest pools of DeFi assets through its vaults, which can be used to provide liquidity for partner agreements. And can lead to new platforms; 4. BitDAO supports blockchain technology through grants and DeFi projects through token exchanges; 5. The governance of BitDAO is fully decentralized, with democratic governance and a well-funded Treasury having the unique advantage of promoting key synergies between early projects and various products and agreements through initiatives such as token exchange and grant awards; BitDAO is backed by some of the most prominent investors and teams in the crypto/fintech space, including Pantera Capital, Founders Fund, Bybit, and Peter Thiel.

BitDAO benefits from partner programs and the success of the crypto industry as a whole. The success of BitDAO partners will increase the contribution and value to the BitDAO vault so that more resources can be deployed. This is also the flywheel of growth.

Security of BitDAO: As with any cryptographic project, there is the possibility of total loss of funds, bugs or vulnerabilities in smart contracts, malicious behavior, or errors by multi-signed administrators.

BitDAO has developed bold plans to incubate and grow projects through its finance and community. Despite its youth, DAO has secured funding for the foreseeable future, which allows them to make big bets on the entire ecosystem rather than a single one-time encryption project. With the partners and talent it can attract, BitDAO has ample resources to test the DAO model well and, in turn, provide lessons for the field about what really works when dealing with large projects with multiple distributed teams. BitDAO can realize this dream with its own capital strength, technical knowledge level and profound industry relationship. It is also expected that BitDAO can promote DeFi to a more open and collaborative future governed by talents. Only time will tell whether these bets will pay off and whether early investors and BIT holders will be well rewarded for their capital. But BitDAO has so much potential that it could be a real disrupter in crypto investing.