BitDAO, one of the biggest decentralized autonomous organizations, has been spotlighted after greenlighting a $100 million buyback for its token.
In reaction, the BIT token – which has recently outperformed the crypto market – rallied as much as 17% to hit multi-month highs.
In other developments, BitDAO has announced the launch of Mantle – a modular Ethereum Layer-2 (L2) network.
One of BitDAO’s most prominent supporters, ByBit, also announced a $66 million donation to the project in November.
Project Review
BitDAO is a decentralized autonomous organization (DAO) that supports DeFi projects through research and development, token swaps, and grants. It aims to build a decentralized tokenized economy that is available to everybody.
BitDAO hopes to support several projects in decentralized finance (DeFi), DAOs, non-fungible tokens (NFTs), and gaming through research and development, liquidity bootstrapping, and funding.
One of BitDAO’s primary aims is to attract
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