Introduction

It's worth noting that DAOs are highly customizable and adaptable. The content below will be modified based on the current status of approved proposals and inflight initiatives.

Summary

BitDAO aims to support builders of the decentralized economy. It is an open platform for proposals that are voted upon by BIT token holders.

Governance

BitDAO is governed by $BIT token holders. It is permissionless to submit soft proposals on the BitDAO forum, and official proposals on the BitDAO Governance Module (Snapshot). It is permissionless to hold $BIT, delegate $BIT, and vote on proposals.

All decisions, from launching new initiatives to transferring and recalling treasury resources, assigning and modifying powers to operating teams, and implementing corrective actions, are subject to proposals and voting by $BIT token holders.

Resource Management

The BitDAO treasury grows through:

1. Net inflows from BIT powered products such as Mantle (an Ethereum Rollup with inflows from various layers of the modular blockchain stack).

2. The increasing value of assets held in the treasury or off-chain.

3. Contributions from Bybit (currently a fixed-schedule of $BIT).

The BitDAO treasury allocates resources to:

1. Fund the development and adoption of BIT powered products (see BIP-19 Mantle Budget).
2. Specialized initiatives (such as Game7 in collaboration with Forte, and EduDAO in collaboration with student groups).
3. Liquidity support and BIT Purchase programs.
4. Token swaps with other organizations.

Treasury movements are can be tracked via the Treasury Monitor.

Principles

BitDAO is not a company. It does not have a management team or employees. BitDAO is a collection of builders and stakeholders who hold $BIT tokens and are motivated to make the project a success.

Anyone can propose partnerships and protocol upgrades for BitDAO. $BIT token holders may vote on whether to approve or reject these proposals.

Holding $BIT entitles holders to submit and vote on proposals. It does not entitle holders to impose their will upon other contributors. For example, a proposal that says "BitDAO should build X product" is unlikely to be executed as BitDAO has no employees and cannot compel third party development teams to act. Such a proposal should be written as "we believe X product is required, we will build it, here is the BitDAO funding request and detailed proposal".

Partnerships or $BIT use-cases that are sponsored by others do not require a governance proposal (for example hackathons or education events). BitDAO welcomes all free publicity and $BIT use-cases.