Introduction
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. It is agnostic to chains and projects.
Possible proposals include 1) direct partnerships or swaps with projects, and 2) expansion via specialized autonomous entities such as: ecosystem funds, artist guilds, farming cooperatives, R&D Labs, etc.
Vision
An unstoppable economy enabled by decentralized assets, decentralized technologies, and decentralized organizations.
Mission
To support builders of the decentralized economy, and showcase the potential of DAOs.
To support a wide range of ideas, and experiment with the full range of options for economic alignment, governance, treasury management, and organization.
Strategy
- Become the largest decentralized autonomous network of entities with fractal expansion.
- Create and partner with specialized autonomous entities for ecosystem funds, art, farming, R&D, venture, events, grants, education, DAO operations services, etc.
- Encourage autonomous entities to create and partner with autonomous entities of their own, enabling fractal expansion.
- Partner with existing projects through token swaps and other methods.
- Find ways to avoid micro-decisions from being bottlenecked by the top-level BitDAO governance process. Limit BitDAO governance to mandate and funding approval. Allow partners to be autonomous.
- Boost partners to become category leaders via R&D, liquidity, funding, and operational support.
- Attract builders and align incentives. Make the creation and operation of autonomous entities as convenient as possible.
- Focus on fast execution of ideas. Encourage high experimentation with interim solutions based on policy, trust, and risk management mechanics. Iterate towards the long term solution involving governance and treasury management technologies.
- Find ways for BIT value to be correlated to the whole ecosystem. Treat proposals as synergistic but also a negotiation of economic terms.
Why DAO? Why be a BIT token holder?
DAO (decentralized autonomous organization) is a structure used by many crypto projects. Typically DAOs require key actions (such use of treasury assets, or changes to the project code) to be proposed and approved by token holders.
BitDAO is a DAO governed by BIT token holders. Through the proposal and voting process BIT token holders will determine the actions and direction of BitDAO. BIT token value is correlated to the success of the ecosystem via various economic links (predominantly tokenization).
Anyone can propose partnerships and product upgrades for BitDAO. BIT token holders will vote on whether to approve or reject these proposals. Ideas need to provide sufficient analysis and be executable. See guidelines:
Flywheel for growth
With billions in assets and recurring contributions, BitDAO will partner with top projects and specially created autonomous entities.
BitDAO benefits from the success of partner projects and the crypto industry as a whole. Success of BitDAO partners will increase the contributions to, and value of, the BitDAO treasury, allowing more resources to be deployed. This is the flywheel for growth.
Flywheel for Growth. Note: extent to which there will be execution of grants, token swaps, or protocol changes will depend on whether proposals are raised and garner sufficient votes from BIT token holders.
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 will 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 which 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.
Last modified 2mo ago