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.
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.
The BitDAO treasury allocates resources to:
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.