BitDAO aims to support builders of the decentralized economy. It is an open platform for proposals that are voted upon by BIT token holders, and is agnostic to chains and projects.
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 to approve or reject proposals.
- 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 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.