![BitDAO proposes to switch BIT token in rebranding BitDAO proposes to switch BIT token in rebranding](https://forexcryptozone.com/wp-content/uploads/2023/03/1680178444_Cryptocurrencies_800x533_L_1556527975-768x512.jpg)
A proposal to use a “One model, one token” precept has been pushed to a vote on BitDAO’s snapshot and requires changing BitDAO’s token (BIT) with a brand new governance token. Snapshot serves as an off-chain governance voting platform for Decentralized Autonomous Organizations (DAOs) and different blockchain tasks.
In line with the BIP-21 proposal, the BitDAO ecosystem – governance (BitDAO) and product (Mantle) – will probably be unified below the Mantle title. Governance processes and treasury administration will stay unchanged, however after group approval, BIT holders will bear a token conversion course of for the brand new Mantle token.
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