Home Finance BitDAO proposes to exchange BIT token in rebranding

BitDAO proposes to exchange BIT token in rebranding

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BitDAO proposes to exchange BIT token in rebranding

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 initiatives.

In response to the BIP-21 proposal, the BitDAO ecosystem – governance (BitDAO) and product (Mantle) – shall be unified below the Mantle title. Governance processes and treasury administration will stay unchanged, however after neighborhood approval, BIT holders will bear a token conversion course of for the brand new Mantle token.

BIP-21 proposal by BitDAO. Supply: Coat on Twitter

Proceed studying on Coin Telegraph

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