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About BitDAO
BIT is the governance token for BitDAO, one of the world's largest decentralized autonomous organizations (DAOs). Managed by BIT token holders, BitDAO oversees a massive token-governed treasury and aims to support the development of open finance and decentralized technologies across the Web3 ecosystem. Originally instigated by the exchange Bybit, which pledged recurring contributions based on its futures trading volume, the token allows holders to propose and vote on treasury allocations and protocol changes. On July 17, 2023, the BIT token underwent a conversion process to the Mantle (MNT) token following the merger of BitDAO and Mantle Network.
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