BitDAO will start Dutch auction on Sushi MISO for BIT token by August 16th after raised $230 million

BitDAO controlled by Bybit will collaborate with Sushi MISO for the BIT token launch. BIT token holders can vote to allocate the world’s largest DAO-directed treasury, partner with leading protocols, and build a decentralized and tokenized future.

The SushiSwap DAO is the first DeFi DAO to work with BitDAO and have provided technical support for BitDAO governance and treasury management design and roadmap.

According to the announcement, the limited amount of 200M BIT tokens available and not available for U.S. and other restricted jurisdictions.

Auction Parameters

MISO Dutch Auction

  • Auction start: August 16th 13:00 UTC
  • 180M BIT tokens available using ETH (link to auction)
    — Starting Price: 0.0006325 ETH (~$2.00)
    — Reserve Price: 0.0003795 ETH (~$1.20)
  • 20M BIT tokens available using SUSHI (link to auction)
    — Starting Price: 0.2000 SUSHI (~$2.00)
    — Reserve Price: 0.1200 SUSHI (~$1.20)
  • Auction end: August 30th 13:00 UTC (participants can claim only after)
  • BIT token: 0x1A4b46696b2bB4794Eb3D4c26f1c55F9170fa4C5

BitDAO raised $230 million to invest in crypto projects through a private token sale. The fundraising round was led by Peter Thiel, Founders Fund, Pantera Capital and Dragonfly Capital, the company said in a statement. Other participants included Alan Howard, Jump Capital and Spartan Group.

Bybit, the Asian cryptocurrency exchange, pledged a share of futures contracts trading volume that could amount to more than $1 billion a year at the January-May 2021 run rate.

MISO is a standardized, one-click launchpad to launch new project on the SushiSwap exchange. MISO aims to drive diverse projects to the exchange with the most user-friendly and capital efficient manner for both technical and non-technical project founders.

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