0/ Funding Web3 Bit By Bit.
@BitDAO_Official invests across Web3 and has a treasury of more than $1.5B in liquid assets, including $ETH, $USDC, $USDT, $FTT, and $xSUSHI.
We broke down their relationship with @Bybit_Official and how they plan to support the growth of Web3.
@BitDAO_Official invests across Web3 and has a treasury of more than $1.5B in liquid assets, including $ETH, $USDC, $USDT, $FTT, and $xSUSHI.
We broke down their relationship with @Bybit_Official and how they plan to support the growth of Web3.
1/ BitDAO’s core strategy involves funding Web3 through a process they call “fractal expansion”.
This is where BitDAO uses treasury assets to fund and spin-off Autonomous Entities (AEs) that operate within different sectors and partner with other entities through token swaps.
This is where BitDAO uses treasury assets to fund and spin-off Autonomous Entities (AEs) that operate within different sectors and partner with other entities through token swaps.
2/ For example, BitDAO allocated $200M to fund zkDAO, an AE dedicated to growing the zkSync ecosystem.
BitDAO also encourages AEs to spin off their own sub-AEs. Ideally, when the AEs mature, they will begin to send funds back to the BitDAO treasury.
BitDAO also encourages AEs to spin off their own sub-AEs. Ideally, when the AEs mature, they will begin to send funds back to the BitDAO treasury.
3/ BitDAO has a large treasury, consisting primarily of $ETH.
In order to maintain cash flow into the treasury while investments have time to play out, ByBit has pledged to contribute 2.5 bps of futures trading volume to BitDAO, which is roughly 35% of their futures revenue.
In order to maintain cash flow into the treasury while investments have time to play out, ByBit has pledged to contribute 2.5 bps of futures trading volume to BitDAO, which is roughly 35% of their futures revenue.
4/ Since the pledge began on July 15th, 2021, ByBit has contributed around $760M to the BitDAO treasury, averaging $2.4M per day.
In return for this cash flow, BitDAO allocated 60% of the $BIT token supply to ByBit.
In return for this cash flow, BitDAO allocated 60% of the $BIT token supply to ByBit.
5/ What potential pitfalls lie ahead, and what do current cash flows mean for the valuation of $BIT?
Read our full report to find out:
members.delphidigital.io/reports/fundin…
Read our full report to find out:
members.delphidigital.io/reports/fundin…
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