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HomeInvestmentBitDAO proposes to replace BIT token in branding revamp By Cointelegraph

BitDAO proposes to replace BIT token in branding revamp By Cointelegraph



A proposal seeking to apply a “One Brand, One token” principle has been pushed to a vote on BitDAO’s Snapshot and calls for substituting BitDAO’s token (BIT) under a new governance token. Snapshot serves as an off-chain governance voting platform for decentralized autonomous organizations (DAOs) and other blockchain projects.

According to proposal BIP-21, the BitDAO ecosystem — governance (BitDAO) and product (Mantle) — will be unified as Mantle. Governance processes and treasury management will remain unchanged, but after community approval, BIT holders will undergo a token-conversion process for the new Mantle token.

BIP-21 proposal by BitDAO. Source: Mantle on Twitter