Bybit has made another contribution worth $134 million to its DAO to support the growth of the decentralized economy.
Singapore-based crypto exchange, Bybit, has recently contributed a whopping $134 million worth of ETH, USDT, and USDC to BitDAO’s treasury.The exchange describes BitDAO as one of the largest decentralized autonomous organizations in the industry. It aims to support dApp builders and lower the entry barriers into the decentralized economy.
BitDAO allocates substantial financial and talent resources to drive decentralized finance growth. It is supported by several top VCs and crypto companies, including Pantera, Peter Thiel, and Bybit.to the DAO is equivalent to 2.5bps of the platform’s futures trading volume between Nov. 1 and Dec. 31.reached out to Bybit for comments on the DAO contribution. The exchange’s head of communication, Igneus Terrenus said,“Bybit pledged 2.
This is not the first time Bybit is contributing a substantial amount to its DAO. Earlier in July 2021, just a month after BitDAO was launched, the exchangeByBit Adds Support for Arbitrum Network In another development, Bybit revealed today that it had integrated the Ethereum layer-2 scaling solution, Arbitrum, mainnet into its platform., the exchange noted that Bybit users can now deposit and withdraw Ether , Tether , and USD Coin on the Arbitrum network.
With the integration, Bybit users will enjoy low gas fees, sub-second transactions, and rapid throughput on the Arbitrum network.an in-house NFT marketplace that will allow users to buy, sell, and explore digital collectibles and crypto arts.
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