BitDAO is a decentralized autonomous organization focused on defi and Decentralized pegged token to scale the cryptocurrency adoption.
Bitdao (BDAO) proposed a decentralized bitcoin pegged token that will monitor Bitcoin price closely.
BitDAO was launched in 2021 and is headquartered in Bangalore, Karnataka, India.
Bitdao’s multichain design intends to unseat existing centralized pegged tokens that pose censorship and counterparty risks through a fast and affordable decentralized solution.
BDAO token acts a governance and Defi token with APY of 15-50%. Any multichain (BSC, Polkadot and Solana) token can act as collateral which acts ensures stable within the pegged token.
BitDAO has raised $230M through a private token sale on Jun 16, 2021. The fundraising round was led by Peter Thiel, Founders Fund, Pantera Capital and Dragonfly Capital, with participations from Alan Howard, Jump Capital, Spartan Group and others.