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Bybit leads BitDAO development with proposal for BitDAO L1 infrastructure setup

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DUBAI, United Arab Emirates, June 30, 6, Co-Founder and CEO of bybit – one of the fastest growing cryptocurrency exchanges in the world, Ben Zhou made a proposal to set up a Layer 1 (L1) infrastructure of BitDAO through a series of web3 verticals on the official BitDAO forum.

The proposal aims to develop a new L1 blockchain using BitDAO's native token $BIT and capture high-value opportunities across a range of web3 verticals. BitDAO is currently working with specialized autonomous organizations across various fields such as gaming with Game7, scaling Ethereum with zkDAO, blockchain education with EduDAO, art management and archiving with PleasrDAO, as well as Product Labs and Strategies for Budget Management.

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In line with BitDAO's vision to support the builders of the decentralized economy and shape the financial future for the benefit of all participants, Zhou urges the community and interested parties to actively participate. Join the discussion and research and development efforts in the Discourse forum or by email: Infra@bitdao.io. With a preference for equivalent EVM projects using $BIT, the proposal aims to have a potential research and development agency funded by BitDAO in the near future.

Since its inception, BitDAO has been one of the world's largest decentralized treasuries with billions of assets and aims to leverage the potential of DAOs by leveraging a tokenized governance system. As an original proponent of BitDAO, Bybit has committed to contribute 2,5 percentage points of futures trading volume to the BitDAO treasury. Recurring contributions to BitDAO will scale with both Bybit's business and the overall growth of the crypto industry.

“This proposal aims to open up new avenues for high-value collaboration generated from grassroots demand and support, which is true to BitDAO’s mission,” said Zhou. “Bybit supports BitDAO's vision of being the changer for all changers. Working with BitDAO and the community, we look forward to driving the mass adoption of open finance to greater heights and shaping the future of the industry.”

About Bybit

bybit is a cryptocurrency exchange founded in March 3, providing a professional platform where crypto traders can find an extremely fast execution engine, excellent customer service great and multilingual community support.

Bybit provides groundbreaking spot and derivatives trading services, mining and staking products, NFT marketplace and API support to retail traders and institutional customers around the world, and is committed to strives to become the most trusted platform in the emerging virtual asset segment.

Bybit is proud to be a partner of the Formula 1 (F1) racing team, Oracle Red Bull Racing, eSports teams NAVI, Astralis, Alliance, Virtus.pro and Oracle Red Bull Racing Esports, and the football teams of association Borussia Dortmund and Avispa Fukuoka.

For more details, please visit: https://www.bybit.com/

For updates, please follow Bybit's social media platforms on:

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