{"id":71723,"date":"2022-12-20T18:28:58","date_gmt":"2022-12-20T16:28:58","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=71723"},"modified":"2025-09-08T10:43:48","modified_gmt":"2025-09-08T07:43:48","slug":"bitdao-proposes-100-million-buyback-of-its-own-tokens","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitdao-proposes-100-million-buyback-of-its-own-tokens\/","title":{"rendered":"BitDAO proposes $100 million buyback of its own tokens"},"content":{"rendered":"<p>BitDAO community members will study a $100 million buyback of <a href=\"https:\/\/forklog.com\/en\/news\/what-is-a-dao-decentralised-autonomous-organisation\">DAO<\/a>-tokens BIT, starting January 2023.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">(1\/3) [DISCUSSION] <a href=\"https:\/\/twitter.com\/search?q=%24BIT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BIT<\/a> Purchase Program, Update Jan 2023<\/p>\n<p>This soft proposal is a parameter update to BIP-9: <a href=\"https:\/\/twitter.com\/search?q=%24BIT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$BIT<\/a> Purchase Program and BIP-12.<\/p>\n<p>\u2705 Set the Target Daily Purchase Amount (TDPA) at $2.0M USDT per day starting Jan 1, 2023 for 50 days (total $100M USDT)<\/p>\n<p>\u2014 BitDAO (@BitDAO_Official) <a href=\"https:\/\/twitter.com\/BitDAO_Official\/status\/1604850475337388033?ref_src=twsrc%5Etfw\">December 19, 2022<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The proposer was authored by user cateatpeanut. It aligns with the capital deployment strategy and is a continuation of previous buyback schemes.<\/p>\n<p>The BitDAO treasury currently holds assets of<a href=\"https:\/\/etherscan.io\/address\/0x78605Df79524164911C144801f41e9811B7DB73D\"> $1,66 \u043c\u043b\u0440\u0434<\/a>, with BIT accounting for about ~$912 million.<\/p>\n<p>If approved, the buyback would begin on January 1 and run for 50 days in equal installments of 2 million USDT.<\/p>\n<p>BitDAO launched its governance token in August 2022. The decentralised organisation <a href=\"https:\/\/forklog.com\/en\/news\/bitdao-raises-over-356-million-and-launches-the-bit-governance-token\"> attracted 112,000 ETH<\/a> (~$356 million at the time) in an auction.<\/p>\n<p>The project <a href=\"https:\/\/forklog.com\/en\/news\/bitdao-raises-230m-from-peter-thiel-and-alan-howard\"> began operations in June<\/a> 2021 and raised $230 million in a private funding round. Investors included Founders Fund, Pantera Capital, Dragonfly Capital and Peter Thiel.<\/p>\n<p>The organisation focused on funding decentralised finance projects through grants and token swaps. It also sponsors research initiatives in the sector.<\/p>\n<p>Earlier in November, BitDAO<a href=\"https:\/\/forklog.com\/en\/news\/bitdao-unveils-mantle-a-modular-l2-solution\"> announced<\/a> a &#8216;soft launch&#8217; of Mantle, a modular layer-2 solution. Public testing of the testnet, together with the incentive program, is planned for 2023.<\/p>\n<p>Follow ForkLog&#8217;s Bitcoin news on our <a href=\"\/\/telegram.me\/forklog\u201d\" target=\"\u201c_blank\u201d\" rel=\"\u201cnofollow\u201d noopener\">Telegram<\/a> \u2014 cryptocurrency news, prices and analysis.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>BitDAO community members will study a $100 million buyback proposal for {{AOPEN_1}}DAO{{ACLOSE_1}}-tokens BIT, starting January 2023.<\/p>\n","protected":false},"author":1,"featured_media":71724,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1785,80,596],"class_list":["post-71723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-buyout","tag-dao","tag-tokens"],"aioseo_notices":[],"amp_enabled":true,"views":"15","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=71723"}],"version-history":[{"count":1,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71723\/revisions"}],"predecessor-version":[{"id":71725,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/71723\/revisions\/71725"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/71724"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=71723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=71723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=71723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}