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.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
HAL secures $3 million seed funding and integration with DeFi platform AaveHAL has received backing from investors to the tune of $3 million amid a recent integration with DeFi money market platform Aave.
Read more »
Money laundering via crypto rose 30% in 2021, with DeFi laundering up 20x: ChainalysisDespite the growth of DeFi, Bitcoin remained the preferred vehicle for most illicit financing in crypto, especially among online scams.
Read more »
BitDAO launches $200M zkDAO to advance Ethereum scaling via zkSyncBitDAO has allocated over $630 million in funds from its treasury to various Web3 initiatives over the past few months. (Reporting via Bio_Chameleon)
Read more »
Ethereum Consensus Layer will End the DeFi Race | HackerNoonIXFI is created to be user-centred and encourages even beginners to start their crypto journey.
Read more »
EverRise Expands DeFi Security Infrastructure to Fantom and Avalanche – Press release Bitcoin NewsPRESS RELEASE. EverRise, the blockchain bridging and security solution provider that brought the buyback to crypto, expanded to the Fantom and Avalanche
Read more »
MetaMask’s new inbuilt multichain institutional custody featureCactus Custody’s DeFi Connector will also provide additional security and compliance features such as auditing, private key storage and role-based approval.
Read more »