17 August 2021 10:35, UTC
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Yesterday, August 16, the BitDAO token began trading on the DEXT decentralized exchange at a price of $ 2. At 12:30 GMT on August 17, the cost of a digital coin is $ 1.8
The decentralized stand-alone project BitDAO raised $ 378.5 million during the ICO (initial token offering). The project was supported by the co-founder of PayPal Peter Thiel, Founders Fund, Pantera Capital, Dragonfly Capital and others. The sale of tokens took place in the format of a Dutch auction. The last price of BitDAO tokens was 0.00062594 ETH ($ 1.99 at the current exchange rate as of August 17).
The Dutch auction implies the announcement of the minimum and maximum price that participants are willing to pay. Then bids are submitted at prices in the specified range, as a result of which the final price is formed, at which the asset is redeemed.
At 22:35 Moscow time on August 16, the BitDAO token trading started on the DEXT decentralized exchange. The initial cost of the digital coin was $ 2. At 12:30 Moscow time on August 17, the token is trading at $ 1.8. In June, BitDAO held a token sale among primary partners, during which the project raised $ 230 million.
BitDAO will use the investments to buy tokens for promising projects, and will send part of the profits to grants to startups developing blockchain technologies. Profit sharing will take place through a smart contract, the protocol change of which is possible only by reaching a general consensus.
DAOs (Decentralized Autonomous Organizations) are a new form of joint activity that repeats the system of a joint stock company, but does not require registration or reporting to regulators. The organization’s charter is the code written in a smart contract.
So far, the largest ICO has been the initial public offering of EOS tokens. In 2017, the project raised $ 170 million in five days.The sale of tokens lasted for almost a year. During this time, EOS tokens worth $ 4 billion were sold.
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