BitDAO Announces DAO Incubator for Student Initiatives

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BitDAO, one of the world’s largest decentralized organizations, backed by Peter Thiel, Pantera, Dragonfly, Bybit and others, has announced a new DAO incubator. Business Insider writes about it.

It is reported that the project, called EduDAO, will raise $ 11 million annually to sponsor student projects. EduDAO partners will be Harvard and Oxford University, Tsinghua University in China, and UC Berkeley. However, it remains unknown which educational organizations will have access to EduDAO grants.

At the start, EduDAO will receive $ 33 million. VThe venture capital will go to early stage projects to support the next generation of blockchain networks and Web3-based technologies. EduDAO is expected to expand further to hundreds of educational institutions, including the Massachusetts Institute of Technology and the University of Pennsylvania.

DAOs are decentralized communities, usually governed by token voting. DAOs are often used to manage smart contracts like Uniswap, SushiSwap, and others. SushiSwap is a notable example.

For example, it became known earlier that key developer of SushiSwap threatened to leave the project if the community did not approve of the plan to make changes to the governance structure. In particular, the CTO of SushiSwap complained that he was not getting enough in his position.

At the end of 2021, Joseph Delong earned $ 300,000 (~ ₽21.8 million). However, this is less than in Dapper Labs, where he worked prior to joining SushiSwap. How much Delong received before is not specified. The community did not consider such threats and itself initiated a vote to dismiss Joseph Delong.

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