BitDAO Makes $100M Buyback Offer to Buy Own Tokens

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Members of the BitDAO community intend to consider a buyback offer for $100 million worth of BIT DAO tokens from January 2023.

The initiative was reportedly initiated by the user cateatpeanut and it is in line with the capital deployment strategy and is a continuation of previous buyback schemes.

The BitDAO Treasury currently has $1.66 billion in assets. BIT tokens account for $912 million of this amount.

If the proposal gets support, the buyout will be made from January 1 within 50 days in equal proportions of 2 million USDT.

BitDAO launched a governance token in August and then the decentralized organization raised 112,000 ETH during the auction.