.BitDAO_Official ‘s governance token jumped 5% over the weekend on news that 0xMantle had submitted a proposal for a $200 million DeFi fund to the BitDAO community. Reporting by LizKNapolitano.
BitDAO, one of the world’s largest decentralized autonomous organizations , saw its token jump from about 55 cents on Saturday to abut 60 cents on Sunday, a gain of roughly 5%, according to TradingView data. The rise pushed BIT ahead of bitcoin and ether as one of the weekend’s best performers.
In the past 24 hours, the token has continued its uptrend, trading at $0.6120 at the time of publication — its highest price in a week. BitDAO’s fund aims to pour money into more than 100 early-stage investment projects building on the Mantle Network over the next three years. The fund is part of a larger strategy to incentivize developers to build on the modulated layer 2 network and drive its wider adoption.
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