For the last year all Bybit contribution tokens and buyback tokens have been transferred to the BitDAO Treasury, by the 20th of the following month, from the following staging wallet:

https://etherscan.io/address/0x6a159503e49ddb8e49659d6cacf5236ac4213d86

BIP-14 effective start date is September 16th. This means September 1–15th will have ETH, USD, and BIT buybacks. September 16th-30th will be BIT for burning. Transfers will be completed via the staging wallet by October 20th (i.e. this has not been scheduled to happen yet).

As the $BIT token does not have native burn functionality, we cannot send to the “zero address”. Alternatively, and as recognized by Etherscan and the Mastering Ethereum Github, we will use the most commonly used alternative burn address 0x000000000000000000000000000000000000dEaD.

Amount to be burned (on the following month’s 15th) are tracked by https://www.bitdao.io/analytics.

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According to BIP-12, $10,500,000 worth of $BIT has been purchased from July 18, 2022 to July 24, 2022.

  • 19,707,942.47 $BIT was purchased from July 18 to 24; average purchase price was $0.5327801223
  • Source of the fund is from BitDAO treasury
  • Purchase is executed through TWAP trades (around $1,041.7 worth of…

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According to BIP-12, $10,500,000 worth of $BIT has been purchased from July 11, 2022 to July 17, 2022.

  • 22,974,645.77 $BIT was purchased from July 11 to 17; average purchase price was $​​0.4564310978
  • Source of the fund is from BitDAO treasury
  • Purchase is executed through TWAP trades (around $1,041.7 worth of BIT purchase every minute) by a bot on Bybit
  • The purchased $BIT in July will be transferred back to BitDAO treasury by August 15, 2022

Updates of the purchase program will be posted on the BitDAO Medium on a weekly basis.

BitDAO Twitter: https://twitter.com/BitDAO_Official
Official Telegram: https://t.me/BitDAO_Official
BitDAO Discord: https://discord.com/invite/bitdao

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According to BIP-12, $9,000,000 worth of $BIT has been purchased from July 5, 2022 to July 10, 2022.

  • 20,081,539.93 $BIT was purchased from July 5 to 10; average purchase price was $0.4481728011
  • Source of the fund is from BitDAO treasury
  • Purchase is executed through TWAP trades (around $1,041.7 worth of BIT purchase every minute) by a bot on Bybit
  • The purchased $BIT in July will be transferred back to BitDAO treasury by August 15, 2022

Updates of the purchase program will be posted on the BitDAO Medium on a weekly basis.

BitDAO Twitter: https://twitter.com/BitDAO_Official
Official Telegram: https://t.me/BitDAO_Official
BitDAO Discord: https://discord.com/invite/bitdao

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BitDAO

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