August 1, 2021

Peter Thiel takes BitDAO to the top – $ 230 million raised with flying colors

A project with immense potential – The Decentralized Autonomous Organization (DAO) are presented as a privileged way to manage tokenized assets and to facilitate transparent governance within decentralized entities. The hottest DeFi projects, including Uniswap, Aave, and Maker, are governed by DAOs, which oversee project development and manage their cash flow.

BitDAO Raises Millions For Emergence Of Tokenized Economy

The latest DAO is BitDAO, which has received the support of several leading investors, including Peter Thiel and Alan Howard. This support enabled the newly created entity to raise $ 230 million, during a roundtable led by Peter Thiel, with the participation of Panther Capital, Dragonfly Capital and you Spartan Group. This fundraising was carried out through a private sale of tokens.

BitDAO’s goal is to promote the adoption of a more inclusive financial system within a tokenized economy. To achieve this mission, the DAO of Peter Thiel provide grants and cash to DeFi projects in order to support their research and development efforts.

This value proposition seems fairly generic. However, BitDAO has secured the support of around twenty DeFi projects and investment funds. This lifting can be seen as the last sign of interest from the venture capital sector for DeFi projects, which have monopolized the majority of funding since the start of 2021. Nevertheless, the creation of a major player, whose sole aim would be to ‘helping DeFi projects take off can only be a good thing for the ecosystem.

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