Over 320K USDT in DigitDAO treasury, the first refund proposal will be the best innovation practice for Web3 DAOs

According to the cross-chain DID protocol dotbit(.bit), the first proposal of DigitDAO has been approved by DAO members.

This proposal aims to achieve the refund for all registration fees of DigitDAO members' main accounts and invited accounts. DigitDAO has a DAO treasury with stable income, which contains the revenue of all pure digit .bit accounts' registration fees. Currently, the DigitDAO treasury balance is over USD 320,000. According to the supplementary proposal, the refunding process will be implemented every Monday from October 10, 2022.

The adopted proposal could result in a market heat for pure digital .bit accounts since users now can register for pure digit .bit accounts for free.

DigitDAO is under the general concept of NameDAO, promoted by the DID protocol .bit.

To encourage people with different cultural backgrounds to use decentralized identity and improve cultural diversity in Web3, .bit initiates the concept of NameDAO. By handing over a portion of the .bit protocol revenue to the DAOs, .bit team aims to motivate more people around the world to spread their culture and better access Web3 through NameDAO.

On August 15, .bit, the cross-chain DID protocol, announced a USD 13 million Series A round of funding led by CMB International with participation from HashKey Capital, SevenX, QingSong Fund, GSR Ventures, GGV Capital and SNZ.

For more information, find NameDAO online:

Website:

Twitter: @NameDAOHQ

DigitDAO Discord:

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( With inputs from ANI )

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