BDAO Launch & First Proposal
BiFi announces the first governance proposal of BDAO (BiFi DAO-Decentralized Autonomous Organization).
BDAO allows users to participate by voting or submitting votes on the proposal, through the ownership of $GBiFi tokens. Governance participation is vital for projects in DeFi ecosystem for its community to cooperate on a project and pursue the ideals of decentralization and democratization.
The beginning of BDAO will empower their community members and make BiFi autonomous and transparent.
To vote on proposals, users need to swap BiFi tokens to GBiFi tokens before the voting starts. GBiFi tokens function as governance tokens in BDAO. The number of GBiFi tokens will determine the voting power of all members in BDAO.
After swapping BiFi tokens to GBiFi tokens, users can start voting on proposals on the Tally platform, the governance aggregating platform used by many other DeFi protocols such as Compound and Uniswap. On Tally, anyone can see the results of previous proposals as well as proposals that will start soon.
The first governance proposal of BDAO is “40% reduction of BiFi rewards for deposits & borrows”.
Swap BiFi tokens to GBiFi tokens before the voting begins.
About BiFi
BiFi is the Multichain DeFi Project built on BIFROST, the Universal Multichain Middleware. BiFi aims to create a decentralized financial infrastructure that connects all the capital markets currently isolated on each blockchain, and creates new products and services that interoperate across multiple blockchains.
