- Bybit makes it clear that BIT just isn’t an trade token, however quite the governance token of BitDAO.
- Mantle proposed MIP-27 to handle FTX Group’s $BIT token transition controversy.
- Bybit has expanded into the Dutch market, opening a brand new workplace in Amsterdam.
Amid a heated debate throughout the cryptocurrency neighborhood, Bybit has revealed the reality about its BIT token. In a current X submit, Bybit's Head of Communications, Igneus Terrenus, emphasised that the corporate has by no means issued the BIT token. He defined that BIT is the governance token of BitDAO and doesn’t belong to Bybit.
Moreover, BIT tokens held by Alameda Analysis are at present not transferable to MNT, with their standing being decided by authorized proceedings.
This example has sparked debate amongst members of the Mantle neighborhood relating to the migration of $BIT tokens held by FTX Group. In response, Mantle Governance has proposed a brand new coverage, MIP-27, to make clear the migration circumstances.
This proposal, primarily based on MIP-22, stipulates that every one probably controversial choices should undergo neighborhood dialogue and session. Because of the sensitivity of the difficulty, Mantle Governance has drafted a proposal for a neighborhood vote.
A vote of “Sure” would droop the present on-chain migration sensible contract and approve a brand new one. This new mechanism would permit us to limit automated migration of FTX Group's $BIT tokens till the associated points are resolved. The proposal would additionally permit for discretionary approval of migration requests.
In the meantime, Bybit is demonstrating its dedication to the European cryptocurrency market by opening a brand new workplace in Amsterdam on August 22, 2024. Because the world's second-largest cryptocurrency trade by buying and selling quantity, Bybit's growth into the Dutch market demonstrates its dedication to compliance, innovation and progress.
The brand new Amsterdam workplace additionally underlines Bybit's dedication to the native crypto neighborhood, providing tailor-made alternatives and advantages for Dutch customers. Since March 2024, a localized platform, Bybit.nl, in partnership with SATOS, has been working, offering Dutch language assist and providers particularly for the rising crypto market within the Netherlands.
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