- Bybit clarifies BIT as a BitDAO governance token, not an trade token.
- Mantle proposes MIP-27 to resolve FTX Group's $BIT token migration dispute.
- Bybit expands to the Dutch market and opens a brand new workplace in Amsterdam.
Bybit units report for BIT tokens as debate heats up in crypto group. In a latest submit, X Igneus Terrenus, Bybit's head of communications, identified that the corporate has by no means issued one. He defined that BIT is the governance token of BitDAO, not Bybit.
Moreover, the BIT tokens held by Alameda Analysis can’t presently migrate to MNT and their standing is set by a authorized course of.
This example sparked a debate amongst Mantle group members relating to the migration of $BIT tokens held by the FTX group. In response, Mantle Governance proposed a brand new coverage, MIP-27, to make clear the phrases of migration.
The proposal based mostly on MIP-22 states that every one doubtlessly controversial selections should undergo group dialogue and session. As a result of delicate nature of this matter, Mantle Governance has developed a proposal for a group vote.
A “Sure” vote would droop the prevailing on-chain migration good contract and allow a brand new one. This new mechanism would enable FTX Group to restrict the automated migration of $BIT tokens till the associated points are resolved. The proposal additionally permits for discretionary approval of migration requests.
In the meantime, Bybit demonstrated its dedication to the European crypto market by opening a brand new workplace in Amsterdam on August 22, 2024. Because the second largest crypto asset trade by buying and selling quantity worldwide, Bybit's enlargement into the Dutch market demonstrates its dedication to compliance, innovation and development.
The brand new Amsterdam department additionally highlights Bybit's dedication to the native crypto group, providing tailor-made alternatives and advantages to Dutch customers. Since March 2024, Bybit.nl has been working, a localized platform in cooperation with SATOS that gives help and providers in Dutch particularly for the rising Dutch crypto market.
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