BitDAO (BIT) Token Overview and Core Mechanisms
BitDAO (BIT) is a governance token for a decentralized autonomous organization (DAO) designed to support the development of the Web3 ecosystem through its treasury, including token swaps, joint development, and funding for decentralized finance (DeFi) projects.The BIT token was officially launched on July 15, 2021, and a clear token economic model was established from the outset.
Total Supply and Circulating Supply of BIT Tokens
According to BitDAO’s token economics design, the maximum supply of BIT tokens is set at 10,000,000,000 (i.e., 10 billion), and there is no built-in inflation mechanism, meaning its total supply is fixed.
During the initial token issuance phase, BitDAO raised $230 million through a private placement, securing support from early investors such as Dragonfly, Pantera Capital, and Peter Thiel. The vesting period for these early investors’ tokens was completed on September 15, 2022.In addition, the vesting period for the locked tokens held by Bybit, a major supporter, was completed on May 20, 2023.
Prior to the migration to Mantle, some historical data indicated that BIT’s circulating supply was approximately 1.84 billion tokens, accounting for 18.44% of the total supply. However, this data no longer reflects the current status of the BIT token.
Migration of BIT Tokens to Mantle (MNT)
A crucial development is that BitDAO migrated its native token, BIT, to the new Mantle (MNT) token at a 1:1 ratio in 2023. This means that former BIT token holders have converted their tokens to MNT.Consequently, as of this writing (July 2026), many major cryptocurrency data platforms and exchanges now show BIT’s circulating supply and market capitalization as near zero, as MNT has become the primary governance and utility token within the BitDAO ecosystem.
The Mantle token has inherited BitDAO’s governance functions, allowing MNT holders to submit and vote on proposals regarding the allocation of the BitDAO treasury, governance management, and future product development.The BitDAO treasury currently holds a large number of MNT tokens, which will be used for ecosystem development, grants, and milestone rewards; all such uses must be approved through DAO proposals and voting.
How to Obtain and Trade MNT Tokens
Since the BIT token has been migrated to MNT, users who wish to participate in the BitDAO ecosystem or acquire its tokens should focus on the MNT token. MNT tokens can be traded on centralized cryptocurrency exchanges that support the token. Users typically need to register an account, complete identity verification, and deposit funds before they can purchase MNT on the platform.
