To determine the DAO to be used, we will be checking the current balances of the different treasuries on the Ethereum chain and the treasury with the highest balance will be used for further analysis. It was fout that BitDAO has the highest balance off Mor4e than 3.8bil USD.

The top five(5) tokens by their current balance in the BitDAO account is going to be used for our analysis. Owing to this, BIT, ETH, USDC, USDT and APEX. The list is in accordance to their balance size, indicating that BIT (BitDAO governance token) is the highest in terms of balance.

An interesting find is that USDT token balance dropped at January while Apex token was bought at the same time.

The BIT token had large deposits on the 13th of September and 23rd of May.

This was because of a proposal showing a pathway to decentralization for the BitDAO and it was proposed that some Bit tokens be locked in the treasury.

You can check full proposal here and twitter thread here.

This deposit is seen to have happened after BitDAO passes BIP-21 token optimization and branding proposal. This is intended to unify branding between the Mantle network and BitDAO.

You can see full proposal here.