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- Bybit clarifies BIT as BitDAO’s governance token, not an alternate token.
- Mantle proposes MIP-27 to deal with FTX Group’s $BIT token migration controversy.
- Bybit expands into the Dutch market, opening a brand new workplace in Amsterdam.
Bybit has set the file straight on BIT tokens as discussions warmth up throughout the crypto neighborhood. In a latest X submit, Igneus Terrenus, Bybit’s Head of Communications, confused that the corporate has by no means issued one. He defined that BIT is BitDAO’s governance token, not Bybit’s.
Moreover, the BIT tokens held by Alameda Analysis are at the moment unable emigrate to MNT, and a authorized course of is figuring out their standing.
This case has sparked debate amongst Mantle neighborhood 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 migration phrases.
The proposal, constructing on MIP-22, states that each one doubtlessly controversial selections should bear neighborhood dialogue and session. Because of the delicate nature of the matter, Mantle Governance has drafted a proposal for a neighborhood vote.
A “Sure” vote would pause the prevailing on-chain migration sensible contract and authorize a brand new one. This new mechanism would enable for restrictions on the automated migration of FTX Group’s $BIT tokens till associated points are resolved. The proposal additionally permits for discretionary approval of migration requests.
In the meantime, Bybit has proven 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 alternate by buying and selling quantity globally, Bybit’s growth into the Dutch market demonstrates its dedication to compliance, innovation, and development.
The brand new Amsterdam workplace additionally highlights Bybit’s dedication to the native crypto neighborhood, providing tailor-made alternatives and advantages to Dutch customers. Since March 2024, Bybit.nl, a localized platform in partnership with SATOS, has been working, offering Dutch language assist and companies particularly for the Netherlands’ rising crypto market.
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