The BitDAO community’s proposal on the BIT buyback plan has opened for voting, which is intended as part of its DAO deployment strategy plan. The proposal proposes to set a daily target purchase amount (TDPA) of 2 million USDT for 50 days starting from January 1, 2023 (a total of 100 million USDT).

After purchasing BIT, the BitDAO treasury will still hold USD 300 million in USDT/USDC and 270,000 ETH (approximately USD 345 million). The proposal states that this should be enough to cover more than 5 years of BIT product development.

The proposal currently has 100% support, and voting will end on December 31.