Global Bitcoin exchange BTC Markets will add support for ‘The DAO’ tokens on the 28th May 2016. The platform will allow users to trade Bitcoin and Ethereum for ‘The DAO’ tokens.
The addition of ‘The DAO’ to the platform follows the recent addition of Ethereum.
Managing Director, Jarrod Crane said the decision to support ‘The DAO’ was due to unprecedented demand. “More than $148 million USD has already been invested into ‘The DAO’ to make it the largest crowdfunded project to date.” Mr. Crane said.
What is ‘The DAO’?
Built on Ethereum, ‘The DAO’ is a for-profit Distributed Autonomous Organization that wants to leverage the wisdom of the crowds to benefit it’s owners (token holders). Unlike traditional companies that have a delegated management structure, ‘The DAO’ operates through collective voting, and it’s controlled by anyone who has purchased a token. In addition to it’s token holders, there is a group of Curators that can be voted in or out. The aim of ‘The DAO’ is to use the equity it controls to support projects that will provide a return on investment or benefit to the DAO and its members, and benefit the decentralized ecosystem as a whole.
About BTC Markets
BTC Markets is Australia’s largest digital asset exchange in volume and liquidity. Founded in 2013, BTC Markets provides a global trading platform for professional investors, traders, and businesses to exchange Bitcoin, Ethereum, Litecoin and DAO tokens.
Header image courtesy of Finance Magnates