BinaryDao is a new DeFi primitive that helps users gain exposure in DeFi yield and deals through its native BYTE token, and create exponential value and unmatched upside for BYTE token holders. It achieves this by putting its treasury to work and generate return through liquidity providing, partnering and investing in early-stage projects. There are two main strategies for market participants: staking and minting. Stakers stake their BYTE tokens in return for CODE tokens, while minters provide LP tokens or USDC tokens in exchange for discounted BYTE tokens after a fixed vesting period.
CODE is the yield earning staked version of BYTE. It is always redeemable for BYTE at 1:1
Really do not like this project and the very sketchy moves the team has made recently. I’m going to stay calm and courteous here but this project and the devs actions are an embarrassment to the Metis eco. I have no idea how they got some sort of partnership when they didn’t even have basic tokenomics docs up until after launch despite promises to the contrary. Now the issue with 2M being taken out of the treasury that they will not admit. They have gone back and changed their medium docs to cover this up and change the narrative but people have screenshots. Big bad stain on the Metis eco. Would stay as far away as possible.
I was a supporter early on. I wanted them to do well, but red flag after red flag and now look where we are…
Features
Treasury
Governance token