The DAO is captivating audiences all over the world, and it has also attracted the attention of various exchange platforms. The token associated with this crowdsale will be tradeable across multiple platforms, and BTC Markets is one of the first to officially announced support for The DAO tokens.
BTC Markets Lets You Trade The DAO Tokens
Now that The DAO crowdsale will be coming to end soon, investors will be looking to increase the value of their associated tokens. While the primary purpose of investing in this project is to obtain voting rights for proposals submitted by other members, there is also an opportunity to sell the tokens on one of the supporting exchanges.
BTC Markets has announced their support for trading The DAO tokens as of May 28, 2016. In doing so, they are one of the first Bitcoin exchange platforms to do so, although it is expected others will follow suit. As part of this trading opportunity, BTC Markets users can trade The DAO tokens against both Bitcoin and Ethereum.
BTC Markets Managing Director Jarrod Crane told the media:
“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.”
Although many expected The DAO to do quite well in their crowdsale efforts, this unprecedented success was not something most people had envisioned. Keeping in mind how there are still a few days left to invest in this project, the total tally may get close to – or even surpass – the US$200m mark.
It is positive news to see BTC Markets paying close attention to The DAO and add support for its tokens to be traded on the platform. Considering how Australia’s largest digital asset exchange was founded in 2013, this news is a significant vote of confidence for The DAO project, as it opens up the market to new investors from all over the world.
At the same time, The DAO has been quite successful in its own right, as the project aims to leverage the wisdom of the crowd to benefit its token holders. With a delegated management structure and collective voting, this is a clear example of how distributed autonomous organizations should work.
Source: Press Release Via Email
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