Tokemak has joined The Knights of the Citadel, a group of launch partners who will be distributed a governance stake in Citadel DAO.
Citadel is a treasury DAO that aims to acquire massive token holdings (primarily BTC) and allow members to benefit from the earned yield through Badger vaults, Convex, and more.
Unlike most DAOs whose goal is to ship a product or service, treasury DAOs aim to strategically invest their holdings in order to take advantage of yield generating opportunities that would otherwise be too time consuming or costly for individual users.
The large holdings that a treasury DAO controls also gives it more influence across the crypto ecosystem, allowing it to vote for more favorable terms or request new strategies from protocols, or demand additional BTC-based yield options.
The treasury and protocol will be governed by the CTDL token, with a predominant Bitcoin treasury actively earning yield and shared with long term CTDL holders.
Tokemak users will be whitelisted to join Citadel DAO, so stay tuned for further updates!