BNB Treasury on NASDAQ: $300M and DAO Governance

BNB Treasury on NASDAQ: $300M and DAO governance – an initiative by 10X Capital and CEA listing the BNB treasury and its on-chain model for institutions – is entering the game. This is backed by major players, including Circle Ventures, Animoca Brands, Shima Capital, Magnus Capital, and Morningstar Ventures.

The First Public BNB Treasury in the World

A fairly significant event: thanks to CEA Industries and 10X Capital, with the involvement of YZi Labs, we are witnessing the creation of the first public BNB treasury in the world, structured as a public company and registered on NASDAQ under the ticker VAPE. The project is being implemented via a merger with the previously registered issuer, VAPE Holdings, and includes raising $300 million through a private placement mechanism.

If we delve into the structure, it combines public reporting with on-chain DAO governance via the DAO Gateway platform. As a result, a hybrid institutional structure is created, combining traditional financial mechanisms with tokenized governance based on BNB Chain. One of the key beneficiaries here is the decentralized community, which will gain access to managing a tokenized asset portfolio through DAO infrastructure.

"This structure will enable the VAPE Treasury to bring a new level of transparency and operational discipline to the digital asset sector."

If we look at the numbers, the $300 million within the private placement was raised through a PIPE mechanism, under which investors receive rights to a share in the treasury structure. Among the participants are several major funds from the crypto and venture ecosystem:

• Circle Ventures
• Animoca Brands
• Shima Capital
• Spartan Group
• MarketAcross
• Morningstar Venture
• LD Capital
• MEXC Ventures
• New Tribe Capital
• MH Ventures
• Magnus Capital

CEO of VAPE Holdings Steve Sadoff stated:

"We believe this is the first ever publicly listed BNB Treasury company in the world."

The treasury will be governed as an on-chain DAO and will invest in strategic digital assets within the BNB Chain ecosystem, including staking, protocol support, and infrastructure projects. At the same time, we can observe support for fairly strict reporting and corporate control standards, including SEC filings, GAAP-compliant financial reporting, and independent audit procedures.

CEO of VAPE Holdings Jason Roth noted:

"With the support of 10X Capital, CEA, and YZi Labs, we’re launching a transparent, regulated, and institutionally supported treasury vehicle on-chain."

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What Could This Mean for Us – Crypto Investors and Enthusiasts?

This is a precedent, and it cements a new institutional role for BNB as an infrastructure asset, suitable for building a public reporting model based on DAO. And this is more important than it may seem, as this is the first case of a BNB treasury being brought to public listing through SEC registration and undergoing independent verification. And this stands in stark contrast to the fact that earlier similar initiatives were limited to closed-end funds and private DAOs.

It is undoubtedly an indicator of growing interest in tokenized assets and treasury structures based on crypto. Moreover, this initiative could potentially become a foundational model for future projects within the Ethereum, Avalanche, and LayerZero ecosystems. Stay tuned for the latest updates in crypto, blockchain, and DeFi.