What Is Citadel DAO?

Update: Check out this new post to learn more.

A number of treasury DAOs have sprung up recently, bringing some assets into the treasury to be managed by the DAO itself. I found Citadel DAO recently.

Citadel is a treasury DAO aiming to be the largest community owned Bitcoin position in the world. 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.

Looks ambitious, right? I'm interested in the Citadel DAO at first glance. I will try to dig into what it is and how it works in this post.

Official Links

https://citadeldao.io/

https://twitter.com/TheCitadel_DAO

https://docs.citadeldao.io/

Short Introduction

TLDR: It looks like the OlympusDAO with treasury assets focusing on BTC and putting assets into badger or other yield protocols.

The introduction post written by the official team is easy to read.

Basically, Bitcoin is the Citadel DAO's main treasury asset and the DAO seeks to hold as much Bitcoin as it can. The CTDL token is its governance token.

Treasury Assets

• Bitcoin (mainly)
• Other yield influence assets (e.g. CVX and Badger) for boosting yield

Mechanism

1. Swap Bitcoin or yield influence assets for xCTDL (interest bearing Citadel) at a discount price
2. Lock xCTDL for 21 weeks to receive a boost weight in CTDL emissions and other earnings sharing

Nothing new for me.

Will it succeed?

Code

https://github.com/Citadel-DAO/citadel-contracts