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The Shiba Inu DAO would allow the SHIB voters to vote on future initiatives such as having a say in the future direction of the project.
In the latest announcement, the Shiba Inu development team stated that they are soon preparing to launch a decentralized autonomous organization (DAO) for the meme coin. In a recent post on Sunday, August 25, Shiba Inu’s marketing lead Lucie made the official announcement for the same.
She said that the Shiba Inu DAO would allow the SHIB voters to vote on future initiatives such as having a say in the future direction of the project. In the post shared by Lucie, the team said that Shiba Inu is aiming to bring tangible utility and widespread recognition to the platform.
Thus, with the launch of the upcoming DAO, Shiba Inu seeks to become a key player in decentralized governance. Lucie noted:
“Shib is preparing to become a key player in decentralized governance with the upcoming launch of its DAO. This transition will empower every holder, regardless of the size of their stake, to have a say in the community’s direction.”
The marketing lead further stated that two main councils, “Culture & Heritage Council” and the “Charity Council”, will lead the governance of the Shiba Inu DAO. According to Lucie, these councils will guide community initiatives, focusing on charitable efforts and preserving the distinct culture of the Shiba Inu meme coin community.
Who Will Be Part of the Shiba Inu DAO Governance?
Apart from Shiba Inu’s native SHIB holders, other tokens that are part of the Shiba Inu ecosystem, such as LEASH and BONE will play a significant role in the DAO governance process. The holders of the BONE tokens will get precedence over expanding innovation and education. On the other hand LEASH holders can focus on proposals related to transparency and inclusivity within the project. Thus, these measures will further help to expand the utility of the SHIB ecosystem.
Earlier this year on March 18, the SHIB team announced that ShibaSwap, the decentralized exchange (DEX) within the Shiba Inu ecosystem, has successfully migrated to the project’s native Shibarium blockchain.
Shiba Inu’s native cryptocurrency SHIB is showing minor gains at 1.33% as of press time and is currently trading around $0.00001514 with a market cap of $8.8 billion. Over the last week, SHIB price has gained over 14% amid the broader market recovery.
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Bhushan is a FinTech enthusiast and holds a good flair in understanding financial markets. His interest in economics and finance draw his attention towards the new emerging Blockchain Technology and Cryptocurrency markets. He is continuously in a learning process and keeps himself motivated by sharing his acquired knowledge. In free time he reads thriller fictions novels and sometimes explore his culinary skills.
