Shiba Inu Reveals Plans To Establish Its Own DAO

3 months ago 20

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In a post on X from August 25, Shiba Inu (SHIB) has announced its intention to establish a decentralized autonomous organization (DAO). The announcement was detailed by Shiba Inu’s marketing lead, Lucie (@LucieSHIB).

The Vision For A Shiba Inu DAO

Lucie emphasized that Shiba Inu currently stands as the 13th largest cryptocurrency by market capitalization, a testament to its dramatic rise since its inception in 2020 by the enigmatic founder known only as Ryoshi. Initially conceived as a token without a predefined purpose, Shib was designed to explore the possibilities of a fully community-driven cryptocurrency. Ryoshi‘s relinquishing of control by burning the keys to the token’s supply marked a pivotal moment, entrusting the project to Shytoshi Kusama and a team of volunteers.

Under Kusama’s leadership, Shib has transcended its origins as an experimental token to become a globally recognized digital asset. The upcoming transition to a DAO model aims to further empower its community by democratizing governance processes. Lucie revealed:

“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. While the DAO hasn’t been fully implemented yet, its introduction will mark a major milestone, giving Shibizens more control over decisions that impact the ecosystem.”

The governance model of Shib will be anchored by two main councils: the Charity Council and the Culture & Heritage Council. These bodies will play crucial roles in directing community efforts and ensuring that Shib’s growth aligns with its foundational values. The Charity Council will focus on philanthropic activities, leveraging the cryptocurrency’s resources and community support to effect social change, while the Culture & Heritage Council will work to preserve the unique culture and ethos that have come to define the Shib community.

Moreover, Shib’s marketing lead teases the integration into real-world use cases to ensure long-term relevance and utility. “Shib’s growth isn’t just about market performance; it’s also about tangible utility and widespread recognition. Accepted by thousands of merchants worldwide, Shib has proven itself as a valuable asset with real-world applications, making it a standout in the competitive crypto space,” Lucie writes.

Looking into the future, Shib’s strategic roadmap includes not only enhancing its governance framework but also expanding its real-world applications. The introduction of a DAO is seen as a crucial development that will likely bolster Shib’s influence in the decentralized finance (DeFi) space.

“As Shib continues to develop, its role in governance and real-world applications will only grow stronger. Shib’s rise from a community experiment to a leading cryptocurrency showcases the power of decentralized initiatives driven by passionate communities. More than just a token, Shib is setting the stage for how decentralized projects can redefine both finance and governance,” Lucie says.

In addition to Lucie’s insights, Shiba Inu lead developer Shytoshi Kusama provided further details on the importance of the LEASH token inside the ecosystem. “Leash holders serve as a class of moderators to keep order, protect the system, while being able to vote on disputes in the Leash DAO. Karma, reputation, and other proprietary protocols protect the Shibizens,” Kusama explained via X.

Notably, Kusama recently teased that he will step down as Shiba Inu’s leading figure by the end of the year, presumably making way for the introduction of the DAO.

At press time, SHIB traded at $0.00001495.