Doggy DAO, a governance body of the Shiba Inu ecosystem, has provided new strategies for voting. This is intended to increase decentralization and limit the concentration of power. In the update, creators of proposals can decide to use staking, voting via ERC-20 token or quadratic voting.
Doggy DAO Introduces Flexible Voting Models to Limit Whale Influence
According to a post from the Shiba Inu community website, this represents a shift from the earlier system that relied almost entirely on staking-based mechanisms. The action is aimed at empowering small token holders and capping the control taken by whales.
The first addition is the quadratic voting, which makes it far more expensive to buy overriding influence in a verdict. The cost of additional votes increases exponentially. Therefore, the rich cannot easily outnumber the rest of the community members when voting takes place. This is a safeguard designed to counter SHIB whale moves that can otherwise shift market and governance outcomes.
ERC-20 wallet-based voting has also been added. This choice allows participants to vote using their token balance directly without the obligation of staking. It is expected to make it easier to participate by eliminating obstacles to the individuals who might not want to lock up their assets.
The staking-based voting, in its original format is still provided. Proposal creators can now select the most appropriate model for their governance items.
Shiba Inu engineering manager “ShadowHunter” explained in the blog post that this flexibility ensures governance proposals reflect the unique nature of decisions being made. It is possible that certain proposals could be more effective under staking, whereas some would need direct token participation or a quadratic cap to have a more equal representation.
The DAO also noted that an identity-based model of voting is under development. This would enable one person, one vote. This would be another step towards equity in decision-making across the Shiba Inu ecosystem. When the system is introduced, this may significantly affect the balance of power, particularly when the Shibarium grows.
Reforms to Shibarium Governance Strengthen Decentralization in Web3 Expansion
This governance upgrade makes Shiba Inu align with further Web3 exploration of partial decision-making systems. This further supports ongoing Shibarium security boosts and token burn initiatives. Most decentralized systems are now trying to work out how the communities can be balanced. Such modifications will prove crucial to the Shiba Inu ecosystem as it tries to achieve future upgrades and other strategic decisions.
The development highlights the fact that blockchain-based communities are continually exploring solutions that offer a balance in fairness, inclusivity and security.
Paul
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Source: https://coingape.com/doggy-dao-unveils-voting-strategies-for-shiba-inu-expansion/