Shiba Inu Set To Launch Its First DAO: What’s It All About?

Shiba Inu has become a pioneer in the crypto industry, with the 13th position in the market ranking and second spot in the meme-based tokens categories. However, this dominance did not happen randomly, as the developers and the community have come together to make the best decisions for the network. The network is now working on a DAO launch to allow voting and user involvement in community decisions despite their holding sizes to continue this corporation.

This is another prominent decision in developing this crypto in the market. The SHIB team has already implemented a burn mechanism, SHIB burn, to reduce the high token quantity and maintain scarcity. In another development attempt, the team has worked on Shibarium as a scaling solution (Layer 2) and Shiba Inu’s First Shibarium game with big tournaments and winning rewards. Now, DAO is the new attempt to go to the next level to implement decentralized governance.

Shiba Inu Marketing Lead Revealed DAO Plans

SHIBA’s marketing lead, Lucie, has recently taken the X platform to reveal the upcoming plans. The X post involved a detailed description of the launch of the meme coin’s first Decentralized Autonomous Organization. This will permit the token holders to vote on the upcoming initiatives and determine the project’s future.

“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.” said Lucie.

Lucie began the post by explaining the history of Shiba Inu and how it was created with no purpose but decided to create a significant future for its holders. She explained how SHIB has become a valuable asset with real-world applications, accepted by merchants worldwide. And, now to get to another level of scalability, DAO is the next step.

Two Councils To Direct The Governance

The marketing leader has given a sneak peek into the SHIB’s governance. The post revealed the Charity Council and Culture & Heritage Council working together in governing the network. These two councils are to steer community initiatives ranging from charitable outreach to preserving the community’s culture.

This does not end here because BONE and LEASH tokens will play a vital role in the Decentralised Autonomous Organisation’s governance. The BONE token holders will receive precedence to expand education and innovation. On the other hand, LEASH token holders will work on inclusivity and maintaining transparency within the network.

This news has brought new excitement among the token holders. However, SHIB price saw no immediate jump, currently at $0.00001485 with a market cap of $8.75B. 

Final Thoughts

Shiba Inu has achieved many developmental goals under the leadership of Shytoshi Kusama, which Lucie, the marketing head, has appreciated in a recent X post. However, the post was to announce the upcoming network plans to launch a DAO to provide decentralized governance to its community regardless of their token holdings. More importantly, BONE and LEASH token holders will play a significant role in maintaining transparency and innovating on the network.

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Pooja Khardia

With years of love for reading and 5 years of content writing experience, I’m here, working on my favorite writings about cryptocurrency. I’m actively looking for trending topics and informational statistics to curate the best content pieces for crypto enthusiasts. Staying updated with trends and learning the basis and advancements of this field is the best part of the day.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.