Shiba Inu to Launch DAO for Decentralized Governance
Shiba Inu has emerged as a major player in the cryptocurrency space, ranking 13th overall and second among meme-based tokens.
This success is the result of strategic decisions by its developers and community. The network is now preparing to launch a Decentralized Autonomous Organization (DAO), which will enable token holders to participate in governance and decision-making, regardless of their stake size.
This move follows several key developments, including the implementation of a burn mechanism to reduce the token supply and the creation of Shibarium, a Layer 2 scaling solution. Additionally, the Shiba Inu team has introduced a game on Shibarium, complete with tournaments and rewards.
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Lucie, the marketing lead for Shiba Inu, recently announced the DAO plans on X. According to her, the DAO will mark a significant shift towards decentralized governance, allowing all SHIB holders to influence the project’s future.
The DAO will consist of two councils: the Charity Council and the Culture & Heritage Council. These councils will guide initiatives related to charity and community culture. Additionally, the governance will involve BONE and LEASH token holders, with BONE focusing on education and innovation, and LEASH on inclusivity and transparency.
Despite the excitement surrounding the DAO announcement, SHIB’s price remains stable at $0.00001485 with a market cap of $8.75 billion. Under the leadership of Shytoshi Kusama, Shiba Inu continues to advance its goals, with the DAO being the latest step toward enhancing community involvement and network scalability.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
