The meme token Shiba Inu (SHIB), which has “gifted” half of its total supply (410 trillion SHIB) to Ethereum founder Vitalik Buterin, is bracing itself with a series of community-supported “token burn” events in December. The “Shib army”, which has become increasingly crowded, especially on Twitter, has reached the roadmap for 2022 with a few important news today. Let’s take a look at the details of the “DOGGY DAO” that will give the meme coin project a DAO structure.
Shiba Inu getting ready for DOGGY DAO
The developer team behind Shiba Inu (SHIB) announced in a new blog post that it will launch a Shiba-owned DAO. The DAO of the meme coin project will collectively take the management decisions regarding the project’s ShibaSwap decentralized exchange. Users who staked Shiba Inu’s reward token BONE to receive tBONE will be able to vote. In the beta version of the DAO called “DAO 1”, users will decide how to distribute their token rewards among various liquidity pools. The team shares that this will empower the user community:
Users will decide entirely on the award-winning liquidity pools…. this prevents developers from making these choices.
https://twitter. com/Shibtoken/status/1476714133609455620
Users will also be able to stake tokens to vote for other cryptocurrency listings and pairs, a feature aimed at attracting liquidity deposits for these assets. This will happen cyclically, with at least 30 pairs exhibited every 14 days. Next, a new DAO called DAO 2 will allow users to make general recommendations regarding the development of the project.
Things to know about DAO
- Doggy Dao will launch in a phased approach. The first phase, called “DAO 1”, will be rolled out over the next few days.
- Shiba Inu will release a newer version called “DAO 2” once the first phase is complete using community feedback, to allow the community to make public proposals for consideration or review by a “Multisig-Team and Breeds”.
- Shiba Inu noted that “guardians (6/9 wallets)” will have the final say on whether to list a pair, to make sure no one is “really playing the system”, to avoid potential whales controlling the voting process.
Cryptocoin. com
As we quote , Bigger Entertainment owner Steven Cooper has prepared a playlist where users can burn SHIB by listening to music:
https://twitter. com/iamstevencooper/status/1472242840679817221
