By Nermeen Nabil TLDR:
Shiba Inu plans to launch a DAO for decentralized governance
Two councils will steer community initiatives: Charity Council and Culture & Heritage Council
BONE and LEASH token holders will have specific governance roles
The DAO aims to empower all SHIB holders to have a say, regardless of stake size
This move is part of Shiba Inu’s evolution into a versatile blockchain platform
The team behind Shiba Inu, the popular memecoin, has unveiled plans to launch a decentralized autonomous organization (DAO) to give token holders a voice in the project’s future direction.
Shiba Inu’s marketing lead, known as “Lucie”, shared details of the upcoming DAO on social media. The new governance structure will allow SHIB holders to vote on initiatives and participate in decision-making, regardless of the size of their holdings.
“This transition will empower every holder to have a say in the community’s direction,” Lucie stated.
Two main councils will guide the DAO’s governance: the Charity Council and the Culture & Heritage Council. These bodies will oversee community initiatives ranging from charitable outreach to preserving Shiba Inu’s unique culture.
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) August 24, 2024
Other tokens in the SHIB ecosystem will also play important roles. BONE token holders will focus on education and innovation proposals, while LEASH holders will address issues of inclusivity and transparency.
The move to decentralized governance comes as Shiba Inu seeks to cement its position as a leading cryptocurrency. Despite being launched as a memecoin, SHIB has grown to become the 13th largest crypto by market cap.
Over the past year, the Shiba Inu team has worked to expand the token’s utility. Major developments include the launch of Shibarium, a Layer-2 scaling solution, and plans for a Layer-3 blockchain incorporating advanced cryptography.
The DAO represents another step in Shiba Inu’s evolution from a memecoin to a more robust blockchain platform.
By involving token holders in governance, the team aims to harness community passion while increasing real-world applications for SHIB and related tokens.
“Shib’s rise from a community experiment to a leading cryptocurrency showcases the power of decentralized initiatives driven by passionate communities,” Lucie commented.
While excitement is building around the DAO plans, the price of SHIB has not seen a major reaction so far. The token is currently trading at $0.00001514, up 14% over the past week but still down significantly from its all-time high in 2021.
The Shiba Inu team has not announced an exact launch date for the DAO, noting it is still under development.
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Nermeen Nabil Khear