Shiba Inu marketing head has revealed plans for a new DAO, aimed at giving SHIB holders a voice in the future of the memecoin project. The Shiba Inu team, the 13th largest cryptocurrency by market cap, is set to launch a decentralized autonomous organization (DAO).
In an August 25 post on X, Shiba Inu’s marketing lead, known as Lucie, announced the creation of the DAO, which will enable SHIB holders to vote on future initiatives and influence the project’s direction. Lucie stated: “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 their stake size, to have a say in the community’s direction”.
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The DAO will be governed by two main councils: the “Charity Council” and the “Culture & Heritage Council.” These councils will guide community initiatives, including charitable activities and preserving the unique culture of the Shiba Inu community.
Tokens within the SHIB ecosystem, such as BONE and LEASH, will also participate in the DAO governance. BONE holders will prioritize education and innovation, while LEASH holders will focus on proposals related to inclusivity and transparency within the project.
Lucie emphasized that the DAO will enhance the utility of the SHIB ecosystem. On March 18, the Shiba Inu team announced that ShibaSwap, a decentralized exchange aligned with the Shiba Inu ecosystem, had migrated to the Shibarium blockchain.
Currently, the price of SHIB is $0.00001514, showing a 14% increase over the past week, although it remains 82.4% below its all-time high of $0.00008616 from October 2021.
Following a hack of the Indian crypto exchange WazirX on July 18, where SHIB suffered significant price damage, the token experienced a sharp 15% drop as hackers offloaded millions worth of SHIB.
Cre: cointelegraph
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