Shiba Inu Prepares to Launch a DAO for Community Governance
Shiba Inu, the 13th largest cryptocurrency by market capitalization, is getting ready to launch a decentralized autonomous organization (DAO) that will allow SHIB holders to actively participate in project governance and strategic decisions.
The Shiba Inu DAO will be structured around two main councils: the Charity Council for charitable activities and the Culture & Heritage Council to preserve the unique culture of the community. Other tokens in the ecosystem, such as BONE and LEASH, will also be involved in the governance process.
This launch is part of a broader strategy to increase the utility of the SHIB ecosystem, following the migration of ShibaSwap to the internal Shibarium blockchain to enhance network autonomy and performance, although the announcement has not had a significant impact on the price of SHIB.
The world of cryptocurrencies is evolving rapidly, and Shiba Inu, well-known for its status as a ‘memecoin’, is taking a new step towards decentralization.
The team behind Shiba Inu, currently the 13th largest cryptocurrency by market capitalization, has announced the upcoming creation of a decentralized autonomous organization (DAO).
In a message posted on August 25 on X (formerly Twitter), the pseudonymous marketing manager of Shiba Inu, known as ‘Lucie’, revealed the team’s plans to launch a DAO. This initiative will allow SHIB holders to actively participate in decisions regarding the future of the project.
The launch of this DAO represents an important milestone for Shiba Inu, as it seeks to differentiate itself from other memecoins by offering its community greater influence over strategic decisions. This initiative aligns with a broader movement in the cryptocurrency ecosystem, where decentralized governance is becoming increasingly popular.
The Leadership Councils of the Shiba Inu DAO
The Shiba Inu DAO will be structured around two main councils: the Charity Council and the Culture & Heritage Council. These two councils will guide the community initiatives of the project. The Charity Council will focus on charitable activities, while the Culture & Heritage Council will preserve the unique culture that has emerged within the Shiba Inu community.
Other tokens in the Shiba Inu ecosystem, such as Bone ShibaSwap (BONE) and Doge Killer (LEASH), will also play a key role in the governance process. BONE holders will be primarily involved in expanding education and innovation, while LEASH holders will focus on proposals relating to inclusivity and transparency within the project.
An Extension of the Utility of the SHIB Ecosystem
The launch of the DAO goes beyond governance; it is part of a broader strategy to increase the utility of the SHIB ecosystem. In March 2024, the Shiba Inu team took a significant step by migrating ShibaSwap, its decentralized exchange, to the project’s internal blockchain, Shibarium. This migration aimed to strengthen the autonomy and performance of the Shiba Inu network, while reducing costs and transaction times for users.
Despite the announcement of the DAO, the market reaction has been relatively modest. The price of SHIB has remained stable around $0.000015, after a 14% increase in the last week.
