The team behind Shiba Inu (SHIB) has announced the first version of Doggy DAO – DAO 1 (Beta). It is designed to accelerate the development of the token while staying true to the principles of decentralization.
As per the blog post on the official website, the main goal of DAO 1 is to provide members of the community “instant the power” to choose cryptocurrency-related projects and pairs that will be available on the ShibaSwap platform. The community will also influence how BONE prizes will be shared with them.
ShibaSwap is the primary DEX of the Shiba Inu cryptocurrency project. SHIB Doggy DAO, on its own, seeks to be a non-centralized entity managed by the SHIB community, which will determine the future of the meme coin’s ecosystem.
With the aid of the brand new system for the community, voting members will have the ability to use their voting power by distributing the BONE tacked version, also known as TBone, to the projects they wish to pursue and keep track of the various aspects.
The users will choose the pools for liquidity, and developers won’t be able to influence or exert control or exert any influence in the way. The objective of the current beta is to decentralize.
This is also a significant stage for the development of a decentralized exchange. The developers believe that the initial phase of the launch will encourage new investors to join the platform.
The Shiba Inu team hopes that this tool will “motivate” and help other projects as well as their creators to offer liquidity for their tokens or pairs. This will, in turn, boost the accessibility and the volume of the ShibaSwap platform.
When it is ready and running, the team expects to receive pertinent feedback from the community. They will also be monitoring the process to ensure that users consider the system to be accessible as well as secure and fair.
Read Also: The BitMEX CEO Gregory Dwyer Lawsuit Has Been Postponed Until October 2022
Disclaimer: The information provided in this article is for informational purposes only and should not be construed as financial or investment advice. Cryptocurrency investments are subject to market risks, and individuals should seek professional advice before making any investment decisions.
- Advertisement -
Comments are closed.