Shiba Inu Initiates a Beta Version of DAO to Ensure Decentralization and Prevent “Whales” From Manipulating the System

11.01.2022 23:38
by Nina Petrov
2 min read
SHIB The Dogecoin Killer coin
Source: Unshplash.com

Doggy DAO is the name of a new decentralized autonomous organization announced by the Shiba Inu team. 

The idea of the Doggy DAO project is to ensure decentralization and fair power distribution among the users. In order to prevent big players from manipulating the system, the guardians (6/9 wallet) will be the ones to make the conclusive decisions.

The implementation of the new system will be carried out in three stages. 

The first stage (so-called DAO 1) started several days ago. It invites Shiba Inu enthusiasts to vote on how they want the platform to develop in the future. The online community, named #ShibArmy, will be able to decide on common goals, future projects, and which trading pairs would be made available.

The voting is fully regulated by the community and is implemented on the blockchain. Those users that participate in the voting, will be awarded for their efforts and engagement. The award is a certain amount of BoneCoin ($BONE), the ShibaSwap native coin.

The developers believe that achieving the desired level of decentralization in the future starts now, with DAO 1 stage. They believe that only a safe and decentralized blockchain can attract new users and investments.

The “Whales” of Shiba Inu

Doggy DAO project is strict about limiting the power of large investors since they could go rogue and manipulate the entire blockchain. However, it was the big investments that helped Shiba Inu grow by 42 million%. One user invested $136 million, getting into possession of 4 trillion Shiba Inu tokens.

Of course, such growth and reliability among important investors wouldn’t be possible without the well-organized SHIB Army community. 

shiba inu with shades
Source: Unsplash.com

The Future Projects of Shiba Inu

During the following DAO 2 stage, Shiba Inu will launch the updated version and ask the users to submit proposals for the team to take into consideration. Furthermore, the team will carefully examine the user feedback, in order to gain a better understanding of the community’s needs and opinions.

The company also has a Shibarium project on the way. The purpose of this undertaking is to further reduce transaction fees. Making Shiba Inu safe and cheap to use is obviously the long-term plan of the developing team. Such a strategy has a great chance to attract investments and a significant number of new users to the community.

Author

  • Nina Petrov is a theoretical mathematician, passionate about new trends in the global economy and blockchain technology. She is a devoted content creator and editor, crypto-enthusiast and stock market analyst.

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