On October 17, 2024, LUCIE, the marketing leader of Shiba Inu (SHIB), announced that the decentralized autonomous organization (DAO) and foundation for SHIB are set to launch soon. According to LUCIE, the SHIB DAO and foundation are expected to roll out between 2024 and 2025, ushering in a "completely decentralized and autonomous future."
A decentralized autonomous organization (DAO) is a type of organization that operates without a central governing body, instead relying on the cooperation of its participants.
Typically, members who hold a specific cryptocurrency are granted voting rights, allowing them to participate in decision-making processes.
LUCIE explained that the DAO will function as a governance system where holders of key tokens like SHIB, BONE, LEASH, and TREAT can make crucial decisions.
This decentralized model will enable the SHIB community, not external voices or short-term rumors, to shape the future of the project by involving those who truly believe in SHIB.
While previous reports have provided insights into the development of SHIB's DAO, this recent announcement highlighted several significant details:
- Voting Power for Token Holders: With the introduction of the DAO and foundation, token holders will be able to vote on a wide range of issues, from community projects to technological advancements.
- Shib Doggy DAO Foundation: This foundation will serve as the legal backbone of the DAO, ensuring that the community's decisions are properly implemented. It will also manage assets, such as the "Doggy Treasury," to prevent misallocation and offer transparency and security.
- Four Key Governance Areas: The governance system will be divided into four main sectors based on the following tokens:
- SHIB: Governs the entire community.
- BONE: Supports SHIB’s technological infrastructure.
- LEASH: Provides protection and exclusivity.
- TREAT: Aids community projects by offering funding.
Note: TREAT is not yet issued, so caution is advised against potential scam tokens.
LUCIE acknowledged that implementing this governance system may take some time, but once fully operational, it will create a sustainable and autonomous SHIB ecosystem.
In earlier reports, it was mentioned that SHIB’s decentralized governance would be supported by two major councils: the Charity Council and the Culture & Heritage Council. These councils will play a key role in guiding the community’s decisions.
Shiba Inu is recognized as a prominent project with a vast, global community. Therefore, the decisions and actions taken through the DAO will likely have a significant impact on the future of the project.
The full-scale activation of the DAO is a highly anticipated development within the crypto world, and many are eager to see how it will shape SHIB’s trajectory.
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