SHIB launched BETA DAO version to give the users more authority over crypto projects and pairs on the ShibaSwap platform as we take a closer look at today’s altcoin news.
The Dogecoin rival wants to give its users more control over crypto projects which is why SHIB launched Beta DAO version to give them more authority to decide on crypto projects and pairs on the platform. The Dogecoin rival will release Doggy Day in a “stage-by-stage” metric and the first phase called “DAO 1” will be implemented in the next few days.
The DAO 1 phase will mostly focus on providing immediate power to the community and decide which crypto projects and pairs on the ShibaSwap WOOF pools will be and how the BONE rewards will be distributed amongst them. The DAO will use BONE for voting rights which is the new staking contract and can lock BONE for a longer period of time before the voting even begins. Once the first phase is complete, thanks to the community feedback, Shiba Inu will release a new version dubbed DAO 2 to allow the community to make generic proposals for considerations or review by the “Multisig-Team and Breeds.
Shiba Inu also noted that to avoid whales controlling the entire process, the guardian’s wallets will have a final say on whether the pair should be listed or not. Shiba Inu’s price surged at the end of 2021 after whales added to their existing positions with one wallet buying $134 million of the token.
As recently reported, The Shiba Inu team announced the launch of the first phase of Doggy DAO beta with a goal to accelerate the growth of the token while staying true to the ethos of decentralization. According to the official blog post, the main focus of DAO 1 is to bestow the community members with the power to decide on the crypto projects and pairs on the platform. The community will also have a say on how the BONE rewards will be distributed amongst them. ShibaSwap is the native DEX of the Shiba Inu crypto proejct. This Doggy DAO on teh other hand will be a decentralized organization that will be steered y the SHIB community and will control the future of the meme coins ecosystem
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