January 3, 2022

Shiba Inu Introduces Doggy DAO, ‘Surrender’ ShibaSwap To Its Community!

Further development of the Shiba Inu network (SHIB) is said to be actively working to develop a decentralized autonomous organization (DAO).

In a blog post uploaded on December 31, developer Shiba Inu announced the first phase of the establishment of Doggy DAO has begun.

The establishment of the DAO aims to hand over control of the decentralized exchange (DEX) project, ShibaSwap to its community.

It is understood DAO 1 was launched in beta on January 1st.

The phase allows the Shiba Inu community to do two things:

Votes on projects and cryptocurrency pairs to be listed in liquidity pools, WOOF

How to distribute BONE tokens on ShibaSwap to its community.

Perhaps many are not yet clear, the presence of the DAO makes the Shiba Inu network more decentralized through rights and power to its community.

In DAO phase 1 also ShibaSwap users have the opportunity to vote against the project by staking a BONE token to get tBONE.

Meanwhile, in DAO 2, the system will go through a more complex phase through the improvement of the use of BONE/tBONE token cases.

DAO 2 also allows its community to make more generic recommendations that will then be scrutinized by the ShibaSwap multisig team.