Shiba Inu to launch a DAO

From being just a memecoin, SHIB is trying to have more use cases in the crypto space.


Shiba Inu (SHIB) developers announced that they will launch a decentralized autonomous organization (DAO).
SHIB Token | image: ShibaSwap

Shiba Inu (SHIB) developers announced that they will launch a decentralized autonomous organization (DAO).


According to a new blog post, the DAO will let stakeholders decide on reward pools, coin listings, and more.


The team behind the "Dogecoin Killer" said that Shiba Inu’s DAO would collectively make governance decisions about the project’s ShibaSwap exchange. Thus, users who have staked $BONE to receive $tBONE could also vote.


Not to mention that in the beta version of the DAO — DAO 1, users will determine how token rewards are shared between diverse liquidity pools.


The team explains further that this gives power to its community of users, saying, "rewarded liquidity pools will be decided fully by the users….this avoids the Developers from making those very choices.”


Aside from this, users could also stake tokens to vote for other digital asset listings and pairs to attract liquidity deposits for those assets. This will happen on a cyclical basis, meaning a minimum of 30 pairs will be showcased every 14 days.


After there will be another new DAO called DAO 2. This new one will enable users to make general proposals around the development of the project.