Shiba Inu Developers to launch the first DAO

The developers behind the Shiba inu coin project announced the launch of the first DAO of the Shiba inu token project.

Shiba inu was a popular crypto project of 2021, however many crypto assets grabbed huge surge and attention in the crypto industry but meme token-based crypto assets were in top-level trend because of Elon Musk’s support in the industry to Dogecoin. Because of the popularity of Dogecoin, many other meme tokens grabbed attention. Shiba was also one of the tokens which took advantage of the meme coin trend. 

The core use case of the Shiba inu token project is nothing, but to sustain its future in the crypto industry for the long term, Developers and community supporters are doing their best to bring new use cases with the Shiba inu token. 

On 31 December, The developer team behind the Dogecoin rival Shiba inu coin announced the “Doggy DAO” initiative, to give empowerment to the Shiba inu token holders and lovers. 

This new initiative of the Shiba inu project is aimed to bring empowerment in the hands of the Shiba, BONE & tBONE holders.

Under this initiative, the team will launch a voting system for the BONe & tBone token holders to vote for the preferred project that they want to see on the ShibaSwap Decentralized project. 

Developers claimed, through the blog, that such ideas will bring high decentralized power to the community on ShibaSwap. 

“This is a powerful tool, as the rewarded Liquidity Pools will be decided fully by the users. This avoids the Developers from making those very choices. The responsibility falls on the community, and what they want to experience within the platform,” the blog added

This will also allow the community and other projects to insert liquidity in the project for their respective token pairs including the Shiba token also to push the liquidity to the next level.

“will motivate and allow external projects, and their developers to provide liquidity for their tokens/pairs, while aiding ShibaSwap to continuously increase its utility and volume.”, Blog added

Read also: US SEC agency added new executive to oversight the crypto activities