Shiba Inu (SHIB) Memecoin Team to Launch a DAO, Giving Holders the Ability to Vote on Projects

The team behind the 13th-largest crypto by market capitalization, Shiba Inu memecoin, is getting ready to introduce a decentralized autonomous organization (DAO).

Shiba Inu (SHIB) memecoin has announced plans to launch a decentralized autonomous organization (DAO), giving token holders the ability to vote on upcoming projects and influence the project’s future course.

Shiba Inu’s pseudonymous marketing head Lucie announced the DAO launch in an Aug. 25 post on X (formerly Twitter), revealing that the initiative will mark a significant step for Shib in decentralized governance.

“Every stakeholder, regardless of the size of their investment, will be able to influence the community’s future direction thanks to this shift.”

Shiba Inu’s DAO will be overseen by two main councils: the Charity Council and the Culture & Heritage Council, Lucie explained. These councils will lead communal projects, including philanthropic initiatives and the preservation of Shiba’s unique culture.

“The councils will direct communal projects, such as philanthropic outreach and preserving Shiba’s distinct culture. These initiatives prioritize inclusion and openness, ensuring that Shib’s expansion stays loyal to the principles that have guided it from the beginning.”

Shiba Inu (SHIB) to integrate real-world use cases, hints marketing head

Shib’s marketing lead also hinted at the integration of the token into practical use cases to guarantee its continued relevance and utility. According to Lucie, Shib’s success is not only measured by its market performance but also by its broad recognition and real value.

“Shib has been accepted by hundreds of merchants around the world thanks to its status as a valuable commodity with practical applications, helping it stand out in the crowded cryptocurrency market.”

Shib’s strategy for the future involves expanding its practical applications and improving its governance system. Launching a DAO is anticipated to significantly increase Shib’s presence in decentralized finance (DeFi).

This project exemplifies the meme coin’s dedication to incorporating practical applications into its network. Over the last year, the digital asset has advanced considerably, introducing several improvements to enhance its blockchain network and launching Shibarium, a Layer-2 scaling solution.

One of these projects aims to construct a Layer-3 blockchain on top of Shibarium, the current Ethereum Layer-2 network. Thanks to the integration of Fully Homomorphic Encryption (FHE) in the L3, developers will be able to safely handle data without the need for decryption.

Leading Shiba Inu developer Shytoshi Kusama added more information about the significance of the LEASH coin inside the ecosystem in addition to Lucie’s observations.

“Leash holders can vote on conflicts in the Leash DAO and act as a class of moderators to maintain order and safeguard the system. The Shibizens are protected by karma, reputation, and other exclusive protocols,” Kusama clarified through X (formerly Twitter).

Remarkably, Kusama hinted that he would relinquish his position as the head of Shiba Inu by the end of the year, presumably to allow for the launch of the DAO.

The SHIB price did not respond strongly to the latest news; it is presently trading at $0.091834, up 5.23% over the previous week. According to Coinmarketcap data, SHIB has decreased 83.36% from its all-time high of $0.00008616 hit in October 2021, even if its market cap is still $183,361.

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