Shiba inu coin is launching the Doggy DAO to give enthusiasts voting power over crypto projects
- The developers of
shiba inu coinare launching a decentralized autonomous organizationcalled Doggy DAO.
- The first phase, called DAO 1, allows users to vote on
cryptoprojects and trading pairs.
Shiba inu coin is launching the Doggy DAO to give users more power over the cryptocurrency.
In a blog post on ShibaSwap, the coin's developers said they're launching a decentralized autonomous organization -- like the one that tried to buy the US Constitution -- in order to give
The DAO will be launched in phases, with the beta version, dubbed DAO 1, launching in a few days. A DAO allows online communities, like the one behind shiba inu coin, to pool resources and coordinate around common goals. Its rules and voting initiatives are implemented via blockchain technology.
"This is a crucial first step, orienting our Decentralized Exchange to grow, while promoting all the benefits to the #ShibArmy from such pairs, and welcoming new investors to use the platform," the blog post said. Trading pairs refers to crypto assets that can only be bough and sold with other cryptocurrencies.
In the next phase of the DAO, community members will be able to make generic proposals for consideration.
The shiba inu developers said the "guardians 6/9 wallet" would have the final call over new pairs in order to prevent people, like crypto whales who tend to buy large sums of tokens all at once, from "gaming the system."
Shiba inu coin, the rival to its predecessor
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