For the meme token Shiba Inu (SHIB), 2021 has been an awesome year notwithstanding it had to go through ups and downs. What better way to end the year than with the announcement of its beta edition DOGGYDAO.
With the breaking news, Shiba Inu (SHIB) continues to storm into the New Year. SHIB’s beta version of DOGGY DAO “is here” and will be released on January 3rd, according to the meme coin developers.
The move is part of Shiba Inu’s initial objective to work toward decentralization, and it intends to “communicate the capacity of community-oriented decisions in ways that can accelerate Shiba Inu’s growth,” according to the Shiba Inu team’s official blog post.
DOGGY DAO is a decentralized autonomous organization run and governed entirely by the SHIB community. It grants the SHIB community vote rights and governance authority over Shiba Inus.
According to the announcement, the Shiba Inu team is excited to introduce and share the first phase of DOGGY DAO, known as DAO 1. The community voting method will be the emphasis of DOGGY DAO’s initial phase or Beta edition.
The community must pick “which crypto projects and pairs will be on the ShibaSwap WOOF Pools, and how the $BONE prizes will be split amongst them,” according to the blog post.
The BONE token, which currently functions as the Shiba Inu ecosystem’s governance token, will allow the SHIB community to allocate their votes.
DOGGY DAO will be unveiled in stages. The newer version, DAO 2, will be released after DAO 1 has received the necessary community feedback and has been given the opportunity to witness the workflow.
The Shiba Inu community has recently made a DAO-related announcement. The creators of the popular meme token teased the crypto community with some big news coming in the first half of 2022.