Shiba Inu Launches A Beta Of ‘Doggy DAO’ To Bring Power To The Community

Shiba Inu announced the launch for a beta version of a new decentralized autonomous organization (DAO) to provide users more authority to decide on crypto projects and pairs on the ShibaSwap platform.

According to a blog post, Doggy Dao will be released in a “stage-by-stage” metric and phased approach. The first phase called “DAO 1″ will be implemented within the the coming few days.

According to the post, “DAO 1, is focused on providing immediate power to the community in order to decide which crypto projects and pairs on the ShibaSwap WOOF Pools will be, and how the $BONE rewards (Allocation Points) are to be distributed amongst them.”

The Dao will introduce $tBONE (the staked form of $BONE) for voting rights, which is a new staking contract, to lock $BONE for a longer period of time before voting begins.

According to the post, after the first phase is complete, using community feedback, Shiba Inu will release a newer version, called “DAO 2,” to allow the community to make generic proposals for consideration or review by a “Multisig-Team, and Breeds.”

Shiba Inu noted that to avoid possible whales controlling the voting process, the ‘guardians (6/9 wallet)’ would have the final call to whether the pair should be listed, or not so in order to review the process to key in the factor of someone truly gaming the system.

On December 22, SHIB’s price spiked after whales added to existing positions, with one wallet buying nearly $134 million of the token.