Shiba Inu Unveils Plans to Launch a Decentralized Autonomous Organization (DAO)

The team behind Shiba Inu, the popular memecoin, has unveiled plans to launch a decentralized autonomous organization (DAO) to give token holders a voice in the project's future direction.

Shiba Inu is setting up a decentralized autonomous organization (DAO) to give token holders a say in the project’s future direction.

The move comes as Shiba Inu, initially launched as a memecoin, has grown to become the 13th largest cryptocurrency by market capitalization.

The DAO will feature two main councils: the Charity Council and the Culture & Heritage Council. These councils will oversee community initiatives ranging from charitable outreach to preserving Shiba Inu’s unique culture.

Other tokens in the SHIB ecosystem will also play a role in the DAO. BONE token holders will focus on education and innovation proposals, while LEASH holders will address issues of inclusivity and transparency.

The DAO is part of a broader effort by the Shiba Inu team to expand the token’s utility. Major developments include the launch of Shibarium, a Layer-2 scaling solution, and plans for a Layer-3 blockchain incorporating advanced cryptography.

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