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In the second half of 2021, a large number of decentralized autonomous organizations (DAOs) will emerge, airdrop tokens and create governance systems for specific projects. Just before the end of the year, on December 31, the developers behind the Shiba Inu encryption protocol announced the launch of “Doggy DAO” to give Shiba Inu users more power.
Shiba Inu project announces Doggy DAO
In terms of market capitalization, the second largest cryptocurrency memetic token, Shiba Inu (SHIB), Owns Announce Launched “Doggy DAO” to reward SHIB users. The SHIB development team stated that the project has been focused on “striving to achieve decentralization.” The meme token has become the focus of attention this year. In 12 months, the exchange rate against the U.S. dollar has risen by 43,685,107%. Listed On many encryption platforms, as well as collecting Merchant acceptance.
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On January 1, 2022, SHIB/USD passed FTX.
January 1, 2022, SHIB The price between 0.00003282 USD and 0.00003450 USD has been exchanged within 24 hours. Although SHIB has risen by 8.1% in the past two weeks, SHIB has fallen by 7.6% in the past 7 days. SHIB’s market valuation is $18.5 billion, which represents 0.79% of Saturday’s $2.3 trillion crypto economy.The meme coin Dogecoin (DOGE) is the only one greater than SHIBThere are 22.7 billion U.S. dollars. The SHIB team pointed out in Friday’s announcement:
[The] Doggy DAO will be released in a phased indicator and phased manner. This enables the community to understand the needs and requirements of the project, while also paying attention to the possibilities this ecosystem brings to our community.
Shiba Inu’s DAO provides “direct power” to the community
The first phase of Doggy DAO will provide “community with direct power to determine the encryption projects and pairings on the Shibaswap WOOF pool, and how to distribute $BONE rewards (distribution points) among them,” the blog post explains. The governance system will use $ tBONE votes and uses $BONE to pledge.
“This is a crucial first step to guide the development of our decentralized exchange, while promoting all the benefits of #Shibarmy from these pairs, and welcome new investors to use the platform,” SHIB The team said.
Doggy DAO follows a series of decentralized autonomous organizations discussed in the crypto field last week.Digital currency advocates have been talking about Opendao airdrop and Gas DAO airdrop This is also true recently. Although these two DAOs are immature, the SHIB team-and the community known as “Shibarmy”-has been around for a long time.
What do you think of SHIB’s Doggy DAO? Please tell us your thoughts on this topic in the comments section below.
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