As a seasoned crypto investor with over a decade of experience under my belt, I must admit that Shiba Inu has managed to pique my interest and keep me intrigued since its debut in 2020. The token’s rapid rise from an obscure meme coin to the 13th largest digital currency today is nothing short of astonishing – a testament to the power of community and the potential of this burgeoning industry.
Ever since it debuted in 2020, Shiba Inu has skyrocketed into global fame. Given that it initially had minimal functionality, the fact that it now outranks numerous top Layer-1 and 2 protocols as the 13th largest digital currency is quite surprising to many. Notably, SHIB is widely accepted by merchants all over the world, significantly enhancing its practical applications.
The Next Step: The DAO Governance
Although it has grown significantly so far, the community wants a greater role in shaping the development of Shiba Inu. As per Lucie, the project’s marketing head, this shift is imminent with the introduction of the DAO Governance system.
This outlines the genuine process for the decentralization of the protocol, allowing every SHIB owner a voice in its decision-making. As per Lucie’s explanation, when DAO Governance is activated, two distinct councils will manage Shiba Inu’s matters. These are the Charity Council and the Culture & Heritage Council.
1. The Humanitarian Initiatives will be handled by the Charity Council, while the Culture and Heritage Council will preserve the unique spirit of Shiba Inu. This Decentralized Autonomous Organization (DAO) governance endeavor aims to significantly boost SHIB‘s worth, enabling the platform to strengthen its identity as a community-focused project.
Despite the uncertainty surrounding when exactly the SHIB DAO Governance will be officially launched, the possibilities have sparked great excitement within the community.
Shiba Inu Set To Do More
Over the course of this year, Shiba Inu has consistently shown growth and development. More recently, they introduced a burn portal designed to gradually decrease the number of SHIB tokens in circulation. This deflationary mechanism was rolled out not long after the implementation of the Shibarium hard fork that occurred several months ago.
The aim of this protocol is to evolve from being a meme into a broad-spectrum project, comparable to any Layer 1 or 2 projects currently available. Over time, its development could potentially influence the value of its token. At present, the token is trading at $0.00001495, experiencing a slight decrease of 0.86% in the past 24 hours.
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2024-08-26 11:24