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Shiba Inu Project Reveals ‘Doggy DAO,’ Devs Say Phase 1 to Provide ‘Immediate Power to the SHIB Army’ – Altcoins Bitcoin News

In late 2021, Decentralized Autonomous Organizations (DAOs) popped out of woodwork in large numbers, airdropping tokens and creating governance systems for specific projects. Just before December 31st, the end of the year, the developers of the Shiba Inu cryptographic protocol announced the launch of “Doggy DAO” to give more power to Shiba Inu users.

Shiba Inu Project Announces Doggy DAO

The second largest cryptomeme token by market capitalization, Shiba Inu (SHIB), Have announcement Launch of “Doggy DAO” to reward SHIB users. The SHIB development team states that the project has always focused on “decentralization efforts”. Meme tokens have been in the limelight this year, raising 43,685,107% against the US dollar in 12 months. Listed Collected on numerous crypto platforms Acceptance of merchants..

The Shiba Inu project reveals
SHIB / USD on January 1, 2022 via FTX.

January 1, 2022, SHIB It has been redeemed for prices between $ 0.00003282 and $ 0.00003450 within 24 hours. SHIB has increased by 8.1% in the last two weeks, while SHIB has decreased by 7.6% in the last seven days. SHIB’s market capitalization of $ 18.5 billion is equivalent to 0.79% of Saturday’s $ 2.3 trillion crypto economy. Meme coin Doge coin (DOGE) is SHIBIs $ 22.7 billion. The announcement from the SHIB team on Friday said:

[The] Doggy DAO is released with a step-by-step metric and a step-by-step approach. This allows the community to understand the needs and requirements of the project, paying attention to the potential this ecosystem brings to the community.

DAO of Shiba Inu that provides “immediate power to the community”

Doggy DAO Phase 1 is “an immediate force for the community to determine which crypto projects in the Shibaswap WOOF pool to pair with and how to distribute $ BONE rewards (allocation points) among them.” Provide. .. The governance system uses $ tBONE for voting and $ BONE for staking.

“This is an important first step to grow the decentralized Exchange while at the same time promoting all the benefits from such a pair to #Shibarmy and welcome new investors to use the platform. ” SHIB The team says.

Doggy DAO follows a number of decentralized autonomy organizations discussed in cryptospace last week. Proponents of digital currencies Opendao airdrop When Gas DAO airdrop Recently too. Neither of these DAOs has been established, but the SHIB team (and the community called “Shibarmy”) has been around for quite some time.

Tags for this story

Altcoin, Cryptocurrency, DAO, DAO, Digital assets, Doge, Dogecoin, Doggy DAO, Doggy DAO Phase 1, gain, market, Meme token, Meme token, price, Shiba Inu, SHIB Army, SHIB DAO, Shiba Inu, Shiva swap, Uhu pool

What do you think of SHIB’s Doggy DAO? Please let us know what you think about this subject in the comments section below.

Jamie Redman

Jamie Redman is a news leader in Bitcoin.com News and a financial technology journalist living in Florida. Redman has been an active member of the crypto community since 2011. He is passionate about Bitcoin, open source code and decentralized applications. Since September 2015, Redman has written over 5,000 articles on Bitcoin.com News about the disruptive protocols emerging today.

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