The main purpose of the DAO is to transfer project management into the hands of cryptocurrency owners

​Shiba Inu prepares to launch DAO

05.01.2022 - 07:45

282

2 min

What’s new? The official Twitter account of the Shiba Inu cryptocurrency has published news about the imminent launch of a decentralized autonomous organization (DAO).

“Shiba Inu is launching the Doggy DAO to give enthusiasts voting power over crypto projects,” the meme-token representatives said.

How will the process take place? According to the announced plans, the DAO launch will take place in two phases. The first will start as early as January 2022, it will allow the community to vote for projects that will participate in the distribution of prizes on the ShibaSwap WOOL Pools platform.

The second phase involves allowing users to submit their own projects and proposals for the community’s consideration. These measures are intended to increase the decentralization of Shiba Inu and remove the project from the influence of large cryptocurrency owners.

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