The Doggy DAO was launched by the SHIB development team. A “true decentralized ecosystem,” as the document calls it, depends on the SHIB Decentralized Autonomous Organization (DAO).
The Shiba Inu Roadmap continues to develop, and the Doggy DAO is another initiative that will contribute to the expansion of the SHIB ecosystem. Here is what we know about the Doggy DAO, which will increase the ShibArmy’s power.
SHIB Doggy DAO: The Basics
The Shiba Inu community (the ShibArmy) controls the decentralized SHIB Doggy DAO, which will have an impact on SHIB’s future.
Doggy DAO members utilize this as a governance token to vote on proposals, and it is powered by the BONE token. The WoofPaper stated, “The more BONE you hold, the more weight your vote carries in these future endeavors.” To obtain tBONE for these votes, users must stake their BONE.
Members of the Doggy DAO can also vote on potential ShibaSwap pairings using tBONE. However, according to the Shiba team, 50% of the allotted BONE would remain with the Locked Pairs for the platform’s health.
The community is not the only one with the power to make decisions, though. ShibaSwap listings are subject to nine “Guardian Wallets”‘ final approval. They claim this is done “to key on the factor of someone truly gaming the system.”
While the Doggy DAO faced criticism for choosing SHIB over BONE, the leader of the Shiba project, Shytoshi Kusama, defended the use of BONE since it prevents huge exchanges or whales from dominating the DAO.