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In the second half of 2021, localized autonomous organizations (DAOs) are taking off in large numbers, airdropping tokens, and formulating governance systems for specific areas. 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 deliver a lot of power to Shiba Inu users.

Shiba Inu project announces Doggy DAO

In terms of capital, shiba inu (SHIB), the second largest encrypted cultural token, has announced the launch of “Doggy DAO” to reward SHIB users. The SHIB development team stated that the project has been aiming at “striving to decentralize”. Cultural tokens have become the focus of attention this year. The exchange rate against the U.S. dollar has risen by 43,685,107% in 12 months, and they have been listed on various encrypted platforms, further gaining recognition from merchants.

On January 1, 2022, SHIB has been exchanging costs between $0.00003282 and $0.00003450 at 24-hour intervals. SHIB has risen by 8.1% in the past period of time, while in the past 7 days, SHIB has fallen by 7.6%. SHIB’s market valuation is $18.5 billion, which represents 0.79% of Saturday’s $2.3 trillion crypto economy. The cultural currency Dogecoin (DOGE) is the only cryptocurrency cultural market with a scale exceeding SHIB’s USD 22.7 billion. The SHIB team pointed out in Friday’s announcement:

[The] Diggy DAO was released during the phased measurement and phased approach. This enables the community to grasp the needs and necessities of the project, while also planning the opportunities the system will bring to our community.

Shiba Inu’s DAO provides “direct power” to the community

The first part of the Dog DAO can “make an immediate decision for the community that cryptocurrency appears and paired on the Shibaswap filled pool, and how the $BONE reward (distribution point) is distributed among them,” the journal article explains. The governance system can use $tBONE for voting and $BONE for pledge.

The SHIB team said: “This could be a critical start to position our localized exchange for growth, while at the same time boosting all the advantages of #Shibarmy from these pairs, as well as hospitable new investors using the platform.”

Doggy DAO follows a series of localized autonomous organizations mentioned in the cryptocurrency house last week. Recently, digital currency advocates are further discussing the introduction of Opendao and the introduction of Gas DAO. Although each of these DAOs is immature, the SHIB team-and the community known as “Shibarmy”-has been around for a long time.


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