Shiba Inu Team to Launch DAO

Shiba Inu (SHIB) is set to launch a DAO, enabling meme token holders to vote on future initiatives. This was announced by the head of marketing, known as Lucie.

https://t.co/mj7SRzf6yi

— ????? (@LucieSHIB) August 24, 2024

“The transition [to DAO] will allow every owner, regardless of their stake size, to influence the community’s direction,” she commented.

The management of the decentralized organization will be entrusted to the “Charity Council” and the “Culture & Heritage Council.”

Tokens from the L2 solution Shibarium — BONE and LEASH — will also play a role in the DAO governance process. Holders of the first asset will prioritize expanding education and innovation, while the latter will focus on proposals related to inclusivity and transparency of the project.

SHIB did not react to the news. Over the past 24 hours, the token’s price has fallen by 0.7% in line with the broader market movement, according to CoinGecko.

Previously, Messari described meme coins as “the most extractive crypto phenomenon.”

Back in April, ForkLog reported on the emergence of fake accounts in Telegram posing as members of the Shiba Inu (SHIB) team.