Big Announcement from Shiba Inu: Launch of DoggyDAO! - News-Credit-Mortgage-Coin


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Friday, February 18, 2022

Big Announcement from Shiba Inu: Launch of DoggyDAO!


Shiba Inu (SHIB) developers announced the launch of “Doggy DAO”. DAO 1, the first iteration of the decentralized autonomous organization of Shiba Inu (SHIB), went live on the ShibaSwap decentralized exchange.

Important announcement from Shiba Inu (SHIB)

The first version of DoggyDAO, a decentralized autonomous organization for members of the Shiba Inu community, launched the decentralized cryptocurrency exchange ShibaSwap this Friday, according to an announcement shared by the developers of the project. The announcement reads exactly as follows:

#ShibArmy, we are happy to announce that DOGGY DAO will officially launch in the coming hours with our first phase, DAO 1! #DoggyDao follows a path closer to our mission of decentralization while bringing community voting rights. Read.. Shib (@Shibtoken) February 18, 2022.

From now on, community members will be able to vote on which specific projects and trading pairs will become part of ShibaSwap's WOOF liquidity pools. Following the release of a new version, the team will gather community feedback before moving on to a new version. ShibaSwap users will be able to cast their votes with the help of BONE tokens, which can be obtained by staking the BONE governance token. Each voting session will run for five days before closing. The community will be able to select new trading pairs every two weeks. A total of 30 trading pairs will be added to the liquidity pools. Developers urge the community to do their research before voting on any project to ensure that particularly risky cryptocurrencies won't end up on ShibaSwap:

Once again, we ask that you understand, without ignoring, the risks that may be associated with an unknown, unaudited or potentially newer project. So please vote responsibly!

The first iteration of the initiative, DAO 1, was first announced in late December. To prevent any kind of scam, the “protective 6/9 wallet” will have the final say on whether a particular project can be accepted by ShibaSwap. As previously announced by Shiba Inu developers, the first iteration of the DoggyDao project will come together with a new staking contract that is expected to reduce the impact of deep-pocketed whales by extending the lock time of BONE tokens.

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