Today marks a significant change to the Shiba Inu ecosystem following the launch of ShibDAO, a new system that gives power to the community by design.
As announced on X by Shiba Inu Updates, this move is an important step towards decentralization, where decisions are made by those who support SHIB and not behind closed doors.
With the launch of the DAO, the ecosystem becomes more transparent and fairer for everyone. Hence, ShibDAO introduced a few key features.
There's on-chain staking that allows holders of SHIB, BONE, LEASH, and TREAT to lock up their tokens for a specific period. The longer they stake their tokens, the more voting power they get.
This means that those who show commitment to the project for a long period will have a greater say regarding decisions in the ecosystem.
Simplifying participation in governance
Off-chain voting through the Snapshot platform is another feature. Through this platform, users can make proposals and vote on them without paying huge gas fees.
Real-time data from the staking system helps determine the votes on Snapshot, making it easier for more people to take part in any voting process. ShibDAO also offers a delegation system for those who don’t have the time to vote on every proposal.
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These people can pass their voting power to someone they trust to vote for them. This provides a simple way to be involved in the decisions in the ecosystem without being active at all times. This makes the system more easy to use for newcomers or busy persons.
ShibDAO features enable a decentralized future
In addition, the innovative platform introduces a DAO factory, making it easier for people to create their own decentralized organizations. It is powered by the Shiba Name Service (SNS), which lets anyone claim a Shiba name.
This simple process opens the doors to various creative and impactful projects. There are several DAOs already up and running, but each has its unique focus.
The Bone DAO's focus is on shaping the future of Shibarium through votes on development proposals and upgrades. The Leash DAO helps with resolving conflicts. The True DAO promotes innovation by funding the development of decentralized applications (dApps) and other new ideas.
The good news is that this system is fully operational and no longer a concept. Users can lock up their tokens to participate in staking since it's live. Also, anyone can submit or vote on proposals that are open already.
The availability of these tools is a significant step forward for decentralized governance on the SHIB ecosystem.
