TL;DR
Shiba Inu (SHIB) is moving toward greater decentralization by launching a DAO.
The anonymous developers of the meme coin announced they will step back by the end of 2024, handing full control over to the community to further empower decentralized governance.
Shia Inu’s Next Step
The popular meme coin – Shiba Inu (SHIB) – was launched four years ago as an experimental community-driven cryptocurrency. The project was inspired by the popularity of Dogecoin (DOGE) and aimed to build upon the concept of a decentralized token.
LUCIE (Shibarium’s Marketing Strategist) recently revealed another step toward that goal. Specifically, the team is getting ready to launch a DAO (Decentralized Autonomous Organization).
“This transition will empower every holder, regardless of the size of their stake, to have a say in the community’s direction,” the announcement reads.
LUCIE added that the DAO is yet to be implemented and its introduction would give “Shibizens” further control over decisions that impact the ecosystem.
The Marketing Strategist also revealed that the team will launch a designated governance structure anchored by two key councils: Charity Council and Culture & Heritage Council:
“These councils will steer community initiatives, from charitable outreach to preserving the unique culture that defines Shib. With a focus on transparency and inclusivity, these efforts ensure that Shib’s growth remains true to the values that have driven it from the start.”
More Control for the Community by the End of 2024
Last week, two of the anonymous developers of Shiba Inu using the nicknames Shytoshi Kusama and Kaal Dhairya dislcosed that they will step back by the end of the year and hand full control over to the community.
Kusama said this move aligns with their vision for true decentralization in the cryptocurrency space. The development is not about abandoning the project but rather “empowering the community even more than they already have.”
While Shiba Inu is decentralized in terms of its governance and ecosystem, the actual level of decentralization can depend on how actively the community engages in development activities. If a significant portion of the SHIB Army (the collective term depicting SHIB investors, supporters, and traders) remains inactive, decision-making may become concentrated among a smaller, more engaged group of participants.
Additionally, the developers said they will not reveal their identities, arguing that the power of the meme coin is based on its devoted community and not on just a few individuals.
“There’s no need for my face to become a public figure. Let the mask remain famous. The power of SHIB is not because of me or because of Kaal, it is because of the community. And that is what is most important: the technology to take Web 2 to Web 3 and the brand of a very special dog breed that has gone viral many times as a meme,” Kusama said.
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