Doggy DAO; Shiba Inu’s project launches

The Doggy DAO which was previously announced in December 2021 officially launches its first phase on ShibaSwap.
Doggy DAO; Shiba Inu’s project launches
Doggy DAO; Shiba Inu’s project launches

According to the project’s developers, the initial edition of DoggyDAO, a decentralized autonomous organization for members of the Shiba Inu community, went live on decentralized cryptocurrency market ShibaSwap on Friday.

#ShibArmy, we are happy to announce DOGGY DAO will be officially launched in the upcoming hours with our first phase DAO 1! 🐶 #DoggyDao brings community voting rights, while also accomplishing a closer path to our mission for decentralization.

Read..— Shib (@Shibtoken) February 18, 2022

Members of the community can now vote on which projects and trade pairs will be included in ShibaSwap’s WOOF liquidity pools. Before moving forward with a new version, the team will solicit community feedback following the launch of a new version.

Users of ShibaSwap will be able to vote using tBONE tokens, which may be obtained by staking the BONE governance token. Each voting session lasts five days and is then closed.

Every two weeks, the community will be able to choose new trading pairings. The liquidity pools will be expanded to include a total of 30 trading pairings.

The creators are advising the community to conduct due diligence before voting on any project to ensure that potentially dangerous cryptocurrencies do not wind up on ShibaSwap:

Once again, we ask you to please understand, while not ignoring risks that could be associated with an infant, unknown, unaudited, or potentially newer project. So please vote responsibly!

About Doggy DAO

DAO 1, the initiative’s first ve, was first unveiled in late December.

The “guardians 6/9 wallet” will have the last say on whether a project may be onboarded by ShibaSwap in order to avoid all kinds of scams.

The first edition of the DoggyDao project will include a new staking contract, which is intended to restrict the power of deep-pocketed whales by prolonging the lock-up period for BONE tokens, as previously revealed by the Shiba Inu developers.