Following the footprints of its competitor Shiba Inu (SHIB) token, Floki Inu (FLOKI) also decided to begin a gradual and phased transition to a DAO (Decentralized Autonomous Organization).
This phased transition to a DAO will make FLOKI more decentralized and secure, ensuring faster growth and adoption. The team called this move “a transformational moment” for FLOKI and its community.
The team would gradually implement the transition in a “phased” manner. The process is set to begin towards the end of this new week, and the team will reportedly come up with further updates during the week as the transition process begins.
Upon completion of the transition, Vikings will be given the power to vote on critical issues using their FLOKI token.
#FLOKI TO BEGIN PHASED TRANSITION TO A DAO FOR FASTER ADOPTION AND GROWTH
After extensive discussions with key and strategic advisors, as well as after review of data and information from several reliable sources, $FLOKI will begin a gradual and phased transition to a DAO. pic.twitter.com/b91wKXkWFC
— Floki Inu (@RealFlokiInu) January 9, 2022
The statement comes after Floki Inu’s team went into extensive discussions with its key and strategic advisors. During the debate, it was emphasized that Floki must become more decentralized, as this is one of the critical things needed to ensure mainstream adoption for the token in 2022 and beyond.
Before the announcement, FLOKI’s team also closely reviewed the data and information from several reliable sources. The team found that several key industry players like Binance Coin (BNB), the third biggest cryptocurrency globally, Kucoin, one of the world’s biggest exchanges, and The Giving DAO have already shifted their focus towards DAO-related projects.
This data clearly sent a message to FLOKI’s team that, “DAO” is now a defined trend, and FLOKI would definitely not want to miss the ride, as they were always intended to be a DAO.
ITobe a DAO, FLOKI’s team knew that they would need to ensure mainstream adoption, which will become possible only if FLOKI is listed on as many mainstream CEXs as possible. Therefore, they began to ask its Twitter followers to sign the petitions created on change.org for the listing of FLOKI on all major exchanges like Binance, Coinbase, Kraken, Crypto.com, etc.