Shiba Inu becomes the latest chain to adopt a fully decentralized governance regime, returning power and ownership to the Shiba Army.
The highly anticipated ShibDAO went live yesterday on the Shiba Inu ecosystem, marking a new regime of governance. The ecosystem’s official X account confirmed the debut, as the project transitions from a mere meme coin to having one of the most advanced decentralized autonomous organization (DAO) structures in Web3.
The governance shift follows the launch of the Bury 2.0 staking model. For context, this governance-focused upgrade enables users to stake SHIB, LEASH, BONE, and TREAT for voting escrow (VE) power, which is used to participate in decision-making within the Shiba Inu ecosystem.
Fully Decentralized Shiba Inu
The ecosystem’s X account indicated that the ShibDAO marked the end of power centralization on Shiba Inu. Notably, this gives the community the right not just to contribute, but to propose, vote for, and decide the ecosystem’s roadmap.
Essentially, the Shiba Army can vote on practically any move within the ecosystem, including Shibarium upgrades, metaverse mechanisms, token utility changes, and major partnerships. Holders of any of the aforementioned SHIB native tokens can also leverage the charity and community council to drive social impact and community-driven innovations.
Voting and Voting Weight
At the moment, the Bury 2.0 upgrade does not have an active staking reward. The ecosystem’s developers plan to release staking tokenomics in the future, which will ensure holders earn passive rewards while participating in Shiba Inu’s growth.
Upon successfully staking SHIB, LEASH, or BONE on ShibaSwap using the Bury function, holders earn veSHIB, representing their voting power. The ecosystem clarified that the weight of one’s vote relies not only on how much one stakes but also on the lock-in period.
For context, the longer you stake your tokens, the more weight your VE carries. This does not in any way circumvent the importance of large stakes but aims to reward belief in the ecosystem. Remarkably, community members can also delegate their power to someone else to act on their behalf and can revoke it at will.
Customized DAOs for Community Factions
Meanwhile, the new governance system also allows the launch of sub-DAOs for specific community members. Users can claim a Shib Name (SNS) and launch their DAOs for select groups of artists, gamers, developers, and community-centric projects.
Furthermore, each token’s DAO has specific functions in the ecosystem. SHIB DAO manages community initiatives and activities, BONE DAO is responsible for voting on Shibarium enhancements and developer suggestions, LEASH DAO handles governance-related conflicts, and TREAT DAO supports innovation and the creation of decentralized applications.
The ShibDAO launch is part of the Shiba Inu team’s efforts to establish the ecosystem as a household name in the Web3 space. Interestingly, the team has teased that bigger innovations are still in the pipeline.
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