Shiba Inu (SHIB) Doggy DAO Could Enter Its Next Phase Soon


Shiba Inu (SHIB) Doggy DAO Could Enter Its Next Phase Soon

Following the initial beta phase, it appears that additional work will be done on the Shiba Inu Doggy DAO after a few months of silence.

Shiba Inu's DAO went through two rounds of voting before giving ShibaSwap awards when it originally began. However, after the previous vote in March, no more votes have been held.

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However, after a post by Shiba Growth Breed member Milkshake, it appears that a re-focus on SHIB's Doggy DAO might be on the way as Phase 2 approaches.

Phase 2 of the Shiba Inu Doggy DAO

Milkshake requested the Twitter community for thoughts for new Doggy DAO categories in a tweet.

"After [the] beta phase release passes, we're working on formalizing new Doggy DAO categories for the community to vote on further areas," she added.

As a result, it appears that the Shiba team is currently looking into and contemplating other topics for the DAO to vote on. These would be in addition to the ShibaSwap pairs that it now promotes.

This corresponds to past comments on a blog article. The DAO 2 would "add additional complexity" and "be a mechanism that allows the community to submit generic suggestions to be reviewed," according to the document.

We already know that the DAO will play an important role in the Welly restaurant chain's future. Shiba Inu will earn 15% ownership of the fast-food franchise, according to Welly.

While the Doggy DAO is still in its test net phase, questions have been raised on the SHIB Discord's DAO channel about why no further votes have been held since March. Trophies, a member of the Defense Department, reacted to inquiries regarding the forthcoming vote on May 2 by saying:

Not just yet. It’s been a busy time with [Shiba Inu Lands] and a few other things getting prepped. Sorry for the silence.

Members of the ShibArmy must stake their tBONE toke in order to participate in the DAO. They will then be given bone and instructed on how to allocate votes.

There is still no word on when the Doggy DAO Phase 2 will be released. However, it appears that it is closer than ever following a few remarks from individuals close to the Shiba team.

Give the dog a tBONE

Users of ShibaSwap will be able to vote on which projects are featured with the introduction of DAO 1 by staking their BONE tokens to get tBONE, the staked version of the governance token. The more votes a project obtains, the higher its allocation points (AP), which represent the number of BONE awards allotted to the pool. A maximum of 30 couples will be executed based on community voting, with a new set of pairs chosen every two weeks.

Because this is a test launch, the ShibaSwap team will be soliciting input from the Shiba Inu community. "The first phase will technically be called a beta phase," Queenie added, "but it will be a lot more developed than what you would ordinarily consider a beta." "All we want is to collect input from the community so we can make sure things are proceeding as planned."

Through "enhanced use cases of BONE/tBONE tokens," a subsequent DAO 2 launch will bring "additional complexity" to the system. DAO 2 will allow community members to submit "generic suggestions," which will be examined by the ShibaSwap multisig team, according to Queenie.

Along with DAO 1, a new staking contract will be launched, requiring BONE to be locked up for a longer length of time before voting begins in order to reduce the effect of whales and exchanges on voting.

The statement appears to have had little impact on SHIB's price, which has risen by 1.7 percent in the last day but is down 11.3 percent in the last seven days due to the crypto market's post-Christmas collapse.

That hasn't hampered the ShibaSwap team's enthusiasm. They foreshadowed a "major surprise" coming shortly in their DAO announcement.

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