DOGGY DAO Governance Protocol Launching ShibaSwap SHIB DEX | Vote On WOOF Pools With BONE Token

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Doggy DAO ShibaSwap

Shiba Inu (SHIB), the popular meme crypto project, is planning to launch its own decentralized autonomous organization (DAO).

According to a new blog post by Shiba Inu developers, DOGGY DAO, SHIB’s new governance protocol, will be released in two phases.

The first phase, set to launch soon, will feature provisions for users to decide which crypto projects and trading pairs will be included on ShibaSwap, SHIB’s decentralized exchange (DEX).

DAO 1 is focused on providing immediate power to the community in order to decide which crypto projects and pairs on the ShibaSwap WOOF Pools will be and how the BONE rewards (allocation points) are to be distributed amongst them.

The ShibaSwap protocol uses BONE as its governance token. Its staked version, tBONE, will be used for voting within DOGGY DAO.

“In order to cast a vote to list projects, users must stake their BONE (to get tBONE), also distributing their amount of choice to weigh-in and provide to that very pair. The more they weigh in, the more votes a project achieves, the more added pairing (AP) it will have.

What happens next? On the following Monday, after launch, APs and pairs will be determined depending on the results of the voting process…

The executed pairs will be showcased for a period of 14 days, and their APs will remain there until the next voting occurs and finishes. The week, before the expiry date, voting will begin once again. A batch of new pairs or rewards will be decided and selected by the community.”

In the second phase of the DAO, users will be able to submit generic proposals for consideration.

Via this site


Chris Munch

Chris Munch is a professional cryptocurrency and blockchain writer with a background in software businesses, and has been involved in marketing within the cryptocurrency space. With a passion for innovation, Chris brings a unique and insightful perspective to the world of crypto and blockchain. Chris has a deep understanding of the economic, psychological, marketing and financial forces that drive the crypto market, and has made a number of accurate calls of major shifts in market trends. He is constantly researching and studying the latest trends and technologies, ensuring that he is always up-to-date on the latest developments in the industry. Chris’ writing is characterized by his ability to explain complex concepts in a clear and concise manner, making it accessible to a wide audience of readers.

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