Will This Move By The Makers Dethrone Shiba Inu’s Legacy Amongst Meme Coins?
The meme coin community has grown folds in the past 12-months. The crypto sphere is now home to a host of meme coins. The year has seen astounding growth metrics of meme coins. The top tier meme coins DogeCoin and Shiba Inu are up 3653.4% and 44474172.3% in the past 365 days. While DogeCoin has been stuck in a rut, Shiba Inu has been sprawling in terms of utility and developmental initiatives.
The Doge-killer Shiba Inu is all set to welcome a host of new updates to its protocol, with the start of 2022. In a recent announcement from the makers, it has come to light that the protocol will be DOGGY DAO. Which will be a major boost towards decentralization. In another update NOW Payments is all set to enable an optional SHIB to burn feature for merchants by early 2022.
Is SHIB All Set To Wag Its Tail?
In a recent blog update, the makers behind the canine-based coin Shiba Inu have brought light on DOGGY DAO. Which will be the firms move towards decentralization. DOGGY DAO will be released in phases, in a stage-by-stage metric. The initiative will allow the community to fathom the needs and requirements of the project. Whilst also ministering the possibilities the ecosystem brings for the community.
The move aims for a smooth transition, uncompromised security, balanced, and stability in both the project side and final user experience. The first phase of DOGGY DAO is “DAO 1”, a Beta program. DAO 1 empowers the community to determine the crypto projects and pairs on the ShibaSwap WOOF Pools. And how the BONE rewards are to be distributed amongst them.
The DAO 1 will be a crucial step in aligning the platform’s DEX to grow while infusing the perks to the Shib cavalry. Such as pairs and welcoming new investors to use the platform. Community voting will be an imperative factor in developments with WOOF Pools. The next phase would invite DAO 2, which will enable the community to make generic proposals to be considered or reviewed by the Multisig team and Breeds. The initiative is set to roll out shortly.
What’s More In The Shib Store?
The recent AMA session saw a host of announcements which included, BONE being employed for gas fees in Shibarium. Shiba Net undergoing an audit, Multiple phases of DOGGY DAO. ShibaSwap V2 portal, and Shiba Inu games which will be a host to two different games. The team will be live with another AMA session with Watcher Guru.
NOW Payments is set to add a SHIB burn feature for merchants by early 2022. The payments platform will be burning SHIB and LEASH tokens. The firm will be burning 3% of its profits in SHIB and LEASH. Which justifies the firm’s belief in Shiba Inu and mass adoption.
Collectively, the developmental initiatives coupled with the escalating count of adoptions, and the robust community. Have been helping SHIB part way from being titled as a meme coin. The growing utility has been influxing traffic and developmental initiatives in the case of the Doge-killer. Hopefully, SHIB re-initiates its bullish chase in the first quarter of 2022.Source