Last year was a year full of actions in for the cryptocurrency market starting from the launching of the US feature based Bitcoin ETF ending with the NFT sale which worth about $70 million. However, the year ended with a bitter-sweet taste as Bitcoin dipped to lower than $48$ to eventually set on the $41K price with an unstable situation, this dip gave Shiba Inu fans and investors a reason to happily celebrate.
Shiba Inu devs have announced the official launch of what is called “Doggy DAO 1” in a post. Read more [SHIB Devs Officially Announce The First Doggy DAO Phase]. Which is basically a protocol which will be released in two phases, it also would “broadcast the capacity of community-oriented decisions, in ways that can accelerate the growth of Shiba Inu”.
DAO phase 1 is mainly focused on providing power to the SHIBA community to simply decide the crypto project that will be on the ShibaSwap WOOD as well as how the allocation points or what is called $BONE will be distributed.
While the phase 2 pf DAO which is DAO 2 will be allowing the community to create generic proposals in order to be reviewed by both Breeds and Multisig-Team.
Decentralized Autonomous Organizations DAO have bean around for several years, but never been popular to the mass till the ConstitutionDAO gained what is worth of $45 million in order to buy a copy of the US constituition.
Correspondingly, Doggy DAO will be performing as a bridge between the both the community of it and the project, which will definitly enhance the vision of Shiba Inu of community building within a decentralized space.