ShibDAO launched on May 29th in the Shiba Inu ecosystem, marking a new governance mode. The ecosystem’s official social media account on X confirmed the debut as the project transitions from a simple memecoin to one of the most advanced decentralized autonomous organization (DAO) structures in Web3. The governance change follows the launch of the Bury 2.0 staking model. The upgrade allows users to stake SHIB, LEASH, BONE, and TREAT for voting escrow (VE) power that is used to make decisions in the Shiba Inu ecosystem.
ShibDAO marks the end of centralized power on Shiba Inu. It gives the community the power to not only contribute, but also propose, vote, and determine the ecosystem’s roadmap. The community can vote on almost any move in the ecosystem, including Shibarium upgrades, metaverse mechanisms, token utility changes, and major partnerships.
Currently, the Bury 2.0 upgrade does not have an active staking reward. The ecosystem developers plan to release a staking tokenomics in the future that will provide holders with passive rewards for participating in the growth of Shiba Inu. After successfully staking SHIB, LEASH or BONE on ShibaSwap using the Bury feature, holders earn veSHIB, which represents voting power. The ecosystem explained that the voting weight depends not only on the stake size, but also on the lock-in period.
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