Community Decision: Shiba Inu Allocates 37.5 ETH for Development

The Shiba Inu community recently concluded a vote and agreed to put 37.5 Ethereum (ETH) into a new multisignature wallet, indicating a significant advancement in their decentralized autonomous organization (DAO) framework for managing funds and projects.

Preferences of the Shiba Inu Community

A vote was held with four choices on how to use the funds provided by Welly’s, a partner project. The most popular choice, which received 84.95% of the vote equating to 78 billion SHIB tokens, involved creating a multisig wallet controlled by selected signers, including key community figures.

Community Decision: Shiba Inu Allocates 37.5 Eth For Development

Choice 2, supporting the burning of 37.5 ETH to decrease the SHIB token supply, got 15.05% of the vote, while choices 3 and 4 had minimal support. Shytoshi Kusama detailed the rationale behind this fund management strategy, emphasizing the importance of aligning it with the long-term vision of the project.

Furthermore, plans were unveiled to transition from V1 to V2 of the Shib DAO, incorporating a Karma, Reputation, and Competency (KRC) system to enhance user data protection and ecosystem integrity, aimed at safeguarding against scams and creating a secure environment for all stakeholders.

Currently, the SHIB token is trading at $0.00001311.

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