Shibarium’s developers just revamped Shiba Inu’s Doggy DAO voting mechanism, securing the Layer-2 network from majority attacks. The new decentralized autonomous organization (DAO) consensus includes proposal creation without solely relying on Bone ShibaSwap (BONE) staking.
Doggy DAO Unleashes Three-Folded Voting Mode
This upgraded Doggy DAO framework empowers Shiba Inu’s (SHIB) community members to publish and cast their votes on proposals via ERC-20 token voting, meaning that the balance counts as voting power even if the digital assets are not staked. Additionally, SHIB Army members can pick quadratic voting.
In this fresh mode, additional voting power costs are raised exponentially, making it nearly impossible to overtake the majority of Doggy DAO’s voting power. Each governance proposal creator will be able to choose which strategy to apply to their offerings, gaining a more balanced way to shape SHIB’s DeFi future.
Next Shibarium Tweaks In Line With DeFi Vision
In the meantime, SHIB’s developers are working to bring an identity-based system for Doggy DAO, which would enable a one-vote-per-person rule. Pledged to bring Shiba Inu’s Layer-2 chain to 1 billion users worldwide, the devs are set to introduce a Layer-3 chain next year, backed by $12M from prominent names in the industry like Polygon Labs & Animoca.
The new chain will run on Shiba Inu’s Treat (TREAT), the freshest token in Shiba Inu’s (SHIB) ecosystem. Aside from TREAT, Bone ShibaSwap (BONE) & DogeKiller (LEASH) will serve different functions on-chain. In the case of TREAT, it’s a reward token for Web3 activities, which is already available on a few major crypto platforms, including MEXC, Bitget & Gate.
Ultimately, this refined Doggy DAO governance model aligns with the broader Web3 trend of digital identity, introducing a coherent way to build up on-chain reputation. Shibarium’s Karma points system, a previously announced key feature, sets the precedent for this to build trustworthy partnerships between reputable Web3 entities amidst a pandemic of imposters.
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People Also Ask:
The Doggy DAO is a decentralized autonomous organization that allows Shiba Inu (SHIB) community members, or “Shibizens,” to vote on governance decisions, such as funding projects and protocol updates, to ensure community-driven control.
The Doggy DAO now offers three voting methods: staking-based voting (locking tokens for voting power), ERC-20 token voting (using token balances without staking), and quadratic voting (increasing costs for additional votes to limit whale influence). An identity-based voting model is also in development.
Quadratic voting makes it exponentially costlier for large token holders (whales) to dominate decisions, while ERC-20 voting lowers barriers for smaller holders by not requiring staking. The upcoming identity-based model aims for one-person-one-vote equality.
These models enhance decentralization, empower smaller token holders, and align with Web3 governance trends, supporting initiatives like Shibarium upgrades and token burns to strengthen the ecosystem’s growth and fairness.
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