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SHIB-affiliated X account @Shibizens has announced that the SHIB team has introduced an important new update, which will give the Shiba Inu community more say in the governance over Shibarium and the Shiba Inu network in general.
Meanwhile, Shiba Inu and the SHIB army are celebrating the second anniversary of the Shibarium launch, which took place in August 2023.
Multiple voting choices upgrade rolled out
The X post published by the aforementioned account says that the update had come from Shib Doggy DAO (decentralized autonomous organization). Those users and developers who will create proposals to be voted for in the future can now choose one of three voting methods.
Number one is about staking: the more tokens they lock, the more voting power they gain. The second one is called “ERC-20 token voting”; users can vote with tokens, transferring them directly from their wallets without having to stake them. The third one is “quadratic voting.” It limits whale dominance by raising the cost of extra votes.
There is also a fourth option, but it is currently in development and will enable one-person-one-vote. Users can vote using four main Shibarium tokens — SHIB, LEASH, BONE and TREAT.
Shibarium's 2nd birthday
Shibarium was rolled out during the annual ETH Toronto event, which took place in Canada in August, and it featured Shytoshi Kusama’s first public speech, made via an AI tool. After that, Shibarium was launched.
However, due to a high flow of traffic, the network collapsed, and it had to be restarted with the help of the Polygon team, which came to the rescue. That launch transferred Shiba Inu from the rank of meme coin into a league of serious cryptocurrencies. Another fact contributing to that was that SHIB was one of the official sponsors of ETH Toronto that year.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team