Lawrence Damilola
The Shiba Inu community is locked in a high-stakes DAO vote over the fate of 37.5 ETH, with most SHIB holders voting down the proposal to burn the funds. As the clock ticks down on this critical decision, Shytoshi Kusama has called for participation, urging the community to take control of the future direction of the project and ensure transparency in how resources are managed.
The Shib Army has until Wednesday to vote on one of four options for managing these funds. Choice 1 suggests moving the funds into a new multisig wallet controlled by five key community members, including Kusama, LC, GOSSIP Shib, Kaal Dhairya, and another signer selected through a DAO vote.
The other options in the vote are to burn the funds into SHIB, allocate them to community projects chosen by the wallet holder without further voting, or allow the wallet owner to retain the funds to cease actions considered harmful to the Shiba Inu ecosystem. According to the vote’s instructions, the execution of the winning option will be carried out by Sept. 30, 2024.
The SHIB Army largely voted down the option to burn the 37.5 ETH. Although it secured the second-highest number of votes, it didn’t gain enough support to surpass the leading choice.
Kusama said the signers would have “one vote and are only authorized to use the funds as the DAO sees fit.” The proposal outlines that the community will participate in a secondary vote to determine the specific use of these funds, and the chosen signers will execute the decision without influence over the outcome.
The voting process aims to provide transparency and accountability in handling community resources. Kusama noted, “We will use current AND past work of our future SHIBIZENS to create this KRC,” referring to a planned Karma and Reputation system that will contribute to decision-making processes in the DAO. He added, “Yes, you are now in the driver’s seat,” encouraging community members to participate actively in shaping the future of the Shiba Inu ecosystem.
Kusama, who has been vocal about the importance of this vote, has urged community members to use their voices. “I need you to vote #ShibArmy,” he tweeted, calling for active participation
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Lawrence does not hold any crypto asset. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Magazine and The Shib Daily are the official media and publications of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
