Gushiken Yona
In a surprising move towards radical decentralization, the pseudonymous leaders behind Shiba Inu, Shytoshi Kusama and Kaal Dhairya, have announced their intention to hand over control of the project to the community by the end of 2024.
The announcement came during a rare interview where both developers appeared masked and with modulated voices, further solidifying their commitment to anonymity. Kusama emphasized that the strength of Shiba Inu lies not in individual figureheads, but in its vibrant community.
“There’s no need for my face to become a public figure,” Kusama stated. “Let the mask remain famous. The power of SHIB is not because of me or because of Kaal, it is because of the community.”
This move marks a significant step in the evolution of Shiba Inu, which has grown from a meme coin experiment into a major player in the cryptocurrency space with a market cap exceeding $8 billion. The project has already implemented decentralized governance and ecosystem features, but the developers believe that true decentralization requires relinquishing their own control.
Dhairya explained that maintaining anonymity allows them to better connect with the community and receive “true, honest feedback,” free from the influence of personality cults. This approach aligns with the core principles of decentralization that underpin the cryptocurrency movement.
Handing over the reins to the SHIB Army, as the project’s community is affectionately known, represents a bold experiment in decentralized governance. It remains to be seen how this transition will be structured and what specific mechanisms will be implemented to ensure fair and effective community decision-making.
However, the success of this endeavor hinges on the active participation of the SHIB Army. If a significant portion of the community remains passive, decision-making power could become concentrated within a smaller, more engaged group.
The developers view this transition not as an abandonment of the project, but rather as an “empowerment” of the community. By stepping back, Kusama and Dhairya aim to create a truly decentralized ecosystem where the SHIB Army collectively guides the future of Shiba Inu.
This move could set a precedent for other cryptocurrency projects grappling with the balance between centralized leadership and community-driven governance. Whether Shiba Inu’s grand experiment in decentralization succeeds or not, it is sure to be closely watched by the entire crypto space.
Shiba Inu (SHIB) experienced a minor price increase on Monday, defying the overall downward trend in the cryptocurrency market. As of 11:47 p.m. ET, SHIB was trading at $0.00001367, up by 0.56% for the day.
Despite this short-term gain, SHIB’s price remains volatile. Over the past seven days, the coin has seen a 1.48% decline, and its 30-day performance shows a 24.12% increase.
Data from CoinMarketCap, Shiba Inu’s market capitalization reached $8,061,137,235, a 0.53% rise from the previous day. The circulating supply of SHIB remains at 589,270,344,163,600 coins.
Read more
- Shiba Inu Army Marches On: Over 1.4 Million Holders Strong
- Shiba Inu ‘Heavy Bullishness’ Imminent, Poised to Climb Over 498%, Says Crypto Trader
- Shiba Inu’s Shytoshi Kusama: BONE is Indispensable for Future Growth
Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication 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.
