The Shiba Inu team announced the launch of an election process aimed at creating a fully decentralized digital state for the SHIB token ecosystem.
Election Process Structure
The election process will unfold in three phases: nomination, public debates, and final voting. Participants can run by creating verified profiles but must undergo KYC checks and sign a non-disclosure agreement.
Role of Interim President and DAO
The newly elected interim president and DAO members will oversee the management of Shiba Inu's digital infrastructure and decision-making regarding the multi-billion-dollar token economy. They will be elected annually through a 1-token-1-vote mechanism.
Economic Council and Its Initiatives
A proposal for forming an Economic Council under the Shib DAO is in place, focusing on long-term treasury management and sustainability initiatives.
Shiba Inu's election initiative is set to significantly alter the governance structure of the ecosystem and move the project closer to its goals of complete decentralization.
