After Shibu Inu, Floki Inu Next In Line To Transition Into A DAO

Floki Inu, a crypto birthed from the Shiba community and named after  Elon Musk’s pet, is now set to follow in the SHIB token’s footsteps by  transitioning into a Decentralized Autonomous Organization, or DAO for  short.

To preface this, DAO is a community-led entity with no central leadership, thereby promoting transparency and autonomy. This update seems to have been positively received by the community at  large, since Floki Inu’s price today reached $0.000074 USD, indicating a  6.18% rise in value in the last 24 hours.

They also told that this transition is set to start in a “phased” manner  from next week. The team will allegedly be providing us with updates on  the state of affairs in the process of transforming to a DAO as and  when the procedure formally begins.

On completing this transition, Floki will convert to a community driven  entity, where the Vikings community and associated members holding the  cryptocurrency, will be able to exercise power by voting on key issues  using their FLOKI token.

On it’s official thread, Floki Inu proclaimed that, “This phased  transition to a DAO makes FLOKI more decentralized and secure. It also  eases the process of FLOKI being listed on key exchanges.”

Based on reports from Crypto News, FLOKI’s team also reviewed the data  and information closely from several reliable sources and found that  several key industry players like Binance Coin (BNB), Kucoin, and The Giving DAO have already shifted their focus towards  DAO-related projects.

From their discussions with exchanges and key advisers, it’s concluded  that the move will help in ensuring “faster growth and adoption” for the cryptocurrency. 

The decision was also made by the team for achieving the objective of  expanding tradability on as many mainstream CEXs as possible, and was  apparently decided upon after having extensive consultations with these  CEXs and other expert advisors familiar with their inner workings.

Yellow Star
Yellow Star

After Shibu Inu, Floki Inu Next In Line To Transition Into A DAO