A Shiba Inu community member, Mike S, has recently pointed out a seemingly dangerous aspect of the Shiba Inu decentralized government that empowers holders of just “ONE SHIB” to vote on vital community proposals.
As one of the top cryptocurrencies in the market, SHIB is pivotal to the success of the ambitious Shibarium layer-2 network and the upcoming Shiba Inu State. In lieu of recent events, including the publishing of the ShibPaper, Lucie, the marketing lead for Shiba Inu shared a quote from the released document, which raised concerns among community members.
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In her post on X, she underscored the importance of SHIB as the guiding light and beacon of the grand experiment and the critical role it would play.
The New Role of SHIB
Lucie began by highlighting SHIB as one of the greatest currencies in the history of mankind, pointing out how it had grown by 15 million percent over its lifetime. SHIB is the “core” of the new ecosystem being built and this post seemed to resonate deeply with the community.
Th ShibPaper also introduced a new role for SHIB within the ecosystem’s governance. This new role is about acting as the voice of the Shibizens, the Shiba Inu community members, when making decisions.
The first chapter of the ShibPaper states that SHIB was established as one of the governance tokens in the proposed Shiba Inu State. Chapter Two took this further by giving the community a glimpse into the new democratic governance structure that would give power to every Shibizen.
To exercise their voting rights, the citizens of the Shiba Inu State would need to possess 1 SHIB in their wallets. Anyone who did could contribute to key decision-making, giving the power over Shiba Inu’s future to its holders. However, someone seems to have pointed out a flaw in this plan.
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A Dangerous Flaw?
In response to Lucie’s post, Mike S, a supposed Shiba Inu community member, pointed out that this system could potentially open the door to malicious actors. He said all they have to do is distribute 1 SHIB across a large number of wallets. This vote manipulation would let them lead the ecosystem in directions that might not favor the community and would only serve their interests.
Mike S noted, “@LucieSHIB serious question: don’t you think allowing holders of just 1 Shib to vote is enabling malicious actors? They can distribute small amounts of Shib into many wallets, then vote in a way that is not the best for the ecosystem.”
Since its launch in 2020, SHIB’s trajectory has been nothing but astonishing. As they are about to enter a new era, it will be interesting to see how they address this potential issue.
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