- FLOKI Inu plans to move to a decentralized autonomous organization, making the network more secure.
- This will be a phased transition to DAO starting later this week.
While meme coins have been out of the news for a while, FLOKI Inu is making the news again. Following in the footsteps of his older brother Shiba Inu (SHIB), FLOKI Inu announced a gradual transition to a decentralized autonomous organization (DAO).
The official announcement was made by the FLOKI Inu team on Sunday, January 9th. In one of the Twitter messages, the team write:
FLOKI WILL BEGIN THE TRANSITION TO DAO FOR ADOPTION AND EARLY GROWTH After extensive discussions with key strategic advisors, and a review of data and information from various trusted sources, $ FLOKI will begin a gradual and phased transition to DAO .
The team also described it as a moment of transformation for FLOKI and the public. In addition, the gradual transition will make FLOKI more decentralized and secure. This will ultimately lead to faster growth and adoption, as has been said.
The FLOKI Inu team has stated that they will gradually move. The transition process will begin later this week. The team has stated that they will release additional updates as the phase transition begins. As the move is completed, the Vikings will gain extra power to vote on critical issues using their FLOKI signals.
Even Binance is close to the DAO structure
The FLOKI team made the decision to move to DAO structure after several inquiries from reliable sources. Other major players have already adopted a similar structure. For example, the third largest cryptocurrency in the world, Binance Coin (BNB), has also approached the DAO structure.
In addition, KuCoin, one of the largest exchanges in the world, also expressed interest in adopting a DAO structure. This clearly shows that DAO is the new trend now defined. So FLOKI Inu is taking all possible steps to take DAO.
Kimbal Musk, the philanthropist and brother of Elon Musk, also embraced the DAO trend. In an effort to decentralize philanthropy, Kimbal Musk is also launching The Giving DAO. The notice further notes:
FLOKI has always intended to be a DAO, and this move is a combination of time (necessary given the need to be more decentralized to encourage adoption and be central to a major defined trend), as well. well work towards the realization of one of the first objectives of $ FLOKI.
Despite this announcement, FLOKI Inu has dropped by almost 10% in the last 24 hours. FLOKI price is constantly slipping amid general market correction.