Floki Inu ($FLOKI) Completes Phase 1 of Its DAO Upgrade
On January 23, the team behind meme-based crypto project Floki Inu ($FLOKI), which is one of the strongest competitors to Shiba Inu ($SHIB), completed phase one of its decentralized autonomous organization (DAO) upgrade.
What Is Floki Inu ($FLOKI)?
The idea of creating this cryptocurrency was born on June 25 after Dogecoin ($DOGE) advocate Elon Musk tweeted that the name of his Shiba Inu dog would be “Floki”.
You can buy on $FLOKI on both centralized exchanges (such as Bitmart, LBank, Gate.io, and Poloniex) and decentralized exchanges.
The Floki Inu team says that some of the projects that will use the $FLOKI token are as follows:
Floki’s DAO Upgrade
On January 17, the Floki Inu team published a blog post to explain the purpose of upgrading its smart contract to support a future in which Floki is a DAO.
Here are the reasons the team gave for wanting to transition to a DAO:
In short, “this move is being made both out of necessity and to key into what is essentially the future of cryptocurrency” and it enables $FLOKI to get the adoption it needs to become a top cryptoasset.
Phase 1 of the DAO upgrade started on Saturday morning (UTC time) and it was completed on Sunday.
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