Decentralized autonomous organizations have helped evolve the blockchain revolution. Accordingly, more companies have adopted this way of governance for crypto-based projects. The latest cryptocurrency to start transitioning to this format is FLOKI, a fast-growing crypto company that’s on the verge of becoming the next blockchain project to hit moonshot levels and beyond.
After working extensively with many strategic advisors and consultants and reviewing relevant data to develop growth decisions, the company behind the rising coin will gradually transition to a decentralized autonomous organization set up or DAO. These governance structures give more power to its community by giving voting rights and a decentralized leadership structure to democratize pivotal conversations.
FLOKI is a fast-growing cryptocurrency that has been on holders’ and investors’ radars over the last several months. Currently, it now has a fully diluted market cap of $620,000,000. The company is behind the dog-themed coin known as Floki Inu. Despite that, the founding team refers to their product as a “movement” more than a meme-coin, as it looks to revolutionize the whole category altogether.
After pinning down the need for more decentralized decision-making to emphasize the transition to a fully decentralized system, the company has made the announcement. The move also looks to ease the processes of listing FLOKI on critical exchanges in the network. This big announcement comes after Binance (BNB) also published its decision to move closer to a DAO structure. “FLOKI is embracing the future of crypto and is ready to be the major player we’ve always intended to be,” adds a company representative. “Giving the power to the Vikings and letting you have more of an input in key decisions. In essence, once the transition is fully completed, our community will be able to vote on key issues with your FLOKI token.”
“This phased transition to a DAO makes FLOKI more decentralized and secure,” shares one company representative. “Data and indications show clearly that being a DAO is the way forward.” However, the company has emphasized that the movement towards a decentralized structure will come in gradual phasing. The company understands that marketing, development, and further functionality roll-outs will depend highly on governance and seeks to ensure that operations continue as smoothly as possible. The transition will begin as early as the end of this week and carry on for several months until complete decentralization happens on the company and coin’s governance structures.
FLOKI made headlines for publicizing three flagship utility projects, including an NFT gaming metaverse that it’s calling Valhalla, a merchandise marketplace called FlokiPlaces, and content and education platform entitled Floki University. These projects will be significantly influenced by the company’s decision to take on a DAO structure. By adding more decentralization to its structures, FLOKI hopes to accelerate growth, adoption, and innovation for many years to come.
More news and announcements will come over the next few weeks as the company adapts to this new structure. The transition, the founding team reiterates, will take some time but will be crucial to reaching its goal of enriching its community of investors and building more project longevity. Learn more about Floki by visiting its website.