Shiba Inu Launches DAO as Developers Investigate Past Carpet Pulls

Shiba Inu has rolled out ShibDAO and a new staking system to advance decentralization and empower user governance. Shiba Inu’s Shibarium development group is investigating previous carpet pulls allegedly managed by bad actors within its ecosystem. The probe follows growing unease over how certain projects are using the Shibarium network while weakening its credibility.

Shibarium Examines Internal Carpet Pulls

On May 31, Davinci.Shib, a core contributor to Shibarium, announced the effort on the social media platform X. According to him, specific entities within the network have been benefiting from the system while discrediting it. These groups operate under a veil of criticism while extracting value from the infrastructure they undermine.

We are examining previous rugs linked to certain groups within Shibarium. Mocking Shibarium, yet still feeding off it – parasites linger. – Davinci.Shib

Sam Boolman | Crypto Enthusiast and Writer

Sam Boolman is a contributing writer at ChainIntel.org with a long-standing interest in cryptocurrency, blockchain technology, and emerging financial trends. A self-directed trader who actively invests his own capital, Sam follows the markets closely and brings a hands-on perspective to the fast-paced world of crypto journalism. With a background in business and digital media, Sam has written across a variety of sectors including tech, startups, and online finance. His curiosity and enthusiasm for the evolving digital economy fuel his exploration of Web3, decentralised finance, and market developments. Sam is passionate about making complex topics more accessible to everyday readers and continues to expand his knowledge through research, trading experience, and industry engagement.

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