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- The SHIB team has hinted at open elections for an interim president, allowing any community member to nominate themselves.
- Lead developer Shytoshi Kusama proposes a token-based voting system, giving more influence to large SHIB holders.
Shiba Inu (SHIB), the second-largest memecoin, is making headlines again. This time, it is not about price swings or new listings. The team behind SHIB has announced plans to elect an interim president, a move that comes as the project marks its fifth anniversary. Many in the community are asking if this change is needed or if it could hurt the token’s future.
Open Nominations Kick Off Unusual Election Process for SHIB
SHIB’s lead developer, Shytoshi Kusama, shared details about the election. As noted in our recent report, this update comes after another developer, Kaal Dhairya, encouraged the community members. He said that they need to learn to govern and combat internal division to gain momentum again.
Meanwhile, according to Kusama, anyone can put their name forward to become the interim president. This first stage is open to all, and those interested must create a public profile. This helps voters know who they are and what they stand for.
After the nomination phase, the top ten names will be picked. These ten will take part in public debates. Some will be live, while others will be recorded and shared online. The debates will run for a week. Once done, the community will vote again to pick the top three.
A final vote will take place after another round of debates. The winner then becomes the interim president, with the job coming with big duties. The elected official will look after the project’s progress and make sure it stays true to the original SHIB Paper. The President will also help set up the project’s first congress. The leaders will include four DAO councils and serve as part of the project’s decision-making body.
While this development unfolds, the SHIB price has also been in the news in reaction to the update. CNF reported in our previous news brief that CoinCodex predicted SHIB could climb to around $0.000017 in August, a 38% increase from current levels. As of writing, MarketCap data shows that the SHIB price was trading at $0.00001264, up by 4.58%.
Lead Developer Says SHIB Whales Should Lead the Way
Shytoshi Kusama made it clear that this role is not for just anyone. The ideal person must understand how things work in the space, care about SHIB, and be able to lead.
He added that it would be best if the president were already a large SHIB holder, also called a whale. These holders, he said, have more to lose or gain and will act in the best interest of the token. The potential whale SHIB buyups are beneficial and may help erase one zero from the token’s price.
To support this idea, he suggested a voting system where each SHIB token counts as one vote. This means those with more SHIB have more say in the outcome.
Kusama also shared that he will still be around. He plans to keep working behind the scenes and update the community as needed. For now, all eyes are on the upcoming election and what it could mean for SHIB.
In related news, CNF reported in July that SHIB members were advancing on a vote that focuses on how best to use BONE gas fees. They were considering the options of burning SHIB tokens or splitting contributions based on price conditions. The coming days will explain more about how this will be carried out.
