Close Menu
AsiaTokenFundAsiaTokenFund
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
What's Hot

$1,000 in Ozak AI Now Equal to $1 Million by 2026? How is it

August 7, 2025

Dogecoin, Shiba Inu Continue To Underperform As The Crypto Market Eyes Its Next 100x Memecoin

August 7, 2025

Trump to Sign Executive Order for Bitcoin in 401(k) Plans

August 7, 2025
Facebook X (Twitter) Instagram
Facebook X (Twitter) YouTube LinkedIn
AsiaTokenFundAsiaTokenFund
ATF Capital
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
AsiaTokenFundAsiaTokenFund

Shiba Inu Coin Holders Revolt, Say “We Don’t Need an Incompetent President”

0
By on August 7, 2025 Altcoin, Bitcoin, Regulations, Trading, Web3
Share
Facebook Twitter LinkedIn Pinterest Email

The post Shiba Inu Coin Holders Revolt, Say “We Don’t Need an Incompetent President” appeared first on Coinpedia Fintech News

As Shiba Inu enters its fifth year, what was meant to be a milestone in decentralized governance has quickly turned into a referendum on leadership. 

With the launch of SHIB’s first-ever community election, lead developer Shytoshi Kusama unveiled plans to appoint an interim president to steer the $7 billion token ecosystem. 

But the announcement has reignited internal tensions, as major community voices accuse Kusama of poor leadership, lack of transparency, and centralized control, deepening the cracks in the SHIB network’s foundation.

A Step Toward Decentralization or Just Optics?

Kusama’s August 5 post announcing the election painted it as a milestone in decentralization. He emphasized that the process would empower the community, with candidates submitting profiles, facing a live debate, and being elected by token-weighted votes using SHIB, BONE, TREAT, or LEASH.

Moreover, there is a catch here, as the Shiba Inu Foundation will still hold veto power over the outcome. That, for many, doesn’t feel like true decentralization, and some feel like controlled democracy.

“We Don’t Need an Incompetent President”

One of the most vocal critics has been WoofSwap, a SHIB ecosystem project. In a post that quickly gained traction, they called for leadership with actual ability, not just visibility.

“We don’t need an incompetent president,” they wrote. “I don’t mind leaders who profit, but I do mind those who can’t deliver and bleed the community dry.”

They compared Kusama’s leadership unfavorably to that of controversial figures like Justin Sun, arguing that while Sun had flaws, at least he knew how to steer a project forward.

The Community Wants Clarity

Other longtime supporters, like Shiba Germany, echoed the sentiment, pointing to broken promises and forgotten milestones, such as the activation of 100 validators or the billion-user onboarding goal. They’re urging a return to Ryoshi’s original vision of transparency, decentralization, and shared responsibility.

Also Read :   Crypto Market Today: BTC and ETH Remain Strong Amid Global Tensions and Institutional Buying   ,

Behind the scenes, resentment has also grown over Kusama’s ties to projects like SHY and POE, ventures some believe benefit insiders more than the broader ecosystem.

How the Elections Will Work

The criticism sparked by the election process that will unfold in three phases. First, open nominations will allow any community member to apply. From there, the top 10 nominees will enter a debate phase, with live or recorded sessions across platforms. A second vote will narrow the candidates to three finalists.

The final vote, held one week after the debates, will determine the interim president. Candidates must complete a Know Your Customer (KYC) process and sign a Non-Disclosure Agreement. Although community voting is central, the foundation reserves veto rights over candidates deemed unfit.

Kusama proposed a 1-token = 1-vote system to ensure fairness, which may naturally favor whales, those with the most at stake in Shib’s success.

Never Miss a Beat in the Crypto World!

Stay ahead with breaking news, expert analysis, and real-time updates on the latest trends in Bitcoin, altcoins, DeFi, NFTs, and more.

Share. Facebook Twitter Pinterest LinkedIn Tumblr Email

Related Posts

$1,000 in Ozak AI Now Equal to $1 Million by 2026? How is it

August 7, 2025

Dogecoin, Shiba Inu Continue To Underperform As The Crypto Market Eyes Its Next 100x Memecoin

August 7, 2025

Trump to Sign Executive Order for Bitcoin in 401(k) Plans

August 7, 2025
Leave A Reply Cancel Reply

What's New Here!

$1,000 in Ozak AI Now Equal to $1 Million by 2026? How is it

August 7, 2025

Dogecoin, Shiba Inu Continue To Underperform As The Crypto Market Eyes Its Next 100x Memecoin

August 7, 2025

Trump to Sign Executive Order for Bitcoin in 401(k) Plans

August 7, 2025

Investors Ditch Solana (SOL) and Cardano (ADA) – Remittix (RTX) Capitalizes On The Shift In Sentiment

August 7, 2025
AsiaTokenFund
Facebook X (Twitter) LinkedIn YouTube
  • Home
  • Crypto News
    • Bitcoin
    • Altcoin
  • Web3
    • Blockchain
  • Trading
  • Regulations
    • Scams
  • Submit Article
  • Contact Us
  • Terms of Use
    • Privacy Policy
    • DMCA
© 2025 asiatokenfund.com - All Rights Reserved!

Type above and press Enter to search. Press Esc to cancel.

Ad Blocker Enabled!
Ad Blocker Enabled!
Our website is made possible by displaying online advertisements to our visitors. Please support us by disabling your Ad Blocker.