TL;DR

Shiba Inu is introducing its first-ever democratic process to appoint an interim president through a multi-phase election involving open nominations, debates, and final voting. Lead developer Shytoshi Kusama announced a shift toward community-led governance, encouraging SHIB whales to run for the position.

The Elections

Earlier this month, the popular meme coin project Shiba Inu celebrated its fifth birthday. Over the past half a decade, it underwent numerous developments, while Shytoshi Kusama unveiled the next one: the election of an interim president.

The lead developer said the appointment of such a figure will happen after fair elections, whereas the voting will go through three sessions. 

The first allows for anyone to be nominated, while the top 10 move onto the debate phase. Debates will take place LIVE or recorded on various platforms and times, while a secondary vote to find the top 3 will take place after one week, the announcement reads.

It is important to mention that anyone can nominate themselves for the position and will be required to create a profile to give the community some info about who they are. 

The final vote will take place one week after the debates between the three remaining candidates. The appointed president will be responsible for the well-being and future vision of the project and the proper execution of the Shib Paper guidelines.

They are to implement the first congress (consisting of the four DAO councils), which stands as the inter-branch DAO mentioned in the Shib Paper. Most importantly, they are responsible for the community of millions and the financial responsibility of a 7 billion dollar token, Kusama added.

According to the developer, the perfect candidate must combine technological prowess, unwavering dedication, and impeccable vision.

Last but not least, Kusama recommended that the president be a whale in the SHIB community (an investor who has substantial holdings of the meme coin). 

For this reason, I suggest a multi-vote system for this election where 1 token = 1 vote for any and all of the ecosystem tokens. In this way, whales should hypothetically win, which is aligned as they have the most skin in our success. Moreover, I implore the community to rigorously vet, check, and learn about all candidates, they advised.

What About Kusama?

The lead developer argued that they have been deemed responsible for completing Ryoshis vision. To the uninitiated, Ryoshi is the pseudonymous creator of Shiba Inu who hasnt revealed their identity. 

Kusama said their role now rests with the community, but said they will continue to post details on the election date and other updates.

We will continue working on innovation, and closely with the Treat Dao and strategies therein, and will continue pursuits outside of SHIB that align with our vision and often contribute to the ecosystem or DAOs. In this way, we continue as valued Shibizens of a system we helped build from nothing, the developer concluded.