BabyDoge Token Community Votes to Relinquish Contract Ownership

IconCryptoNewsTerminal Staff29 May, 2024

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BabyDoge Token Community Votes to Relinquish Contract Ownership

The BabyDoge community is currently engaged in a crucial governance vote on Snapshot, proposing to relinquish ownership of the token contract on both Ethereum (ETH) and BNB Chain (BNB). This move signifies a significant step towards decentralization within the project. According to the proposal, "in order to realize the true decentralization of the project, a token contract ownership renouncement is a much needed step." By passing this proposal, "the owner will no longer be able to make arbitrary changes to the smart contract, and the contract will operate autonomously with no external interference. This is also a security benefit as no single party will have control over the contract." At the time of writing, the proposal boasts a remarkable 92.51% approval rating, reflecting the community's overwhelming support for the initiative. If approved, this will be a bold declaration of BabyDoge's commitment to community governance and decentralized principles.

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