😱🫨Baby Doge Community Accepts Offer to Abandon Token Contract on Ethereum and BNB Chain
#BABYDOGE successfully accepted an offer to relinquish ownership of the Baby Doge token contract on both Ethereum (#ETH ) and Binance Smart Chain (#BNB Chain).
Originally proposed on May 29, the proposal was overwhelmingly approved by the community and marks an important step towards increasing decentralization and community trust.
A total of 848 trillion votes were cast for the proposal; 99.53 percent of the votes were in favor and only 0.47 percent were against.
Purposes and Rationale
The main objectives of the proposal are to increase decentralization, security and community trust. According to Baby Doge's official statement, the ownership relinquishment aims to align with the true ethos of decentralized finance (DeFi).
Decentralization: Relinquishing ownership ensures that no single organization has control over the token contract, which is in line with DeFi principles.
Security: By relinquishing ownership, the risk of potential administrator abuse or malicious activity is significantly reduced. This reportedly increases the overall security of the Baby Doge ecosystem.
Communication plan
The BabyDoge team aims to inform the community throughout the process through official channels such as Twitter, Discord and Telegram. Regular updates will be provided to ensure transparency and understanding in accordance with the reports.
The full waiver process is expected to take approximately 1-2 weeks, including verification and community communication. The BabyDoge team has already abandoned the BabyDoge token contract on Ethereum!
The primary risk with this disclaimer is its accuracy. Once ownership is relinquished, no further changes can be made to the contract.
