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.
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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.
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FAQs
The SHIB election faces criticism as the Foundation retains veto power, sparking decentralization concerns. Critics accuse Kusama of centralized control and unfulfilled promises.
Critics cite lack of transparency, broken promises (100 validators, billion-user goal), and perceived self-dealing through projects like SHY and POE.
With the coming updates and strong community, Shiba Inu remains a strong candidate in the crypto world.
