The Developers Behind Shiba Inu Tees Launch New Stablecoin, Bounty Token

Shiotoshi Kusama, the lead developer behind Shiba Inu (SHIB), announced a new update for the Meme Coin community, announcing plans to launch one. stable currency For the SHIB ecosystem, a reward token, and a collectible card game for its metaverse.

Kusama teased the launch of an experimental stablecoin protocol, SHI, acknowledging an existing “concern following the collapse of other stablecoins and being completely wiped out of the market worth billions of dollars”.

If everything goes according to plan, the SHI stablecoin will launch earlier this year, the developer said.

“We have seen independent development from a group of developers in our decentralized network. They have introduced a version of SHI that seems to avoid the issues found in other moons,” Kusama said in May of Terra’s UST stablecoin. Wrote alluding to the dramatic fall.

Shiba is also planning to expand its network with a new reward token called Inu Treat.

According to the blog post, Treat has been “quietly in design” and will have wider application across the Shiba Inu ecosystem, including the project’s Metaverse project and the upcoming Shiba Collective card game, which has been hailed as “the best collectible card game on the planet”. has been described.

Kusama didn’t provide additional details, which is being developed by Playside and Shiba Games, saying it deserves a separate blog post that will come at a later stage.

The lead developer of Shiba Inu said that the TREAT token will “help provide balance” to the SHI stablecoin.

Shiba Inu community takes aim at Metaverse

The developer update also includes updates on the progress of Shiberium—the project’s layer-2 solution that will allow users and developers to build new applications on existing blockchain infrastructure.

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According to Kusama, the project “brought on a host of new developers we met last year to help us with the UX/UI and to help us redesign our web portals to complement this project.” “

“As of now, everything is still on track, and we can move as fast as we can to fulfill this core component in our ecosystem,” he said.

However, the public beta launch date for Shiberium is yet to be decided.

Described as “an experiment in decentralized intuitive community building,” Shiba Inu was created by a pseudonymous developer under the pseudonym Ryoshi and launched in August 2020.

Unlike another popular meme cryptocurrency dogecoinWhich runs on its own blockchain, Shiba Inu is an ERC-20 token created EthereumWhich means it is also subject to the development decisions of the network.

With a market cap of over $5.7 billion, the Shiba Inu is currently the 14th largest cryptocurrency in the world.

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