The Shiba Inu memecoin (SHIB) continues to expand its ecosystem. After a decentralized exchange platform, it is going to get a decentralized stablecoin, as well as a reward token.
A decentralized stablecoin at Shiba Inu
The pseudonymous developer Shytoshi Kusama revealed this information in a blog post. He is pleased with the progress of the Shiba ecosystem:
“One year ago today, we launched Shibaswap after months of FUD […]. LOL! We proved the ‘fudders’ completely wrong, we moved our token into the top 15 of ALL tokens in less than a year.”
And Shiba plans to keep the momentum going, advancing beyond a memecoin status. With several projects in the works, including a decentralized stablecoin. Named “SHI”, it is not yet known what mechanisms it will rely on, but Shytoshi Kusama confirms that it is primarily to avoid the pitfall into which the UST of Terra fell:
“Needless to say, we are concerned about the Shi after seeing other stable tokens collapse and billions of dollars vanish from the market altogether. […] For Shi, we have set up independent development by a group of developers from our decentralized network.”
He says that so far, this stablecoin “seems to avoid” the problems that have rocked assets of this type in recent times. He insists, however, that this is an experimental project.
The TREAT: a reward token
Shytoshi Kusama also announced that Shib Inu will offer a reward token: the TREAT. The arrival of this asset was partly motivated by a recent change. The Shiba community voted to distribute the BONE token only to validators and processes within Shibarium, Shiba Inu’s layer 2 creation course.
For the rest of the community, the TREAT token was created. In addition to rewarding users, it will have other uses:
“[The TREAT] will allow rewards for the metaverse, and the blockchain version of the Shiba trading card game, it will also have the role of balancing the Shi!”
Shiba Inu’s ultimate goal is clear: total decentralization. It’s clear that the ecosystem has taken on projects that go far beyond memes in recent months. Will it succeed in reaching its ambitions?
