Shiba Inu (SHIB) to Launch Decentralized Stablecoin and Reward Token

The Shiba Inu Memecoin (SHIB) continues to expand its ecosystem. After a decentralized exchange platform, it will have a decentralized stablecoin, as well as a reward token. Zoom on these novelties.

A decentralized stablecoin at Shiba Inu

It was the pseudonymous developer Shytoshi Kusama who revealed this information in a blog post. He welcomes advances in the Shiba ecosystem :

“A year ago today, we launched Shibaswap after months of FUD […]. LOL! We proved the fudders completely wrong, we advanced our token into the top 15 of ALL tokens in less than a year. »

And Shiba intends to continue its momentum, progressing beyond a memecoin status. With several projects in the pipeline, including a decentralized stablecoin. Baptized “SHI”, we do not yet know on what mechanisms it will be based, but Shytoshi Kusama confirms that it is above all a question of avoiding the pitfall in which Terra’s UST has fallen:

“Needless to say, we are concerned about the Shi after seeing other stablecoins crash and billions of dollars completely vanish from the market. […] For Shi, we have set up an independent development by a group of developers from our decentralized network. »

He clarifies that so far, this stablecoin “seems to avoid” the problems that have rocked assets of this type lately. However, he insists on the fact this is an experimental project.

👉 To go further – Stablecoin, all about this type of cryptocurrency

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The TREAT: a reward token

Shytoshi Kusama also announces 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 has indeed voted for the BONE token to be distributed only to validators and processes existing within Shibarium, the layer 2 Shiba Inu creation course.

For the rest of the community, the TREAT token was therefore created. In addition to rewarding users, it will have other uses:

“[Le TREAT] will enable rewards for the metaverse, and the blockchain version of the Shiba Trading Card Game, it will also have the role of balancing the Shi! »

The end goal of Shiba Inu is clear: total decentralization. It is clear that the ecosystem has developed projects that go well beyond the memes in recent months. Will he be able to achieve his ambitions? That remains to be seen in the next few years.

👉 Read also – Circle’s EUROC stablecoin comes to Bitpanda Pro

Source: Shytoshi Kusama via Medium

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