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Shiba Inu Token Developer Develops Stablecoin
How to Avoid FOMO and FUD in the Crypto Market The lead developer behind the popular cryptocurrency coin meme Shiba Inu on Wednesday, July 6, 2022 unveiled plans to expand the Shiba Inu ecosystem with a decentralized stablecoin, a reward token called TREAT, and a collection of card games for its metaverse.
In a Medium blog post, Shiba Inu developer pseudonym Shytoshi Kusama said an “independent developer” is creating a decentralized stablecoin called SHI. However, it is not yet known what the stablecoin system will be like Terra USD or the Tether stablecoin.
The team hopes to share more information as SHI nears its final form, and plans to launch it later in late 2022, the blog post said.
TREAT, the SHIB metaverse reward token is also coming to the Shiba Inu ecosystem, the token will later be linked to the Shiba Collectible Card Game. The token will also “help put a balance on” the Shiba Inu stablecoin, the blog post said without explaining how it works.
Shiba inu is the second most popular dog-themed cryptocurrency after dogecoin (DOGE). SHIB garnered a huge following during the latest boom in the crypto world.
Shiba Inu launched in August 2020, and subsequently launched the decentralized exchange ShibaSwap, and the BONE and LEASH ecosystem tokens, with further plans to expand the meme coin into a crypto ecosystem.
The Shiba Inu token traded flat after the news, but jumped nearly 50 percent in the week.
As part of the plans, developers are working on their own ecosystem layer 2 protocol called Shibarium that will support the deployment and development of native applications, including a gas token called BONE.
The team separately built a metaverse project with 100,000 plots of land as virtual real estate. The Shiba Inu Collectible Card Game, which is currently in development, will be in the Shiba metaverse.