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Shiba Inu lead developer Shytoshi Kusama expresses optimism about TREAT’s potential to accelerate the transformation of memecoins into utility tokens.
The Shiba Inu lead developer expressed this view today during an exchange with Simon Dedic, CEO of blockchain advisory and investment firm Moonrock Capital.
In an X post yesterday, Dedic pointed out that memecoins are slowly transforming into “fundamentally strong utility tokens.” Amid this evolution, he suggested that this shift might continue in the coming months, leading to a complete transformation of the memecoin market.
Kusama Reacts
Interestingly, Dedic’s comment triggered a reaction from Kusama, who indicated that the transformation of memecoins to utility tokens is moving at a slower pace. Nonetheless, he expressed optimism that Shiba Inu ecosystem tokens, especially TREAT, are accelerating this shift.
He emphasized that the upcoming TREAT token would combine its meme trait with its governance utility, potentially convincing wise investors about memecoins’ transformation to utility tokens.
Too slow in my opinion. But happy #TREAT as both meme and governing utility alongside the rest of the Shib Ecosystem is leading this shift in mindset for the wise. https://t.co/3gSLjMYEj9
— Shytoshi Kusama™ (@ShytoshiKusama) October 31, 2024
Shiba Inu Team Issues Fresh Warning About TREAT
Kusama’s post about TREAT’s utility comes a few hours after he joined other Shiba Inu ecosystem team members to warn the general public that the token has not yet launched.
According to Kusama, all existing TREAT tokens in the crypto market are nothing but ‘tricks.’
This suggests that the Shiba Inu ecosystem team has yet to launch the authentic TREAT token for public use. Hence, crypto investors should be vigilant and avoid trading or investing in any existing TREAT token until the official launch.
In a follow-up post, Shiba Inu marketing lead, Lucie, issued a similar warning about the yet-to-be-released TREAT. She asserted that all TREAT imitations available in the market are not the ‘real deal.’
Lucie noted that while some investors may deliberately acquire the fake TREAT tokens, referred to as knock-offs, the team does not want unsuspecting investors to invest in the fake asset unknowingly.
In the meantime, she urged potential investors to join the “Treats for Shib” community on X and ask the moderators anything relating to the token.
The Shiba Inu ecosystem team has yet to set a date for the public release of TREAT. Upon its public launch, TREAT will serve as the official reward token for the Shiba Inu ecosystem. Specifically, people who stake SHIB on ShibaSwap decentralized exchange earn TREAT in return.
Furthermore, TREAT would function as the official gas token of Shiba Inu’s upcoming Layer-3 privacy blockchain and serve as a governance token in SHIB DAO. These features will boost its utility within the ecosystem.