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Shiba Inu's Lead Dev Announces SHI Stablecoin Launch in 2022, Says It Will Work on Experimental Protocol

source-logo  u.today 06 July 2022 07:16, UTC

One of the main developers and mouthpieces of the Shiba Inu project, Shytoshi Kusama, has once again emerged and revealed several insights concerning both the future of Shiba Inu and its side branches. Among other things, the developer assured the Shib army of his commitment to the plan of Ryoshi, the anonymous creator of Shiba Inu, who some time ago deleted himself from all social media accounts and disappeared.

The first subject of Shytoshi's post was Shibarium, Shiba Inu's Layer 2 solution. The developer confirmed the information published earlier by X-Fund about the progress of the work and pointed out the intensified work on the interface and the usability of Shibarium. Although a public beta testing date has not yet been set, work on the blockchain is proceeding as planned, the developer noted.

Further on in his post, Shytoshi gave an update on Shiba Inu's SHI stablecoin. According to the developer, the recent crash and de-pegging of some stablecoins like UST and USDN has caused concern. However, there is hope that such problems with SHI can be avoided by using its own independent experimental decentralized protocol. More information will be available later, but if there are no obstacles, SHI should be released as early as 2022.

The developer further apologized for the delay in working on SHIB Metaverse, explaining that the release date should not have been published in the first place. According to Shytoshi, announcements will be made as soon as possible, and he also mentioned additions to the project team, which should make SHIB Metaverse a AAA-level project.

No tricks, only TREAT

Shiba Inu is expanding its network with a new token, TREAT. Announced in the same post, TREAT will have wide application across the spectrum of the Shiba Inu ecosystem. For example, it is a reward token in Shibarium, SHIB Metaverse, the Shiba Collectible Card Game and a balance provider for SHI. The list is not final and will probably change, which Shytoshi attributes to a reluctance to rush and release an unfinished product.