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Shib Army Marches on’ as Shytoshi Kusama Shares Updates on Shiba Inu

Altcoins

coinquora.com 06 July 2022 15:25, UTC
  
Reading time: ~2 m

Shytoshi Kusama, the lead developer of the Shiba Inu ecosystem, shared key updates on the meme coin’s metaverse project. Kusama teased the Shib community in a cryptic tweet two days before dropping more details.

Kusama reiterated that the focus of Shiba Inu’s developers is to fulfill Ryoshi’s plan for the ecosystem. Ryoshi had proposed the layer-2 scaling solution Shibarium before his mysterious disappearance.

Shiba Inu’s developers are working on the launch of Shibarium, with a release date not being announced yet. Shibarium is a key component that would empower cheaper transactions for projects in the Shiba Inu ecosystem. Kusama revealed that a host of new developers have joined the Shiba Inu ecosystem and are working on redesigning the UX/UI. xFUND and SHIB developers will soon decide on a date for Public Beta and launch the project.

After the colossal crash of Terra’s USDT and de-pegging of Tron’s USDD, Shiba Inu developers are careful with their stablecoin SHI. Kusama believes that the latest version of SHI seems to avoid the issues that were found in other moonshots and the stablecoin can be used to counter and balance payments without market fluctuations.

Shiba Inu is on the path to becoming further decentralized with the development of Shibarium, SHI, and the metaverse.

TREAT will serve as the rewards token for the community after BONE’s mint is capped for validator rewards. Kusama assured the ShibArmy that the metaverse is under development and the team is growing consistently. However, there is no launch date yet, and there will be another announcement that follows soon.

The key price levels to watch out for are $0.00001070, $0.00001098, and $0.00001198 on the upside and $0.00000977 and $0.00000957 on the downside.

SHIB-USDT Price Chart (Source: TradingView)

Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CQ. No information in this article should be interpreted as investment advice. CQ encourages all users to do their own research before investing in cryptocurrencies.


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