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Shiba Inu (SHIB) Announces Stablecoin and New Reward Token


beincrypto.com 08 July 2022 02:15, UTC
Reading time: ~2 m

The Shiba Inu (SHIB) ecosystem will soon get its own stablecoin, rewards token, and collectible card game.

Shytoshi Kusama, lead developer of the meme coin ecosystem, announced the new projects via a blog post. In addition to a stablecoin of its own and a new token, the Shiba Inu ecosystem will soon feature a new collectible card game destined for its future metaverse.

SHI and TREAT details

The developer commented that recent events involving the stablecoin segment, which became in crisis after the collapse of TerraUSD (UST), motivated the Shiba Inu community to have its own stablecoin.

Named SHI, Shiba Inu’s future stablecoin would be able to “avoid the problems found” in other assets in this category, having been independently created by “a group of developers in our decentralized network,” according to Kusama.

Shiba Inu and TREAT

TREAT, a new reward token intended for the SHIB community, will be applied to the entire project ecosystem, including its future metaverse, Shibarium. The asset would still play a crucial role in the card game in development, Shiba Collectible Card Game, and in providing stability for SHI.

So far, other details about the tokens and the new card set have not been revealed, and it is not possible to set a date for their release. However Kusama commented that if all goes well, the stablecoin would be released later this year.

Shiba Inu Metaverse Under Construction

The leader of Shiba Inu also brought updates on the future metaverse of the meme coin. Referring to the Shibarium, Kusama said:

“As of now, everything is still on track and we are moving as quickly as possible to complete this key component of our ecosystem.”

He adds that the project brought in “a number of new developers that we met in the last year to help us with the UX/UI and redesign of our web portals to complement this project.”

However, the release date for the metaverse beta phase, which will be open to the public, remains undisclosed.

At the close of the story, SHIB was trading at $0.000011, up 8% in the last 24 hours. Despite this, the asset has accumulated a devaluation of 87% in relation to its historical maximum price, made in October last year. In that month alone, the token soared over 1,000%, making it one of the cryptocurrencies that experienced the greatest appreciation in 2021.

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