SHIB Developers To Launch New Stablecoin And Reward Token

SHIB developers tease launch of a new stablecoin as well as a reward token, aiming for an expansion of the ecosystem as we can see more today in our latest altcoin news.

The lead developer behind Shiba Inu Shytoshi Kusama announced a new update for the meme coin and announced plans to launch a stablecoin for the SHIB Ecosystem as well as a reward token and a collectible card game. Admitting the concerns after watching other stable tokens crash and billions of dollars being wiped off the market, the SHIB developers tease the launch of the experimental stablecoin protocol. If everything goes well, the SHI stablecoin will be launched later this year:

“We have seen independent development from a group of developers in our decentralized network. They have submitted a version of SHI that seems to avoid the issues found in other moonshots.”

#Shibarium. #Shi. #Treat. #Shib #Metaverse. How we work together to weather the incoming storm & more in my new Medium. #SHIBARMY https://t.co/RAYdaij21q

— Shytoshi Kusama™ (@ShytoshiKusama) July 6, 2022

Shiba Inu is planning to expand the network with a new reward token called TREAT. TREAT has been in design for a while now and will have wider applications in the Shiba Inu ecosystem like the project’s metaverse project and the Shiba collectible card game dubbed the best collectible card game on the planet. Kusama didn’t provide more details that were developed by Shiba Games and Playside but they did mention a blog post is coming up at a later stage. The TREAT token will help provide balance to the stablecoin as the SHIB developer added.

The developer update included updates on the progress of the layer-2 solution Shibarium which will allow users and developers to create new applications on the blockchain infrastrcuture. According to Kusama, the project is doing well in hosting new developers that they met over the year and will help them with the UX/UI of the web portals:

“As of now, everything is still on track, and we are moving as fast as we can to complete this core component to our ecosystem.”

The public beta launch date for Shibarium is yet to be determined. Described as an experiment from the decentralized community building, Shiba Inu was created by pseudonymous developers under the name Ryoshi. Unlike popular meme coins such as DOGE which runs on its own blockchain, Shiba Inu is an ERC-20 token built on Ethereum which means it is also subject to the network’s development decisions and has a marekt cap of $5.7 billion.