Shiba Inu Team Says Stablecoin SHI, Shibarium, SHIBFE Are Nearing Completion: Details

According to the Shiba Inu team in a recent blog post, Shiba Inu’s main financial components Shibarium, stablecoin SHI, and SHIBFE, are currently undergoing a development process and are nearing completion.

In the blog post, the Shiba Inu lead developer, Shytoshi Kusama, said: “I refuse to give any hard dates at this time, but I expect to see one or multiple of these technologies before the end of summer or very early fall.”

What Shibarium, SHI, and SHIBFE Represent in the Shiba Inu Ecosystem

Shibarium is Shiba Inu’s Layer 2 blockchain that utilizes the digital token BONE and stands as the backbone of all the SHIB projects that are in development.

SHI refers to Shiba Inu’s stablecoin solution. Speaking on SHI’s development, the blog post says: “Timeline: TBD Finishing development and going into testing soon.”

Moreover, SHIBFE stands for Shibarium Financial Ecosystem. The project is paired with SHI Development and is related to SHIB’s financial products.

Shiba Inu also introduces the Shibarium hackathon ahead of the completion of these components and the Shibshire Blastaway. The concept of Shibshire Blastaway represents the decentralized outcome of SHIBFE and a completed Shibarium.

This concept of a multi-industry decentralized conglomerate that uses the SHIBFE is loosely based on Berkshire Hathaway, which has its business built on the back of a variety of industries.

Shiba Inu has also announced the retention of its first legal counsel: Craig Kessler Esquire (CK1), a legal consultant for Amazon Studios/Prime Video and Hulu. Craig will aid in finalizing contracts with upcoming Shib.io Metaverse Studio, Metaverse Advisory Team, and other contracts, including NDAs, entertainment deals, and new partnerships.

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Tobi Loba

Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.