ShibaSwap, a decentralized ecosystem exchange powered by the Shiba Inu team, clocks one year today, June 6. To commemorate this day, Shytoshi Kusama, Shiba Inu’s lead developer has unveiled key projects set to be rolled out in the Shiba Inu ecosystem before the end of 2022.
Shiba Inu Ecosystem Stablecoin: SHI
According to Shytoshi Kusama, a team of developers in SHIB’s network is on track to introduce a stablecoin named SHI into the memecoin’s ecosystem before the end of 2022.
The purpose of creating SHI is to provide a token that can be used by the community to counter and balance payments while also providing a hedge against market volatility.
Importantly, the project will take cognizance of the factors behind some recently failed stablecoins like TerraUSD (UST) and Staked ETH (sthETH), to guard against a similar occurrence. Not to forget that the de-pegging of these stablecoins resulted in billions of dollars being wiped off the market.
Per the announcement, Shytoshi Kusama said;
“We’ve 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 while allowing Shi to be used to counter and balance payments that need to be done without market fluctuations.”
“This will be an experimental protocol, like everything decentralized that Shib does, and a more detailed and complex set of information will be released about this token as it is finalized. Bearing no insane issues, this should be released in 2022,” the lead developer of Shiba Inu added.
TREAT Reward Token
As found in Shiba Inu’s Woofpaper, another interesting development to be expected is called TREAT. The token is designed as a reward token for community members in the ecosystem.
It is said that the introduction of the Treat reward token will be a big step toward making the Shiba Inu project a fully decentralized one.
While TREAT is mainly designed to benefit current SHIB ecosystem holders, the project will serve other purposes like the derivation of rewards for the Metaverse and Shiba Collectible Card Game. More so, the TREAT token will help provide balance to the SHI stablecoin.
However, before the launch of the TREAT reward token, the Shiba Inu lead developer noted that its use case must be well-defined and outlined with properly designed tokenomics.
Shiba Collectible Card Game
Lastly, the game designer, Playside and Shiba Games is working on rolling out a fantastic game called Shiba Collectible Card game. At the moment, details of the project are yet to be revealed. However, the testing and launching of the game are expected to happen soon.
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Shiba Inu Project Continues to Grow
The memecoin project has recorded significant development in recent times. In the past weeks, the community has destroyed billions of SHIB tokens thereby reducing the token’s circulating supply with the ultimate aim of boosting the price of the digital asset.
On the other hand, more and more investors, businesses, and entities have continued to show adoption and support for Shiba Inu (SHIB) as a payment method. With these major developments inbound, the project could see increased adoption and all-around growth.