The anonymous leader of Shiba Inu, known under the pseudonym Shytoshi Kusama, revealed that the project will introduce a new reward token called TREAT. In addition, the team will focus some of its efforts on its SHI stablecoin to prevent it from suffering the fate of Terra’s UST.
Enter TREAT and SHI
“Shib Army We March On…” This is how Shytoshi Kusama titled his most recent announcement to users. In it, the anonymous head of the project outlined the severe macroeconomic issues and the “shortages in various aspects of normal life” that society currently has to cope with.
In times of such adverse conditions, most importantly, individuals should protect their mental and spiritual sanity and take care of their family and assets, Kusama advised. Market declines should also be viewed as a strategic period when people could make tactical investments.
“Gates buying a TON of farmland while the WEF pushes to lower nitrogen in farms for the Dutch” could be considered examples, according to the leader.
Kusama further explained what changes Shiba Inu is about to introduce amidst the turbulence. The project’s main target is to release a reward token called TREAT. It will help balance the stablecoin SHI and derive rewards for the Metaverse and the blockchain version of the Shiba Collectible Card Game.
“This is a huge step in the final landing of this massive project to full decentralization,” Kusama highlighted.
In addition, a limited supply of TREAT will be distributed to loyal Shiba Inu members who have been part of the project throughout both prosperous and challenging months.
Kusama also touched upon SHI – Shiba Inu’s stablecoin. Reminding about certain fiascos with such products (including Terra’s UST), the exec assured that the team behind SHI had been enforced with independent developers whose task is to prevent a similar crisis.
The primary objective of the stablecoin is to operate on both Ethereum and Shibarium (a blockchain solution proposed by Ryoshi – the creator of Shiba Inu).
SHIB Haters, What is Your Goal?
Created in August 2020, the self-proclaimed “Dogecoin killer” quickly managed to emerge on the crypto scene. At one point last year, the asset’s price was up over 100,000,000%, making it one of the market’s top performers. Despite the tremendous interest in it, many claimed that the token lacks any particular use-cases, and its success has been driven by pure hype.
According to Kusama, some individuals have even displayed a certain type of aggression toward the project, threatening members of Shiba Inu’s team and their families. He believes such an attitude is inappropriate since those developers have only worked for the progress of the memecoin:
“What is your goal? Is it to harm the project? To harm people who have done nothing but try to make Shib the best it can be?”
He assumed that some of the attacks might be carried out so SHIB’s price could decline, creating a buying opportunity. It is worth noting that the token’s current USD valuation is down by over 80% since its peak last October. Back then, its market capitalization surpassed $40 billion, while at the moment of writing these lines, it is around $6 billion.
Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).
PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.
Download MAXBIT Android App, Your best source of all crypto news!
Share this article: