The pseudonymous lead developer of the meme-inspired cryptocurrency Shiba Inu ($SHIB), Shytoshi Kusama, has updated the cryptocurrency’s community on a deal he has said would “break the internet,” noting many are unaware it’s happening right in front of them.
Earlier this year during an Ask Me Anything (AMA) session on Twitter spaces, Kusama said the project had a deal “98% locked that will break the internet,” but has remained silent on it since. While the developer did not provide any specifics on the deal, they noted on Discord they always want “the best to only use and pay with SHIB but adopt SHIB as their own.”
According to the International Business Times, Kusama has also said they want “to use SHIB technologies and shift towards any align with our ethos.” Recently, an investor asked Kusama about the deal that would “break the internet,” to which the lead developer responded:
You’re watching it being built in slow motion … most people just haven’t realized it yet.
The development, according to the news outlet, aligns with Shiba Inu’s roadmap. The team behind the project has so far taken a calculated approach without rushing deadlines or pushing out unfinished products.
Apart from the deal that would “break the internet,” the team behind the meme-inspired cryptocurrency is reportedly working on numerous other projects while “building multiple things at once without a huge VC investment or corporate overlord,” which to Kusama “takes time.”
As CryptoGlobe reported, the team behind SHIB launched a burn portal earlier this year that allows users who burn tokens to earn “burntSHIB” tokens, which can be staked to generate rewards in the form of RYOSHI tokens, a separate token in the SHIB ecosystem. The burn portal has seen users remove 26.5 billion SHIB from circulation for a 14% APR.
Earlier this month, Italian luxury fashion house Gucci will reportedly accept crypto as a means of payment in several of its U.S. stores by the end of May, and it is planning to extend this program to all of its directly operated North American stores by the end of the summer. One of the assets it’s accepting is SHIB.
The SHIB community has revealed through a series of polls it supports token burns over its Metaverse as part of the project’s long-term strategy, presumably believing a reduction in the currency’s circulating supply is more beneficial than its Metaverse.
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading cryptoassets comes with a risk of financial loss.
Featured image via Unsplash
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