The Shiba Inu coin or SHIBA is an ERC-20 token that Coinpri has already presented to you in the episodes Coinstory#1 and Coinstory#1.2. The token of the little dog has decidedly the wind in its sails, indeed accustomed to swim against the tide, it continues its way despite the FUD and dump whose victim Bitcoin (BTC), Ethereum (ETH) and cryptocurrencies in general.
Shiba Inu coin, the volatility of the market does not even scare it!
To the surprise of many except its community, the famous newspaper The Herald recently listed the currency as one of the crypto currency with high potential for 2022.
The competitor of the doge is indeed cited as one of the virtual currencies to imperatively possess in its portfolio to be able to trade serenely the next wave of hype of the metaverse. An announcement that has not greatly manipulated the price, we are definitely in bear market… Anyway, this shows a new step towards the massive adoption of Shiba Inu. An adoption that Shytoshi Kusama intends to help.
Shytoshi Kusama, the new master of the Shiba Inu Coin?
As nature abhors a vacuum, after the mysterious disappearance of the founder Ryoshi, it is finally Shytoshi Kusama who comes to give us news about the progress of the Shiba Inu ecosystem.
This developer with a great sense of humor intends to use the Shibarmy to achieve the vision and goals envisioned by Ryoshi, the founder of Shiba.
No matter how much these opponents may dislike it, the virtual currency is not yet on the shitcoins list and continues to surprise since its creation.
In the ocean of sharks that are the cryptocurrencies (editor’s note: in the words of Shytoshi Kusama himself), the Shiba Inu Coin sees big.
Between Shibarium, its layer 2 launched in partnership with X-Fund having the BONE its own token so the latest update is a success, the restructuring of the workforce, the progress of the Shiberse, the crypto metaverse, what is missing from the ecosystem? An algorithmic stablecoin you say?
The SHI, the algorithmic stablecoin of the Shiba!
Not insensitive to the crash of Terra’s UST algorithmic stablecoin (LUNA) resulting from its depeg to our good old USD, Team Shiba is launching SHI, its own stablecoin.
A stablecoin that will learn from the UST fiasco, because according to its creator, its protocol takes into account market fluctuations. If this one effectively analyzes the details of the transactions to avoid the manipulations of the price, we can have one of the next stablecoins in fashion. Scheduled for 2022, it will allow to stabilize and balance payments and transactions in the whole Shiba ecosystem in view of the official launch of its own Blockchain.
TREAT, the reward token!
This token, as described in the Shiba Inu Woofpaper, will be used to reward the most dedicated developers to the ecosystem who have worked hard to give it value. So naturally, a bag is reserved for them.
Taking into account the community’s desire not to use Bone, since this token is already used in the Shibarium, it will be used to obtain rewards in the Shiberse and for Shiba trading card holders, reminiscent of NFT’s staking. Yes, the Shiba also has its own trading cards, which are not free NFTs, but items that have value.
Note that the TREAT will also serve as a reserve value for the Shi and Shytoshi Kusama promises that more details about this promising digital asset will be given later. The developers are looking forward to creating a stablecoin that will respect the consensus mechanisms of the Shiba Inu community.
True to form and supported by an unwavering community, Shiba Inu continues to amaze with its ambitions and, more importantly, with the realization of its pharaonic goals. With regulations becoming more and more burdensome, such as the recent MiCA in Europe or the massive arrival of CBDCs, or even other stablecoins, the Shiba Inu Coin is not left behind and proudly announces the arrival of its decentralized stablecoin. Will the development of Shi bring more confidence to the creditworthiness of fiat? Or on the contrary, will it give reason to those who want this type of safe haven cryptocurrency to disappear? Stay tuned to see the evolution of this small token whose capitalization remains at $5.9 billion!
Co-founder of Coinpri, Expert in blockchain and NFT, I vulgarize the new web3 and blockchain paradigm here.