Developers of Shiba Inu announced the launch of stabelcoin
Shiba Inu coin creators have reported on the current state of development of new ecosystem components and announced plans for the future.
SHIB lead developer Shytoshi Kusama announced a new update to the Shiba Inu ecosystem. The company plans to launch its own stabelcoin, rewards token and collectible card game for its own meta universe.
That said, Kusama says he recognizes the existing unease in the crypto markets because several stablecoins have lost their peg to the U.S. dollar, and billions of dollars have disappeared from the market entirely. If all goes well, the developer writes, SHI Stablecoin will launch as early as this year.
“We appreciated the hard work of independent developers on our decentralized network. They presented a version of SHI that appears to avoid the problems found in other ecosystems,” Kusama says.
The developer also reported on the TREAT reward token, which is now under active development and will be widely used in the Shiba Inu ecosystem, including the meta-universe project and the upcoming collectible card game. So far, Kusama has not divulged details about the meta-universe, but said that the topic deserves a separate post, which will come later.
The update includes information about the progress of Shibarium, a second-tier solution that will allow users and developers to create new applications on the existing blockchain infrastructure. The project is progressing well, as the company has been able to attract many new developers and, Kusama says, things are currently on track.
Shiba Inu currently has a market capitalization of more than $5.7 billion, and the cryptocurrency itself is the 14th largest in the world.
Earlier, Bitcoin of America, operator of the BTM crypto network, announced support for Shiba Inu. The SHIB token became available at 1,800 Bitcoin of America ATMs in 31 states.