- Shiba Inu introduces “Shib Network State,” aiming for decentralized governance and growth.
- SHIB governs the community, BONE drives tech, LEASH manages rules, TREAT focuses on innovation.
- Shiba Inu’s TREAT token launches on January 14 to enhance ecosystem growth and innovation.
Shiba Inu’s lead developer, Shytoshi Kusama, explained the purposes of SHIB, BONE, LEASH, and the upcoming launched of TREAT token within the economy. In his recent podcast, Kusama described these tokens as notable assets, each of which has its function within the project. SHIB governs the community, BONE oversees technological development, LEASH handles judicial matters, and TREAT will focus on fostering innovation and marketing within the network. These roles represent a shift from being seen solely as a meme coin to becoming a more structured decentralized entity.
The launch of the TREAT token, expected on January 14, has generated significant excitement among investors. With its focus on innovation and marketing, it promises to bring further utility to the ecosystem. The four-token system aligns with the project’s broader goal of creating a decentralized and self-sustaining governance model. SHIB, as the community token, ensures active grassroots engagement, while BONE’s technological focus supports scalability and security. LEASH’s role in managing the ecosystem’s rules strengthens governance, making the system more robust.
Shiba Inu’s “Shib Network State” and Global Vision
Kusama also shared insights into the vision for Shiba Inu’s future, introducing the concept of the “Shib Network State.” Drawing from the Montevideo Convention’s criteria for statehood, Kusama described Shiba Inu as a digital entity encompassing cryptocurrency and a fully-fledged ecosystem with global reach. This “Shib Network State” aims to be a digital territory supported by the vast Shiba Inu community and its innovative technology.
The Shiba Inu network is expanding beyond cryptocurrency transactions. It is building a metaverse and developing domain assets like “shib.com,” which serve as a virtual homeland for the growing Shiba Inu community. This digital infrastructure facilitates interactions and growth within the ecosystem. In addition, the possibility of transiting tokens between different chains in the platform allows Shiba Inu to link up with other decentralized systems. The initiative has been established to work towards the development of an inclusive and accessible Web3 environment that will help to bridge the gap between Web2 and Web3 further.
Market Activity and Price Movements
Despite the growing excitement surrounding it’s future, the project’s tokens faced some price fluctuations. SHIB’s price dropped approximately 5.59%, reaching $0.00002128 amid a broader market downturn. Similarly, BONE saw a decline of 7.09%, settling at $0.4445, while LEASH decreased by 4.32%, reaching $255.16. Despite these drops, the trading volumes of these tokens increased, signaling heightened market activity.
