Shiba Inu’s lead developer, Shytoshi Kusama, has shared exciting updates regarding the SHIB token ecosystem.
In a recent podcast, Kusama revealed the distinct roles of SHIB, BONE, LEASH, and the soon-to-launch TREAT token.
As investors eagerly await the January 14 launch of TREAT, Kusama also introduced his vision for the “Shib Network State,” highlighting the project’s evolution.
Shytoshi Kusama Reveals Roles of SHIB Tokens
Shytoshi Kusama detailed the key roles of the four tokens within the Shiba Inu ecosystem. SHIB explained that the community governs SHIB and creates grassroots engagement.
BONE is instead concerned with technologies that help scale and secure the platform. LEASH takes care of the judicial part—making sure that the rules of this ecosystem are met and obeyed.
Kusama emphasized that the recently unveiled TREAT token will drive innovation and marketing efforts.
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The role of TREAT will complement the ecosystem’s decentralized decision-making structure. This system encourages active participation from the Shiba Inu community, empowering them to shape the project’s future.
This token makes each player an integral part of the ecosystem’s growth. It provides for a natural entry into a more decentralized system.
Shiba Inu is no longer just a meme coin; it has become a full-fledged digital entity packed with possibilities.
Shiba Inu Plans Accessible Web3 Ecosystem
Kusama’s long-term vision for Shiba Inu goes beyond cryptocurrency. The project is envisioned as a digital entity with a well-defined territorial presence.
He drew parallels to the Montevideo Convention’s criteria for statehood, calling Shiba Inu a “SHIB Network State.”
It’s a global community vision combined with digital infrastructure to support it. Similarly, Shiba Inu is using its broad network and offering virtual territories like its metaverse and domain assets.
Through this, it aims to create a decentralized organization that yields both community governance and technological innovation.
Shiba Inu’s goal is to make Web3 as accessible and user-friendly as Web2. However, the project is committed to delivering state-of-the-art technology to a global audience, says Kusama.
It’s about inclusivity, innovation, and the ecosystem you can engage with. Shiba Inu users have grown very fast, and the ‘Shib Army’ is now said to exceed six million members.
According to data, many more were attracted during crucial events such as the FTX collapse. This growing community spearheads the project’s ongoing development.
Other than that, Shiba Inu is building a robust digital infrastructure. As a virtual homeland for the Shib Army, metaverse and domain assets like “shib.com” will be part of the ecosystem’s metaverse. The digital territory offers members interaction, growth, and expansion spaces.
Shiba Inu’s multichain capabilities separate it. These capabilities allow for seamless token movement among blockchains, which would connect Shiba Inu to other decentralized ecosystems and provide more growth potential.
Market Instability Impacts Shiba Inu Ecosystem
Despite the excitement of its new developments, Shiba Inu faced some setbacks in the market today. The price of SHIB fell 5.59%, settling at $0.00002128.
The crypto market has been volatile, and the drop in Tether came during a more general crypto market crash.
The price of BONE also dipped by 7.09% to reach $0.4445. Before this drop, BONE had briefly hit a 24-hour high of $0.5061. Meanwhile, LEASH registered a decline of 4.32% and retreated to $255.16.
These prices have dropped, but their trading volume has increased. In the last 24 hours, the trading volume of LEASH jumped by 5.77% to $1.68 million. Nevertheless, the value of these tokens fluctuates, but the overall market is still unstable.
