Shiba Inu Developers Announce the Launch of a Stablecoin

The creators of the Shiba Inu coin reported on the current state of development of new ecosystem components and announced plans for the future.

SHIB lead developer Shytoshi Kusama has announced a new update for the Shiba Inu ecosystem. The company plans to launch its own stablecoin, reward token, and collectible card game for its own metaverse. At the same time, according to Kusama, he acknowledges the existing anxiety in the crypto markets due to the fact that several stablecoins have lost their peg to the US dollar, and billions of dollars have completely disappeared from the market.

If everything goes well, the developer writes, then the SHI stablecoin will be launched this year.

“We appreciated the work of independent developers in our decentralized network. They introduced a version of SHI that appears to avoid the problems found in other ecosystems,” says Kusama.

Also, the developer also announced the TREAT reward token, which is currently being actively developed and will be widely used in the Shiba Inu ecosystem, including the metaverse project and the upcoming collectible card game. While Kusama did not divulge details about the metaverse, however, he said that this topic deserves a separate post, which will be later.

The update includes information on the development progress of Shibarium, a layer-two 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 a lot of new developers and, says Kusama, everything is going according to plan at the moment.

Currently, the market capitalization of Shiba Inu is more than $5.7 billion, and the cryptocurrency itself is the 14th in this indicator in the world.

Earlier, Bitcoin of America, the operator of the BTM crypto ATM network, announced support for Shiba Inu. The SHIB token became available at 1,800 Bitcoin of America ATMs in 31 states.