Shiba Inu Plans to Launch Stablecoin, Reward Token, Collectible Card Game

SHIB prices hardly budged on the news but gas token BONE and ecosystem token LEASH rallied.

AccessTimeIconJul 6, 2022 at 10:00 p.m. UTC
Updated Jul 7, 2022 at 2:30 p.m. UTC

Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.

A lead developer behind popular meme cryptocurrency SHIB on Wednesday teased plans to expand the Shiba Inu ecosystem with a decentralized stablecoin, a reward token called TREAT as well as a collectible card game for its metaverse.

In a Medium blog post, pseudonymous developer Shytoshi Kusama said that "independent developers" are crafting a decentralized stablecoin called SHI, which "seems to avoid the issues found in other moonshots" – a likely reference to the billion-dollar Terra/luna implosion. The team expects to share more information when SHI gets closer to its final form, and plans to launch it later in 2022, the blog post said.

TREAT, the SHIB metaverse's upcoming reward token, will be tied to the Shiba Collectible Card Game. The token will also "help provide balance to" Shiba Inu's stablecoin, the blog post said without describing how that would work. Developers are also reserving "a limited supply" of TREAT for longtime backers of the project.

Shiba inu is the second most popular dog-themed cryptocurrency after dogecoin (DOGE); it amassed an ardent following during the latest boom in crypto. It launched in 2020 August, and later launched a decentralized exchange ShibaSwap, and ecosystem tokens BONE and LEASH, with further plans to expand the meme coin into a crypto ecosystem.

As a part of the plan, developers are working on the ecosystem's own layer 2 protocol called Shibarium that would support native app deployment and development, including a gas token called BONE. The team is separately building a metaverse project with 100,000 land plots as virtual real estate. The Shiba Inu Collectible Card game, which is in the development phase, will live in Shiba's metaverse, according to the blog post.

Shiba Inu's SHIB token traded flat in the wake of the news, but surged almost 50% in a week in June amid speculations about its Shibarium protocol. ShibaSwap's BONE token is up 6% and LEASH rose 5% in the last 24 hours.




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Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.

CoinDesk - Unknown

Krisztian Sandor is a reporter on the U.S. markets team focusing on stablecoins and institutional investment. He holds BTC and ETH.