Shiba Inu Developers Announce the Launch of a Stablecoin

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

SHIB Lead Developer Shytoshi Kusama has announced a new upgrade for the Shiba Inu ecosystem.The company plans to launch its own stablecoin, reward token, and collectible card game for its own metaverse.That being said, according to Kusama, he acknowledges the existing anxiety in the crypto markets due to the fact that several stablecoinshave lost their peg to the U.S. dollar, and billions of dollars have completely disappeared from the market.

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

"We appreciated the work of independent developers on our decentralized network, and they presented a version of SHI that appears to allowavoid problems found in other ecosystems," says Kusama.

The developer also announced the TREAT reward token, which is now being actively developed and will bewidely applied in the Shiba Inu ecosystem, including the metaverse project and the upcoming collectible card game.So far, Kusama has not divulged details about the metaverse, but said that this topic deservesa separate post that will be later.

Update includes progress informationdevelopment of Shibarium - a second-layer solution that will allow users and developers to create new applications in the existing blockchain infrastructure. The project is progressing well, as the company has managed to attract many new developers and, Kusama says, everything is currently going according to plan.

Currently, Shiba Inu's market capitalization is more than $5.7 billion, and the cryptocurrency itself is the 14th largest cryptocurrency in the world.

Earlier, Bitcoin of America, 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.