Shiba Inu will soon have a companion in the form of a new token – TREAT. Major SHIB influencer and the creator of ShibaSwap announced that SHIB ecosystem will have a new member, TREAT.
SHIB’s price has increased by 6% in the last 7 days. It is currently trading at $0.00001041.
Shytoshi’s blog broke the news of the launch of the new token along with other updates on Shiba’s L2 blockchain Shibarium and its stablecoin, SHI.
Major Developments In Shiba Inu Ecosystem
Detailing the nitty-gritty of the new token Shytoshi said the Treat token will be primarily employed as a reward. In recent times the SHIB community approved the use of BONE tokens as a reward for the production of validators in Shibarium. Treat will be used as a reward for everything else.
Shytoshi also revealed that TREAT will be employed to extract rewards for the Metaverse and the Shiba Collectible Card Game. It will also play a vital role in the balancing of the SHI stablecoin. Kusama expressed the hope that tokenomics will be popular within the community. The development of Treat was shrouded in secrecy to avoid any rush off and to plan its use cases well in advance.
Kusama also disclosed that a limited supply of Treat will be reserved for loyal Breed members. Kusama lamented that many of Shiba’s most loyal supporters had to face “FUD”, sometimes from previous disgruntled members of the team who parted on bad terms. It is also possible that these disgruntled members could cause SHIB to tumble so that they can buy the dip.
In another interesting development, a whale bought 20 Trillion $SHIB worth USD 210 million. The whale usually preferred XRP but made 21% of its entire portfolio while decreasing XRP by 5%.
Will SHIB Values Surge?
The recent updates have excited the SHIB community. SHIB’s values also surged by over 6% in the past week and SHIB is currently trading at $0.00001041. SHIB burn rates are also up by 155% in the last 24 hours.