The project team behind Shiba in token shared some development work updates on the Shibarium blockchain and its stable coin.
Shiba Inu token is a popular meme coin, after Dogecoin. This token was launched in August 2020 without a use case but right now this token is available at huge numbers of crypto exchanges to trade and also available at multiple crypto payment gateways to use to pay in ShibaInu token, thanks to the technical support by BitPay like crypto payment platforms
On 10 May, The project team behind the Shiba inu token published its blog to bring some better activity among the Shiba Inu token lovers.
The blog stated that two main components of the Shibarium blockchain Network, SHI and SHIBFE, are very near to completion. Shyotoshi Kusama, the lead developer in the Shiba Inu project team, refused to tell any exact date.
“I refuse to give any hard dates at this time, but I expect to see one or multiple of these technologies before the end of summer or very early fall.”
Shibarium is a Layer2 blockchain network, which will provide high-speed and low-fee-based transactions for the Shiba Inu token. The BONE token will be native token of this network. Right now this blockchain Network is under development.
According to the blog, SHI is a stablecoin, which will run on the Shibarium blockchain. But here it is still not much known about the SHIBFE. However, the blog mentioned it as a main financial comment but still didn’t explain the use of this coin/token.
The blog reported that The Shibarium Financial Ecosystem (SHIBFE) will remain Integrated with SHI stable coin as an important financial component.
“In addition to SHI being added as a weighted pool pair on CURVE on the ETH network, we expect a multitude of Forks of the financial basis onto the Shibarium, this includes AAVE, CURVE, COMPOUND, and of course ShibaSwap to name a few. A fantastic and immutable bridge of course is critical to all this.”
At present, the Shiba Inu project team is backing RYOSHI VISION, SHI, SHIBFE, and BONE tokens, and these things are creating a very big tension among the Shiba Inu token investors because the team is not focusing on a particular coin, instead, they are creating new coins/tokens.