Shiba Inu lead developer Shytoshi Kusama hinted that the coming week could be crucial for the SHIB ecosystem. This statement came after a brief interview at the Token 2049 conference in Singapore. Kusama gave an update on what to expect next week to the community through her posts on the X platform.
TREAT Token and Layer-3 Study
Crypto enthusiast Raajeev Anand shared a video from an interview with Kusama, in which the lead developer of Shiba Inu hinted that the coming days could be a turning point for SHIB. Anand stated that the team plans to reveal “real use cases” for the Shiba Inu ecosystem soon.
While Kusama has been vague about these use cases, it’s thought to be related to the TREAT token and the layer-3 privacy network they’re currently working on. In her post on the X platform about the Token 2049 event, Kusama said she wished she could have spent more time at the conference and that their focus was on “special topics.” She sees the special topics part as a reference to the community layer-3 network.
Migrating to Shibarium and Decentralized Finance
Kusama also changed her X bio to “Preparing to #Treat the generals,” suggesting that a layer-3 network launch could be imminent. In early 2024, the team raised $12 million through TREAT token sales to develop the layer-3 network. Although they have not yet announced the name of the network, it is thought that the TREAT token will be the vehicle and governance token for the new network.
The launch of this network will add an exciting use case to the Shiba Inu ecosystem and could help solidify SHIB’s position as one of the top meme coins. We saw last year that meme coin was looking to expand into different areas with its layer-2 network Shibarium. However, as we have noted over the last year, we have not seen the expected interest in the Shibarium network post-mainnet compared to the testnet period.
Another development came from Shiba Inu’s marketing leader, Lucie. The manager called on users to stop using centralized exchanges and focus on decentralized finance (DeFi), and invited DeFi enthusiasts to Shibarium. He also recommended users to hold their tokens on the layer-2 network and take advantage of low fees and fast transactions.
Lucie reiterates that DeFi is the real solution, telling the crypto community to learn how to use a decentralized wallet and familiarize themselves with the basics of blockchain. She also makes reference to the WazirX hack, reminding users that it is best to stop relying on centralized exchanges and protect their own assets. But the problem here is that DeFi users also lose money due to numerous traps such as social media bots, social engineering attacks, fake websites.
These innovations in the Shiba Inu ecosystem are likely to further solidify SHIB’s position in the market. Adding elements such as the Layer-3 network and TREAT token could increase the sustainability of the project and provide greater interaction within the community.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
