New SHIB-Based Token On The Way? Update
The post New SHIB-Based Token On The Way? Update appeared on BitcoinEthereumNews.com. The Shiba Inu ecosystem is one of the fastest growing communities in the crypto industry. The meme cryptocurrency has come a long way in a short time with lots of tokens and updates to its ecosystem, but it certainly still has a long way to go. In a recent not-so-surprise announcement, a core member of the Shiba Inu team hinted that a new stablecoin called Shi may be in the works. If the rumors are true, this could be huge news for SHIB holders and open up a whole new world of possibilities within the Shiba Inu ecosystem. New SHIB-Based Token On The Way Taking to a post on social media platform X, Vet Kusama, a member of the Shiba Inu team, talked about the purpose of a stablecoin earlier highlighted by SHIB founder Ryoshi. Shi would be a stablecoin, meaning a cryptocurrency pegged 1:1 to a fiat currency like the U.S. dollar to keep its value stable. Ok. What is Shi?Shi is part of the shiba ecosystem that will serve as a stablecoin in the shibarium chain. In article Ryoshi talked about Shi, although not technically, what Shi’s purpose was. So why do we need a stablecoin?Stable currencies play a major role in projects… pic.twitter.com/JPoB2d1Oux — Vet KUSAMA ™ (@vetkusama) October 19, 2023 As demonstrated by BUSD on the BSC chain, the concept of a stablecoin is to give investors a chance to participate in the cryptocurrency sector while experiencing lower levels of volatility. Vet Kusama draws a parallel to BUSD, noting that the workings of the SHI on Shibarium would be likened to BUSD on the BSC chain. There are no doubts about what a stablecoin would do for Shiba Inu, as it would give the overall ecosystem more utility and, according to Kusama, a ‘trading volume growth.’ …
The post New SHIB-Based Token On The Way? Update appeared on BitcoinEthereumNews.com.
The Shiba Inu ecosystem is one of the fastest growing communities in the crypto industry. The meme cryptocurrency has come a long way in a short time with lots of tokens and updates to its ecosystem, but it certainly still has a long way to go. In a recent not-so-surprise announcement, a core member of the Shiba Inu team hinted that a new stablecoin called Shi may be in the works. If the rumors are true, this could be huge news for SHIB holders and open up a whole new world of possibilities within the Shiba Inu ecosystem. New SHIB-Based Token On The Way Taking to a post on social media platform X, Vet Kusama, a member of the Shiba Inu team, talked about the purpose of a stablecoin earlier highlighted by SHIB founder Ryoshi. Shi would be a stablecoin, meaning a cryptocurrency pegged 1:1 to a fiat currency like the U.S. dollar to keep its value stable. Ok. What is Shi?Shi is part of the shiba ecosystem that will serve as a stablecoin in the shibarium chain. In article Ryoshi talked about Shi, although not technically, what Shi’s purpose was. So why do we need a stablecoin?Stable currencies play a major role in projects… pic.twitter.com/JPoB2d1Oux — Vet KUSAMA ™ (@vetkusama) October 19, 2023 As demonstrated by BUSD on the BSC chain, the concept of a stablecoin is to give investors a chance to participate in the cryptocurrency sector while experiencing lower levels of volatility. Vet Kusama draws a parallel to BUSD, noting that the workings of the SHI on Shibarium would be likened to BUSD on the BSC chain. There are no doubts about what a stablecoin would do for Shiba Inu, as it would give the overall ecosystem more utility and, according to Kusama, a ‘trading volume growth.’ …
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