LShiba Inu developers have announced the end of development of SHI, the platform’s native stablecoin.
The developers of Shina Inu (SHIB) have published an article on their blog announcing and explaining the Network Update 5.10. One of the most important parts of it is the one that focuses on developing the vision of Ryoshi, the anonymous creator of the ecosystem, and which seems to be about to be completed.
This vision is summarized in the main financial components of the SHIB ecosystem: Shibarium, SHI and SHIBFE.
In this regard, although the article published by Shytoshi does not offer an exact date for the completion of development, he does dare to venture that some projects will see the light of day between late summer and early autumn.
The Shiba Inu blog post comes just after the The first and second phase of land sales in the Shiba Metaverse have been closedThis has been an important milestone for the network, as it has been one of the first examples of real utility for the meme token.
Shibarium and SHI, the basis of the stablecoin
One of the most important components of the network Shiba Inu It is Shibarium. This is SHIB's layer 2 blockchain for Ethereum, which uses the $BONE token as its operating engine and is considered the cornerstone of the rest of the projects being developed on the chain.
shibarium will offer layer 2 solutions for Ethereum, and is also supposed to feature scaling solutions and lower fees for all kinds of DeFi “projects.” At the moment, it has not been specified which projects these will be, although it has been pointed out that a “Hackathon” will take place before the completion of these developers.
In this sense, it is expected that some of the main liquidity protocols operating in Ethereum, such as AAVE, Curve or Compound branch towards Shibarium.
On the other hand, SHI is the sstablecoin solution that the Shiba Inu team is working on has been in the works for some time. The same article details that the more technical part of the development has already been completed, and that the testing phase will soon begin. It also mentions that the Shibarium Financial Ecosystem (SHIBFE) has been heavily involved in the development of SHI.
The ultimate goal is to achieve full decentralization of Shiba. In this sense, SHIBFE will be the engine that will drive this process, along with Doggy DAO and BONE tokens for decisions and the LEASH token for exclusivity.
