Shytoshi Kusama, the chief developer of Shiba Inu, indicated that next week could be significant for the SHIB ecosystem. This announcement followed a brief interview he gave at the Token 2049 conference held in Singapore. Through his posts on the X platform, Kusama shared insights with the community regarding expectations for the coming week.
TREAT Token and Layer-3 Initiatives
Crypto enthusiast Raajeev Anand shared a video from the interview with Kusama, highlighting that the chief developer suggested the coming days may mark a turning point for SHIB. Anand noted that the team plans to soon reveal “real use cases” for the Shiba Inu ecosystem.
While Kusama spoke vaguely about these use cases, they are believed to be related to the TREAT token and the layer-3 privacy-focused network they are currently developing. In his post regarding the Token 2049 event, Kusama expressed a desire to have spent more time at the conference, indicating that their focus was on “private matters.” The community interprets this reference as a nod to the layer-3 network.
Transition to Shibarium and Decentralized Finance
Kusama also updated his X bio to “Preparing to #Treat the generals,” suggesting that the layer-3 network launch could be imminent. At the beginning of 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 believed that TREAT token will serve as a utility and governance token for the new network.
The launch of this network is expected to add an exciting use case to the Shiba Inu ecosystem, potentially strengthening SHIB’s position as one of the top meme coins. Last year, the meme coin demonstrated its intent to expand into various domains with the launch of the layer-2 network, Shibarium. However, as noted over the past year, the mainnet Shibarium did not receive the anticipated interest when compared to the testnet phase.
Another development came from Shiba Inu’s marketing lead, Lucie, who urged users to move away from centralized exchanges and focus on decentralized finance (DeFi). She invited DeFi enthusiasts to participate in Shibarium, advising users to hold their tokens on the layer-2 network to benefit from lower fees and faster transactions.
Lucie reiterated that DeFi is the real solution, encouraging the crypto community to learn about using decentralized wallets and familiarize themselves with blockchain fundamentals. She also referenced the WazirX hack, reminding users that relying on centralized exchanges is not the best way to protect their assets. However, it is crucial to note that DeFi users have also lost funds due to numerous traps like social media bots, social engineering attacks, and fake websites.
These upcoming innovations in the Shiba Inu ecosystem could further solidify SHIB’s market position. The introduction of elements like the layer-3 network and TREAT token may enhance the project’s sustainability and foster greater community engagement.
