Shiba Inu’s Shytoshi Kusama explains SHIB, BONE, LEASH, and TREAT tokens’ value, tracing the project’s evolution from a meme coin to a decentralized system.
The utility of SHIB, BONE, LEASH, and the soon-to-be-launched TREAT token has been recently discussed by Shiba Inu lead developer Shytoshi Kusama. This has garnered significant attention from investors, eagerly anticipating the TREAT token’s launch on January 14. Concurrently, Kusama disclosed a vision for the “Shib Network State” and the project’s transition from a meme coin.
Shytoshi Kusama, the leader of the Shiba Inu breed, reveals the practicality of ecosystem tokens
Shytoshi Kusama introduced the concept of the “Shib Network State” in a podcast titled “Meme Mania and the 36 Chambers of Tech.” He characterized Shiba Inu as a digital entity, drawing comparisons to the Montevideo Convention’s criteria for statehood. The project capitalizes on its four-token governance system, a vast global community, and a virtual territory.
A More Comprehensive Examination of SHIB, BONE, LEASH, and TREAT Utilities
Shytoshi Kusama delineated the unique responsibilities of each token in the network: SHIB is responsible for governing the community, BONE is responsible for technology, LEASH is responsible for judicial matters, and TREAT is responsible for driving innovation and marketing. This system promotes active participation within the Shiba Inu ecosystem by facilitating decentralized decision-making.
Additionally, he elucidates the strategic functions of the ecosystem tokens. In addition to their governance responsibilities, they collectively facilitate the project’s transition to a robust decentralized system. SHIB, the primary community token, guarantees grassroots participation. BONE’s emphasis on technology fosters scalability and security.
Conversely, the ecosystem’s rules and regulations are regulated by LEASH. Finally, the TREAT token, scheduled to be released shortly, is expected to promote innovation and spearhead marketing initiatives.
Shib Network State Vision
The Shiba Inu project’s leader underscored the project’s objective to provide a user-friendly technology experience for a global audience, making Web3 as seamless as Web2. “Our objective is to transform Shiba Inu into a technologically advanced and accessible ecosystem,” he stated, underscoring the project’s dedication to innovation and inclusivity.
Shiba Inu increasingly establishes itself as a decentralized entity, redefining the utility of blockchains and community governance as the Shib Network State develops. This development indicates that the ecosystem and its holders have a bright future.
Shib Army Remains Robust
The project’s population comprises the “Shib Army,” estimated to have over six million members. Shytoshi Kusama observed that on-chain data revealed a significantly greater number of holders than initially anticipated, particularly during events such as the FTX collapse.
In the interim, the metaverse and domain assets such as “shib.com” comprise the territory of the Shiba Inu in digital form. The Shib Army utilizes this digital infrastructure as a virtual homeland, which offers opportunities for interaction and development. Additionally, its multi-chain capabilities facilitate the seamless movement of tokens across blockchains, thereby establishing connections with other decentralized ecosystems.
A More Comprehensive Examination of the Prices
Amid a more extensive crypto market downturn, the most prominent meme coin experienced a decline today. Today, the price of SHIB decreased by approximately 10% to $0.00002165, while its trading volume increased by 78% to $864 million. It is important to note that the cryptocurrency has reached a 24-hour high of $0.00002389, indicative of the increased selling pressure in the market.
The price of BONE experienced a 10.5% decline to $0.4523, following a 24-hour high of $0.5061. Conversely, the trading volume of the LEASH token increased by 134% to $2.03 million, while its price decreased by 5% to $263.2009.
