Shiba Inu Lead Shytoshi Kusama Defines Utility Of SHIB, BONE, LEASH, & TREAT

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Shytoshi Kusama, the mastermind behind Shiba Inu‘s development, has shared his thoughts on the purpose of SHIB, BONE, LEASH, and the upcoming TREAT token. This statement has sparked interest among investors, who are eagerly anticipating the launch of TREAT, scheduled for January 14. Moreover, Kusama hinted at a future vision for “Shib Network State” and the transition of Shiba Inu from being just a meme coin to a more substantial project.

Shiba Inu Lead Shytoshi Kusama Reveals Utility Of Ecosystem Tokens

In a podcast named “Meme Mania and the 36 Chambers of Tech,” Shytoshi Kusama presented the concept of the “Shib Network State.” Comparing it to the Montevideo Convention’s standards for statehood, he characterized Shiba Inu as a digital entity. The initiative utilizes its four-token governance system, a vast international community, and a virtual territory.

A Closer Look Into SHIB, BONE, LEASH & TREAT Utilities

Shytoshi Kusama clearly defined the unique functions of each token in the network: SHIB is responsible for community governance, BONE focuses on technology development, LEASH handles judicial issues, and TREAT stimulates innovation and marketing efforts. This structure encourages decentralized decision-making, promoting active involvement within the Shiba Inu ecosystem.

Additionally, he outlines the strategic functions of the ecosystem tokens. Beyond their administrative duties, they collaboratively fortify the project’s evolution into a resilient decentralized structure. SHIB, serving as the primary community token, fosters grassroots participation. BONE concentrates on technological advancements to enhance scalability and security.

On a different note, LEASH enforces the guidelines and laws within its ecosystem. Lastly, the upcoming TREASURE token aims to stimulate innovation and spearhead marketing initiatives.

Shib Network State Vision

The leader of the Shiba Inu project underscored their goal to simplify Web3 just as we’re accustomed to with Web2, providing technology that’s easy for everyone. He stated, “We strive to transform Shiba Inu into a cutting-edge and accessible ecosystem,” highlighting the project’s dedication to fostering inclusivity and innovation.

With the progression of the Shib Network’s structure, Shiba Inu is more than a digital currency; it’s transforming into a decentralized powerhouse, reshaping the way blockchain technology is used and redefining community management. This transition points towards an optimistic future for its ecosystem and token holders.

Shib Army Remains Strong

The “Shib Army,” with an approximate size of over six million individuals, makes up the community for this particular project. Notably, Shytoshi Kusama pointed out that on-chain statistics showed a much larger number of holders than originally expected, particularly during instances such as the FTX incident, suggesting a wider spread ownership than initially thought.

In a digital landscape, the realm of Shiba Inu is established, including its metaverse and web properties such as “shib.com”. This digital setup serves as a virtual homeland for the Shiba Army, offering areas for engagement and development. Moreover, its versatile nature allows for effortless token transfer across various blockchains, fostering links with other decentralized environments.

A Closer Look Into The Prices

Today, the popular meme cryptocurrency experienced a dip due to a broader downturn in the crypto market. The price of SHIB dropped approximately 10% to reach $0.00002165, though its trading volume saw a significant increase of 78%, amounting to $864 million. Interestingly, it reached a peak of $0.00002389 within the last 24 hours, demonstrating the intense selling activity in the market.

The cost of BONE decreased by 10.5% to $0.4523, following a peak of $0.5061 within the last 24 hours. Conversely, the value of LEASH tokens fell 5% to $263.09, accompanied by an increase in trading volume of 134%, amounting to $2.03 million.

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2025-01-08 18:02