Shiba Inu’s lead developer, Shytoshi Kusama, addressed an error made by Crypto.com regarding the TREAT token, providing insights into its role within the Shiba Inu ecosystem.
Points
- Shytoshi Kusama corrected Crypto.com’s error regarding the TREAT token.
- TREAT is a new token within the Shiba Inu ecosystem.
- TREAT will supply liquidity to the SHI Stablecoin and replace BONE as the reward token for ShibSwap.
- The TREAT token will also provide rewards for the Metaverse and the Shiba Collectible Card Game.
- The token has a circulating supply of 3,333,333,333 and features a continuous burn mechanism.
Shiba Inu’s lead developer, Shytoshi Kusama, recently addressed an error made by Crypto.com regarding the TREAT token, part of the Shiba Inu ecosystem. On July 21, Kusama posted on X, pointing out that Crypto.com had mistakenly provided incorrect information about the TREAT token to its users.
Crypto.com’s Blunder Insights
Kusama stated, “Unfortunately, Crypto.com mentioned our TREAT token, which has not yet been launched, incorrectly assuming it was available.” This comment referred to a previous article on Crypto.com that misled users with an incorrect link to a Treat site. The link was unrelated to the Shiba Inu ecosystem. Kusama highlighted that the SHIB community had already taken steps to correct the issue by contacting the exchange.
More About TREAT Token
TREAT is a newly introduced token within the Shiba Inu Ecosystem, designed to fulfill several roles. One of its primary functions is to supply liquidity to the SHI Stablecoin. Furthermore, it will take over from the BONE token as the reward token for ShibSwap. The token will also provide rewards for the Metaverse and the blockchain version of the Shiba Collectible Card Game.
The TREAT token has a circulating supply of 3,333,333,333 and features a continuous burn mechanism. The supply is managed by continuously burning 0.25 tokens every 60 minutes until the supply reaches zero. Buying it on ShibaSwap and taking part in a rewards program within the ecosystem will help in collecting the tokens.
Shiba Inu’s Current Performance
At press time, SHIB price was trading at $0.00001783, after an intraday surge of 0.07% with $10.51 Billion in market cap and $436.13 Million in 24-hour volume. In the past seven days, the token recorded a downtrend performance, declining by 0.70%. The launch of the TREAT Token is anticipated to boost SHIB’s value and presence in the crypto market.
Conclusion
Shytoshi Kusama’s clarification regarding the TREAT token highlights its significance within the Shiba Inu ecosystem. The token’s multifaceted role, including liquidity provision for SHI Stablecoin and rewards for ShibSwap, the Metaverse, and the Shiba Collectible Card Game, positions it as a key component in Shiba Inu’s ongoing development. As the launch of TREAT approaches, it is expected to enhance SHIB’s value and presence in the crypto market, further solidifying Shiba Inu’s position as a major player in the blockchain space.
https://twitter.com/SHIBarium_/status/1815294824129482753