Recently, Shytoshi Kusama, the pseudonymous lead developer of the Shiba Inu ($SHIB) project, provided an update on the status of the work some of the key elements of the Shiba Inu ecosystem.

Here is what Binance Academy says about Shiba Inu:

“Shiba Inu (SHIB) is a dog-themed meme cryptocurrency named after a Japanese dog breed. It was created in 2020 by an anonymous developer named Ryoshi, who designed SHIB to be an alternative to Dogecoin (DOGE) on the Ethereum blockchain.

“SHIB is an ERC-20 token with a decentralized exchange called ShibaSwap. The SHIB roadmap and ecosystem also features an NFT art incubator called Shiba Artist Incubator, 10,000 ‘Shiboshi’ NFTs, and an NFT game Shiboshi Game.

“Shiba Inu had an initial circulating supply of 1 quadrillion tokens. Ryoshi locked 50% of the token in Uniswap to create liquidity, and sent the other 50% to Ethereum co-founder Vitalik Buterin’s wallet. However, Vitalik decided to burn 90% of the coins and donate the remaining 10% to charity.“

In a blog post published on July 6, Shytoshi wrote about the progress on Shibarium, $SHI, $TREAT, and SHIB metaverse; below, we highlight some of his comments.

L2 Blockchain Shibarium

“Shibarium is a key component in this uncanny war we find ourselves in as it will allow us to move assets on chain with minor BONE (gas) fees empowering micro transactions… As of now, everything is still on track, and we are moving as fast as we can to complete this core component to our ecosystem. xFUND and SHIB Developers have yet to determine a date for the Public Beta.“

Stablecoin $SHI

“Needless to say Shi is a concern after watching other stable tokens collapse and billions in dollars get wiped off the market completely… So as for Shi, we’ve seen independent development from a group of developers in our decentralized network. They’ve submitted a version of Shi that seems to avoid the issues found in other moonshots, while allowing Shi to be used to counter and balance payments that need to be done without market fluctuations… Bearing no insane issues, this should be released in 2022.“

Reward Token $TREAT

“Recently, the community did a vote that reserved the allocation of BONE for the production of validators and processes within Shibarium, leaving a question for the community: What will be available for rewards for everyone else? For this we have Treat. Treat will not only serve this purpose, but will derive rewards for the Metaverse, and the blockchain version of the Shiba Collectible Card Game, as well as for helping to provide balance to Shi!… Treat will benefit our current SHIB ecosystem holders greatly, the tokenomics will not disappoint.“

SHIB Metaverse

“Let me first apologize. I’m not sure how a date slipped into our MV post. The AAA studio is coming but it took longer than we expected… Discussions with top notch studios are still on the table and I’m hoping to lock in another important hire early this week. So yes, slower than I would have liked but still moving forward on all fronts. I’m hoping for announcements as soon as contracts get sorted.“