The TREAT token has been unveiled by the Shiba Inu lead developer, Shytoshi Kusama as a vital component to the ecosystem has ignited excitement.
Designed to improve the governance structure, an increase in the token’s circulation, and attracting public confidence, TREAT is another successful action towards shib mastening its place in the DeFi ecosystem.
In the new ecosystem floated by SHIB’s creator Ryoshi, known as TREAT, BONE is set to be phased out with TREAT taking a place at ShibSwap, which is a DEX within the Shib ecosystem. In addition, it will be instrumental in facilitating the provision of SHI, our stablecoin, and create an effective governance structure that is truly decentralized.
Shytoshi Kusama Highlights TREAT’s Role in Transforming the Crypto Landscape
“TREAT is not just some random token; it is the foundation upon which most of the trust and accountability in the crypto sector are likely to be established going forward,” noted Kusama during the announcement on November 23.
Kusama’s announcement arrives at the same time when a live streamer with the nickname Jack Doherty defrauded his fans with a meme coin scam. To this, Kusama announced the intention to implement the problems of ‘Karma and Reputation’ into SHIB ecosystem by leveraging TREAT functionality.
Thus, they are designed to incentivize positive behavior and penalize negative; it provides a new solution to a problem that has plagued the relatively young field of cryptocurrency. The announcement has been well received in the market, which has reflected in both the increase in SHIB price, as well as higher trading volume.
Currently, SHIB sits at $0.0000273, rising by 10% within the last 24 hours and a 55% uptick over the week. The 24 hour volume has been recorded to be about $ 3.36 billion while market cap recorded stands at around $ 16 billion showing investors confidence.
Based on the growth patterns, some analysts have predicted that should the same pattern of the growth recorded in by dogecoin be experienced, the price of SHIB could doubled. The burn rate of SHIB has also increased, which has also given a boost to the markets as well.
The TREAT token aims to bring significant improvements to the functionality of Shiba Inu and become an ideal governance, liquidity, and accountable token within the continually evolving globe of cryptocurrencies.
