On September 26, 2024, Lucy, the official marketing officer for the Shiba Inu team, published a post detailing the SHI stablecoin, the idea of which was first introduced by the mysterious creator of the $SHIB coin, Ryushi.
Lucy also revealed a potential date for SHI to be released for public use on the Shibarium platform.
What to know about SHI and its launch date
In her tweet, Lucy explained that SHI is still in development and has not been released yet.
She stressed that this stablecoin “represents a significant development within the Shib system,” and is designed to operate as a stable, decentralized currency within that system.
Ryoshi's original idea was to peg SHI at $0.01. However, the exact mechanism to achieve this peg has not yet been determined. Currently, discussions are underway within the $SHIB community about possible options to ensure an effective peg for SHI.
SHI: Fundamental development for stability and utility in the Shibarium system
According to leader Chitoshi Kusama, SHI is still under development and undergoing rigorous testing.
Finally, Lucy shared a glimpse into when the long-awaited stablecoin will launch. She explained that “the Shib ecosystem is looking to integrate SHI when the infrastructure is fully ready,” to ensure stability and utility in decentralized finance.
Importance of SHI in Shibarium
Lucy also explained that SHI will be an important tool for new users to avoid the risks of cryptocurrency price volatility, and will be a means of payment and remittances. Additionally, it will serve as an underlying asset in DeFi applications to facilitate lending, borrowing, and yield farming.
SHI will also enhance liquidity on Shibarium and ensure safe and smooth transactions, which will add new users and increase loyalty to the $SHIB ecosystem in the long run.
