Shytoshi Kusama introduces TREAT as the new ShibSwap reward token, replacing BONE.
TREAT will power governance and a "Karma and Reputation" system in the SHIB ecosystem.
SHIB sees a 10% price surge amid excitement for TREAT and a spike in its burn rate.
Shytoshi Kusama the lead developer of Shiba Inu has revealed that the TREAT token offering will be the next major development of the SHIB ecosystem. Originally planned by Shiba Inu’s creator, Ryoshi, TREAT will supplant BONE as the reward token in ShibSwap and assume numerous positions geared toward centralizing the realm’s DeFi energies.
Besides encouraging users within ShibSwap, this token will help provide liquidity for SHI the ecosystem's stablecoin. With this development, the Shiba Inu community is keen and preparing itself to make changes to improve governance, trust, and utility on its platform.
Functioning as a governance token and a trust token
The TREAT token is supposed to be an active element in improving the governance mechanisms and building trust within the Shiba Inu ecosystem. Kusama highlighted that the token would back a new Karma and Reputation management system designed to tackle scams in the crypto space. However, this system will promote constructive behaviors and punish negative ones, something that has not been done in the past regarding trust problems in the field.
https://twitter.com/ShytoshiKusama/status/1860252717597483358
TREAT is also expected to serve as a governance tool, empowering community members with decision-making capabilities that align with Shiba Inu’s decentralized vision. By integrating TREAT into key functions such as rewards and liquidity provision, Kusama aims to streamline the ecosystem while promoting a safe and transparent environment for users.
Although the token has not been launched officially, its introduction marks a significant step forward in the ecosystem’s mission to expand its DeFi offerings and secure its position in the crypto space.
The recent announcement of TREAT has helped in developing market confidence in Shiba Inu (SHIB). Experts expect an increase in prices and liken it to the performance of the Dogecoin token. Moreover, TREAT has sparked much excitement in the community, followed by a recent increase in the burn rate of SHIB tokens.
Shiba Inu currently is selling at $0.0000273 for each coin up by 10% within the last 24 hours and 55% in the last week. SHIB remains to have a strong market presence with a market capitalization of $16 billion and trading volume of $3.36 billion within a single day. Such variations within the 24-hour price range of $0.00002437 to $0.00002794 show high investor engagement.
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