Shibarium marketing strategist and X-head LUCIE revealed that the Shibarium team is planning to launch a stablecoin; the financial instrument, dubbed SHI, is described as an "important development" in the Shibarium ecosystem. SHI is expected to "significantly strengthen the Shibabu network, but a launch date has not yet been determined.
UCIE recalled that the idea for a steblecoin was originally presented by Ryoshi (the anonymous founder of the #Meme Coin project) in 2021; SHI was to be pegged to 0.01 US dollars, but the mechanism for achieving this peg was never determined.
There are currently discussions in the community about possible collateral options to effectively support the peg. Developers Shitoshi Kusama and Kaal Dhairia emphasized that SHI is still under development and thorough testing, said User X.
LUCIE also stated that the official launch will take place when "the infrastructure is fully ready and will ensure the stability and utility of decentralized finance.
It also stated that the team is carefully studying the issue, learning from the challenges faced by other stable coin projects.
According to Shibarium's marketing strategist, the stable #token will bring many benefits to SHIBU users and contribute to the development of the entire #Shibarium ecosystem.
The expected benefits include price stability, increased utility, more users, easier entry for newcomers, integration with #DeFi , community empowerment, and risk mitigation.
As SHI evolves, it is expected that the stable token will bring many benefits to SHIBU users and contribute to the development of the entire Shibarium ecosystem. During this time, the meme coin has risen in value by more than 14%, reaching an almost two-month high of $000001717 (according to CoinGecko). Its market capitalization surpassed $10 billion for the first time since late July, making it the 15th largest cryptocurrency in the entire market.
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