SHI Stablecoin May Be Launched Soon, SHIB Team Hints, Sharing Crucial Details
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The official marketing lead of the Shiba Inu team, who goes by the pseudonym Lucie, has published a post with details of the SHI stablecoin, whose concept was first introduced by the mysterious creator of SHIB, Ryoshi.
Lucie also revealed when SHI is going to be released for public use on Shibarium.
What you need to know about SHI's release date
In her tweet, Lucie wrote that SHI is currently in the works and has not been released yet. She stressed that this stablecoin is “a crucial development within the Shib ecosystem,” designed to operate as a stable and decentralized currency within the ecosystem.
Ryoshi’s original idea was to peg SHI at $0.01. However, “the specific mechanism for achieving this peg has not been determined.” Currently, there are ongoing discussions within the SHIB community as to what potential collateral options should be used to make an effective peg for SHI.
According to SHIB lead Shytoshi Kusama and the team’s major developer Kaal Dhairya, “SHI is still under development and undergoing rigorous testing.”
Finally, Lucie shared a sneak-peak as to when the much-awaited stablecoin is likely to be launched: “The Shib ecosystem aims to integrate SHI when the infrastructure is fully prepared, ensuring stability and utility within decentralized finance.”
She added that in order to ensure that SHI is sustainable and secure, the SHIB team is studying the experience of other stablecoins, learning from the challenges they faced.
Yuri MolchanImportance of SHI on Shibarium highlighted by Lucie
Continuing her tweet, Lucie also shared several crucial points to clarify why SHI will be important for Shibarium. First of all, it will enable new users to engage in transactional activity on Shibarium and avoid risks related to crypto price fluctuations. They will be able to use SHI for various payments and remittances.
This stablecoin will also be used as a foundational asset in DeFi to power dApps, and to facilitate lending, borrowing and yield farming. Besides this, Lucie believes, SHI will be the perfect tool for attracting new users who fear crypto volatility.
Finally, SHI will enhance liquidity on Shibarium and ensure seamless, secure transactions, also making them more predictable. This will allow the expansion of the Shibarium user base, Lucie believes, and boost loyalty to the SHIB ecosystem in the long run.
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