SHIB announced the introduction of the Shibarium Financial Ecosystem and provided update on SHI and SHIBFE
SHI, SHIBFE Near Completion
According to an official Shiba Inu blog post, Shibarium, SHI, and SHIBFE, Shiba Inu’s key financial components, are now in development and nearing completion. “I hesitate to give any concrete dates at this moment,” Shiba Inu’s head developer Shytoshi Kusama writes in a blog post, “but I expect to see one or more of these technologies before the end of summer or very early fall.”
Shibarium is SHIB‘s Layer 2 blockchain that uses BONE and serves as the foundation for all SHIB initiatives in development. Shiba Inu’s stablecoin solution is denoted by the symbol SHI. The website says of SHI’s progress, “Timeline: TBD Finishing development and moving into testing soon.”
SHIB Introduces Shibarium Financial Ecosystem
The Shibarium Financial Ecosystem (SHIBFE) is linked to SHI Development and is concerned with SHIB’s financial offerings. Though many specifics about SHIBFE were not revealed in the post, Ryoshi, Shiba Inu’s unknown creator, expressed his thoughts on SHIBFE in the caption:
In addition to SHI being added as a weighted pool pair on CURVE on the ETH network, we expect a multitude of Forks of the financial basis onto the Shibarium, this includes AAVE, CURVE, COMPOUND, and of course ShibaSwap to name a few. A fantastic and immutable bridge of course is critical to all this.
Prior to completing these components and the Shibshire Blastaway, Shiba Inu also announced the Shibarium Contest. Shibshire Blastaway represents the decentralized result of SHIBFE and a completed Shibarium.
This concept of a multi-industry decentralized conglomerate using the SHIBFE is primarily based on Berkshire Hathaway, which asserts that its business is built on a range of industries.
Shiba Inu has also hired its first legal counsel, Craig Kessler Esquire (CK1), who formerly worked as a legal adviser for Amazon Studios/Prime Video and Hulu.
Craig will help to finalize contracts for the future Shib.io Metaverse Studio, Metaverse Advisory Team, and other agreements, such as NDAs, entertainment deals, and new partnerships.