Shiba Inu’s Stablecoin Launch to Enhance Shibarium Network

• The founder of Shiba Inu is said to launch a stablecoin in the Shibarium network soon.
• The coin, introduced in 2021, is currently under rigorous testing and development process.
• After launch, the SHI coin will play a pivotal role in the Shibarium’s DeFi infrastructure.

Good news awaits the members of the Shibarium community. The long-awaited stablecoin of the network is slated to be released soon. The coin was introduced by the founder in 2021 and was named SHI. Lucie, a marketing lead at Shib.io, stated that the stablecoin, will play a pivotal role in the development of the Shib ecosystem and enhance the Shibarium network. 

On Thursday, Lucie spilled a few secrets about the development of the SHI coin, in her X profile. She stated that the coin was targeted to be pegged at $0.01. Although other stablecoins like USDT and USDC are pegged at $1, the reason behind SHI’s $0.01 is kept under wraps. Further, internal discussions are focused on the potential options that can support the peg effectively.

After rigorous testing and development stages, the coin will be integrated into the Shib ecosystem. At present, the developers of the coin – Shytoshi Kusama and Kaal Dhairya – are heading the project. To prevent potential failures, they ensure that the stablecoin is safe, secure, and sustainable and does not face any challenges like its peers.  

Revealing the importance of the SHI stablecoin in the network, Lucie stated that the coin will stabilize the price in the market. This will enable the users to trade without the risks of fluctuating crypto. Further, it will enhance smooth and secure transactions on the platform. 

After the SHI stablecoin is launched, it will play a pivotal role in the Shibarium’s decentralized finance (DeFi) infrastructure. It will aid in the lending, borrowing, and yield farming in the network. Further, it will improve interoperability with other blockchain platforms, promoting cross-platform transactions.
By adopting SHI, users can improve their transactions without any impact on price. Further, it helps the Shiba Inu community to maintain a stable economic environment within the network.