Shiba Inu, the second biggest memecoin, is launching a brand new ShibaSwap Reward Token, “TREAT”. This development comes after the SHIB Army voted to stop the mining of BONE at 230 Million in the most recent community proposal. Therefore, the TREAT token will replace BONE as ShibaSwap Rewards.
Shiba Inu lead developer Shytoshi Kusama recently posted about the SHIB community on medium. His post covered the progress details of all the projects in the ecosystem, including SHIBARIUM-Layer-2 Solution, SHI stablecoin, the Metaverse and the Shiba Collectible Card Game.
Adding to the news, he unveiled the launch of a brand new reward token, “TREAT”, as part of the Shiba Inu ecosystem development.
TREAT Will Replace the BONE Token on the Shiba Inu Ecosystem
According to the post, bone ShibaSwap (BONE) will no longer be a ShibaSwap reward token. The maximum BONE supply is capped at 250 million, and TREAT will be replacing the token as the ShibaSwap reward.
Recently, the SHIB Army proposed to halt the minting of BONE at 230 million and reserved the remaining 20 million BONE for validators and processes within Shibarium.
“Not only will TREAT be replacing BONE, but the new reward token will also derive rewards for the Metaverse, and the blockchain version of the Shiba Collectible Card Game, as well as for helping to provide balance to SHI.” Shytoshi Kusama said.
Shytoshi called the development of the TREAT token “a huge step” towards decentralisation. He assured the community that the tokenomics of TREAT would not disappoint Shiba Inu holders.
However, a limited supply of TREAT will be reserved for the most loyal Breed members that have placed their efforts into building confidence in the project by protecting and growing the Shiba Inu ecosystem.
On the development of the TREAT token, the lead developer of SHIB mentioned that the development of the TREAT token is quietly being done as the development team “doesn’t want to rush another token into the ecosystem” and “its use case must be well defined and outlined.”