Shiba Inu may be gearing up for an earth-shattering comeback following a plan to launch a stablecoin for the ecosystem later this year.
According to a blog post by Shytoshi Kusama, the lead developer of Shiba Inu, a group of independent developers in the decentralized network has been working on a stablecoin “SHI” which is set to be unveiled before December 31 if all goes as planned.
In the latest correspondence, the pundit stated that they were aware of the concerns after watching other stablecoins collapsing and billions of dollars getting wiped off the market. To avoid this, the developers were working on an experimental protocol of SHI in a bid to seal the loopholes that could place the said stablecoin at risk.
In May, the crypto market was sent into a spin after Terra’s stablecoin TerraUSD and its sister coin LUNA imploded, sending over $44 billion worth of crypto assets down the drain. The event, which was triggered by huge withdrawals of TerraUSD cast serious doubts over the...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...