Shiba Inu’s Role in Shibarium and Shiba Inu State
Shiba Inu (SHIB) is expected to play a significant role in the success of the layer-2 network Shibarium and the proposed decentralized Shiba Inu State. The recently published ShibPaper highlights the importance of SHIB in the ecosystem and the roles holders will play.
Key Points:
– The ShibPaper labels SHIB as the “core” of the ecosystem and one of the greatest currencies in history.
– SHIB will have a new and critical role in the governance of the Shiba Inu State, allowing holders to voice their opinions on important decisions.
– A user raised concerns about potential manipulation by malicious actors who could distribute 1 SHIB across multiple wallets and vote against proposals that benefit the ecosystem.
Shiba Inu’s Growth:
– SHIB has become one of the largest cryptocurrencies by market cap, currently ranking 16th.
– The team plans to maintain SHIB’s deflationary nature by burning tokens, decreasing its supply.
– The total supply of SHIB is 589 trillion, with 410 trillion already burned.
– Decreasing the circulation supply is expected to increase SHIB’s value due to increased scarcity.
– Shibarium’s success is also projected to boost SHIB’s value, as more trading activity on the layer-2 network increases its utility.
– Over 1 million wallets have been created on Shibarium since its relaunch.
Hot Take:
Shiba Inu’s role in Shibarium and the Shiba Inu State is crucial for its success. However, concerns about potential manipulation by malicious actors highlight the need for careful governance mechanisms. The team’s efforts to maintain SHIB’s deflationary nature and increase its value through supply reduction are commendable. While Shibarium’s rapid growth is promising, it remains to be seen how it will impact SHIB’s overall value in the long run.
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