Shiba Inu Launches SHIB Name Service
The Shiba Inu (SHIB) ecosystem has achieved another milestone with the introduction of its SHIB Name Service. Shytoshi Kusama, the lead developer of Shiba Inu, announced this development on his platform and shared details on how users can purchase a new SHIB name.
Purchasing a SHIB Name
Kusama revealed that users can buy a SHIB name through D3’s app. D3inc is the company that partnered with the Shiba Inu team to acquire the ‘.shib’ Top-Level Domain (TLD). Furthermore, Kusama mentioned that users can enjoy a 69% discount on their purchases by using his coupon code ‘Shytoshi,’ although this discount only applies to the first purchase.
Before launching the SHIB Name Service to the public, Shiba Inu offered early access to those interested in purchasing a SHIB name. During this period, Kusama highlighted that early access allowed individuals to obtain exclusive items before anyone else. However, it is unclear how many people took advantage of this opportunity.
Partnerships to Strengthen the Ecosystem
The Shiba Inu team has been actively forming partnerships to enhance the Shiba Inu ecosystem. Recently, they collaborated with Zama, an open-source cryptography firm, to introduce a new security and privacy encryption standard. This initiative aims to improve SHIB’s security measures and foster ecosystem growth.
Kusama hinted at securing more collaborations for the ecosystem in the future. He also expressed that it is time for the team to unveil Shiba Inu’s true power, suggesting that further announcements are on the horizon.
Launch of $KNINE Token by Shiba Inu’s Partner
K9 Finance, a liquid staking derivatives (LSD) platform built on Shibarium, is preparing to launch its $KNINE token on March 7. This event is significant as it could introduce additional funds into the Shiba Inu ecosystem. The role of K9 Finance on Shibarium is crucial, as the LSD platform can potentially boost network activity and increase the number of SHIB tokens burned.
The launch of K9 Finance comes at a time when the Shibarium network needs a momentum boost. Since the beginning of the year, the network’s activity has significantly declined. While it recently surpassed 400 million total transactions, daily transactions on Shibarium have been averaging below 3 million. This is considerably lower than December 2023 when the network recorded over 7 million daily transactions.
Currently, SHIB is trading at approximately $0.00003038, experiencing a decline of over 14% in the last 24 hours according to data from CoinMarketCap.
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