The project behind the Shiba Inu (CRYPTO: SHIB) meme cryptocurrency has added a new token named "TREAT" to its ecosystem.
What Happened: TREAT, a new reward token, was announced by Shiba Inu lead developer Shytoshi Kusama in a July 6 update.
“Yes, you are reading it correctly. TREAT will launch as part of our ecosystem development,” said the developer in a blog post.
The SHIB community recently passed a proposal to cap minting BONE (CRYPTO: BONE) at 230 million tokens, reserving it as a reward for its community of validators.
According to Shytoshi, TREAT will serve as the reward token for everyone else in the SHIB community.
“Treat will not only serve this purpose, but will 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 [an upcoming SHIB ecosystem stablecoin]” said Shytoshi.
Currently, the Shiba Inu ecosystem has three tokens – the SHIB, BONE, and LEASH (CRYPTO: LEASH).
TREAT may have been in the works since SHIB’s creation, given it was first mentioned in the project’s original “woofpaper.”
“TREAT is another very special token, but the detailed Tokenomics will be revealed after the release of ShibaSwap with an update to this document,” wrote Shiba Inu developers at the time.
Comments made by Shytoshi in the SHIB community’s official Discord channel in October suggested that plans for the token may have been dropped entirely.
“TREATS are not real. Don’t think this token will be made. We are focusing on the Trifecta [SHIB, BONE, LEASH],” he had said then.
As the ecosystem continues to expand, it appears that the developers have now decided to go forward with the original plan of a four-token SHIB ecosystem.
Price Action: At press time, SHIB was trading at $0.00001035, 4.21% lower over 24 hours, as per data from Benzinga Pro.
