Shiba Inu unlocked a new utility within the Ryoshi network. Being among the earliest Polygon CDK chains, implementing a custom gas token has paved the way for the broader adoption of SHIB. According to Ryoshi, utilizing SHIB as gas would provide a gateway to the full spectrum of the web3 landscape, including DeFi, NFTs, GameFi, name services, meme coins, staking, and governance. This represents a monumental step forward, offering Shiba Inu users the tools to explore new frontiers and possibilities, the team wrote.
Earlier, the SHIB-centric project announced its plan to launch its governance token, although an exact timeline for the release has yet to be known. Looking at the tokenomics, the Ryoshi token consists of an initial FDV of $12.5 million and a total supply of 200,000,000. This intricate distribution includes allocations for market making and liquidity [33%], the ecosystem [30%], the foundation [25%], the core team [10%], and a private liquidity raise [2%].
To tackle market volatility, a strategic vesting schedule would oversee a measured release of tokens. “Market Making and Liquidity: 100% unlocked at TGE. Ecosystem: 15% unlocked at TGE, followed by 2-year linear vesting.”
Shiba Inu’s Teaser Sparks Excitement
Shib members have praised the initiative, believing that “the move not only highlights the utility of Shiba Inu but also encourages more people to join and support the SHIB ecosystem.”
We are first movers. Our goal is to drive the adoption of Shib by delivering a full ecosystem of high-quality dapps, and by burning a percentage of each transaction cost. This means that the more activity on Ryoshi, the more Shib will be burned. Together, we can execute everything the SHIBARMY dreams of!
The popular meme token ecosystem is awaiting an upcoming project following a teaser from Shytoshi Kusama on Valentine’s Day. “Love is in the air. Prepare your hearts and wallets,” wrote the pseudonymous creator. While an official announcement is awaited, team members have revealed that it is related to a new use case of the meme coin’s in-house NFT project, Shiboshi. Notable collaborators, such as Kanpai Agency and the tech project Bad Idea AI, are part of this initiative.