Shiba Inu Lead Developer Shytoshi Kusama Expresses Optimism About TREAT's Potential to Accelerate the Transformation of Memecoins into Utility Tokens

The Shiba Inu lead developer expressed this view today during an exchange with Simon Dedic, CEO of blockchain advisory and investment firm Moonrock Capital.

Shiba Inu (SHIB) lead developer Shytoshi Kusama has shared his thoughts on the gradual transformation of memecoins into utility tokens, highlighting the role of Shiba Inu ecosystem tokens in accelerating this shift.

In a recent exchange with Simon Dedic, CEO of blockchain advisory and investment firm Moonrock Capital, on X, Dedic observed that memecoins are slowly becoming “fundamentally strong utility tokens.” He suggested that this shift might continue in the coming months, leading to a complete transformation of the memecoin market.

no surprise at all memecoins are slowly becoming fundamentally strong utility tokens and i believe this shift might continue in the coming months leading to a complete transformation of the memecoin market

Kusama’s Response

Kusama reacted to Dedic’s comment by indicating that the transformation of memecoins to utility tokens is occurring at a slower pace than he would like. However, he expressed optimism that Shiba Inu ecosystem tokens, especially TREAT, are accelerating this shift.

He emphasized that the upcoming TREAT token would combine its meme trait with its governance utility, potentially convincing wise investors about memecoins’ transformation to utility tokens.

Too slow in my opinion. But happy #TREAT as both meme and governing utility alongside the rest of the Shib Ecosystem is leading this shift in mindset for the wise. https://t.co/3gSLjMYEj9

— Shytoshi Kusama™ (@ShytoshiKusama) October 31, 2024

Shiba Inu Team Warns Against Fake TREAT Tokens

Kusama’s post about TREAT’s utility comes a few hours after he joined other Shiba Inu ecosystem team members in warning the general public that the token has not yet launched.

In a post on X, Kusama warned that all existing TREAT tokens in the crypto market are “tricks.” This suggests that the Shiba Inu ecosystem team has yet to launch the authentic TREAT token for public use. Hence, crypto investors should be vigilant and avoid trading or investing in any existing TREAT token until the official launch.

in the meantime join the Treats for Shib community on X and ask the mods anything TREAT related

The Shiba Inu marketing lead, Lucie, also issued a similar warning about the yet-to-be-released TREAT. She asserted that all TREAT imitations available in the market are not the “real deal.”

Lucie noted that while some investors may deliberately acquire the fake TREAT tokens, referred to as knock-offs, the team does not want unsuspecting investors to invest in the fake asset unknowingly.

Shiba Inu’s upcoming Layer-3 privacy blockchain will have TREAT as its official gas token, and people who stake SHIB on ShibaSwap will earn TREAT in return. Additionally, TREAT will be used as the official governance token in SHIB DAO, boosting its utility within the ecosystem.