• Shiba Inu developers have unveiled a futuristic concept artwork to commemorate the community’s metaverse journey.
• Lead developer Shytoshi Kusama hints at mysterious bullish milestone stoking Shiba Inu adherents.

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The ongoing crypto winter may be grueling for Shiba Inu’s (SHIB) price but certainly not for its ecosystem’s expansion efforts.

In its latest move, the team behind the Shiba Inu metaverse development has unveiled “Tech Trench”- a new concept artwork aimed at showcasing how its metaverse will look like. In a blog post on Wednesday, the team noted that the idea of the Tech Trench hub was to create an immersive experience showcasing the different stages of development for certain technologies from ancient times to the current hyper-technological world. The blog post read;

This hub allows for a deeper connection with cultural reassurance and lessons learned from the innovative and daring journey SHIB as a project & community has endured,

Further, the hub which was created in partnership with leading visualization studio “The Third Floor (TTF)” will help preserve and showcase cultural learning experiences for all those who enter and shape the future of decentralized ecosystems and education foundations.

The Hub, which is represented in black and white colored sketches features architectural designs taken from over six world locations including Yale and Princeton universities in the U.S., Otemon Gakuin University and Mode Gakuen Cocoon Tower in Japan, and Rolex Learning Center based in Switzerland.

The latest reveal comes even as developers leapfrog various projects aimed at becoming part of the Shibarium- Shiba Inu’s native metaverse. Announced in March this year,  the Shibarium  Metaverse will be the culmination of Shiba Inu’s history as a community, virtually displayed

Earlier this week, the team unveiled “Scenic Dunes” a new concept art that would serve as an oasis of sorts, featuring a massive shaped environment of an adventurous and modern place, complete with glitzy architecture and cooling waters.

Today, Shytoshi Kusama, the ecosystem’s lead developer who recently stated that he is focused on Shibarium hinted at a mysterious but potentially bullish milestone.

“Initial design approved. Now I can double down. Let the debris show itself as the flow of kindness and truth washes over the world,” Kusama tweeted, suggesting some big news on Shibarium or the Shiba Eternity 2 mobile game.

SHIB poised for a market rally

Meanwhile, despite recent announcements by Shib developers stoking investors, the price of SHIB has remained suppressed as the crypto contagion rabbit hole deepens. Despite rallying in late October, the top meme token has slumped roughly 12 percent in the past week.

Price could however rally as the market cools off and the Shibarum launch nears. At press time, SHIB was trading at $0.000009012 after a 1.27 percent drop in the past 24 hours.

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First-ever decentralized cryptocurrency exchange (DEX) on Cardano and Milkomeda platforms, MuesliSwap, proposes a new concept to make yield farming more attractive and sustainable in a bearish market.

MuesliSwap unveils Organic APR: Yield rates grow together with number of stakers

In an announcement shared by the MuesliSwap team on Dec. 6, 2022, the concept of Organic APR was unveiled to community enthusiasts. In general, it allows the APR to grow with the growing number of people contributing to the pool.

We have developed something special for you! Organic APR

Introducing Organic APR in one sentence:

The more people contribute to a pool, the higher the APR

Why do we need it? And how would this work? Check out this thread for more information.

— MuesliSwap (@MuesliSwapTeam) December 6, 2022

Per the statement, the new concept is set to address the problem of fair yield distribution. In the vast majority of DEXes, the APR for early birds drops as more and more DeFi enthusiasts join this or that pool.

As such, DeFi yields are vulnerable to inflation processes so that the earliest members of the yield farming processes have no incentive to invite the next generation of users.

To adress this disrepancy, MuesliSwap proposes the concept of “Organic APR” designed to increase APY rates together with the increased number of stakers. For instance, as a pool reaches 500,000 ADA in TVL, its stakers can enjoy 7.3% APR. If the pool’s TVL scales by 10x, the APY also spikes to 73%.

“Emission is capped”: MuesliSwap team addresses concerns

While the majority of MuesliSwap enthusiasts appreciated the new concept, some of them were skeptical and opined that the full scheme would drain LP token reserves.

To address this controversy, MuesliSwap developers made it clear that the total emission level will be limited:

More participation = faster drain. But emission is capped. The maximum emission will never be exceeded and can give a minimum (!) duration for the yield farming. Transparently displaying the remaining reserves + giving an estimate based on the current APR could be another option.

As covered by U.Today previously, after the Vasil hard fork was activated, major DeFis on Cardano (ADA) registered an inflow of new users.

MuesliSwap, being the flagship protocol of the segment, witnessed 788% growth in user count in a matter of weeks alone.

• The Shiba Inu team has released the first concept art of Dunes, another hub in its Metaverse.
• Shiba Inu has previously released concept art for other hubs in its Metaverse.

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Shiba Inu has released the first concept art of another hub in SHIB: the Metaverse (Dune), according to a new announcement from the SHIB’s Metaverse development posted on the network’s blog. Dune is the newest hub in the SHIB: the Metaverse hubs.

The SHIB Metaverse development team remarked that it released the Dune concept art to share the best reference points that align with the creative aspect and outlook of the hub.

All the concept artworks for SHIB’s metaverse hubs are usually displayed in black and white images, and the Dunes hub is no exception. The SHIB team notes that the black and white images will enable users to have a feel of the integral role the hub will play in the Metaverse.

In the blog post for the Dune announcement, Shiba Inu explained that “abstract artwork such as black and white sketches connotes a powerful, strong and physical potential.”

The Dune design inspiration

According to the announcement, several natural architectural masterpieces inspired the Dunes design concept artwork. Such locations include the Sahara Desert; the Sand Dune national park in Colorado, US; Namibia’s Sossusvlei Park; the Pyramids, Egypt and Dubai city (UAE).

The development team also shared its inspiration source for the flora in the Dunes hub. The sources were Thorns, Welwitschia, Twigs, Nara Melons, Bushel, Camel Thorn Tree, and Twigs. According to the team, Elephants, Dune scorpions, Giraffes, Cheetahs, and Sidewinder Snakes inspired the Dune’s Fauna.

Shiba Inu also shared how landowners in the Dune hub will feel. It said, “imagine yourself looking at wind-shaped mounds of sand, with more smooth sand particles adding to the already available mounds of sand. At the same time, you’re feeling a heat sensation.”

Then, when a closer look reveals a unique oasis that is very extensive and adequately designed. It is similar to a modern, adventurous place with cooling waters and lots of shiny architecture.

Shiba Inu also revealed that it would be hosting a fireside chat on Thursday, October 27, by 8 pm EST. The chat will take place on the official shibtoken discord channel, and potential Dune hub landowners can learn more about it and other details of the dog-themed project.

Shiba Inu and its Metaverse

Releasing a concept artwork for SHIB Metaverse’s Dune hub isn’t a first. SHIB: the Metaverse had previously released its first concept artworks for its other hubs, such as rocket Pond, Canyon, and WAGMI Temple.

SHIB’s Metaverse project is one way Shiba Inu proves that there is more to this cryptocurrency project than being a memecoin. Hence, the team is making efforts to ensure the project’s short- and long-term success.

For instance, it has hired some of the leading experts in the entertainment industry to promote the SHIB: the Metaverse project. Nevertheless, the good news has yet to impact SHIB’s price positively. It is down 0.48 percent in the last 24 hours and trades at $0.000010.

Shiba Inu has released its first concept art to break into the Metaverse realm. With several whales now showing interest, there is a possibility that the altcoin’s future could be positive.

Shiba Inu has been trying to make its mark on the Metaverse ecosystem for quite some time now. From hiring top talent to partnering with major studios, Shiba Inu has been in the process of building the right team to expand into the Metaverse. 

With the launch of their new concept art, it seems like Shiba Inu has started progress with the introduction of the rocket pond concept art. This concept art is meant to outline what the future of the Shiba Inu Metaverse is going to look like.

In fact, according to the blog released to announce the same,

“Rocket Pond brings the feel of a hidden resort inside of mountains, The YMCA or KOA camping vibe with wilderness around you mixed with modern luxuries/touristy elements.”

Now, it remains to be seen whether the Shiba Inu team is able to deliver on its promises and meet people’s expectations.

However it’s not just Metaverse enthusiasts that have been showing interest in Shiba. In fact, whales have taken a keen interest in the altcoin and everything associated with it as well.

According to whalestats, for instance, Shiba Inu tops the list in terms of tokens held by the top 2000 ETH whales. At the time of writing, whales seemed to be holding $142,619,591 worth of $SHIB. 

The hype around the memecoin has passed over to the social media landscape as well. Over the last 7 days alone, Shiba Inu has seen an increment of 59.64% in its social mentions and a 2.3% spike in its social media engagements.

Now, although Shiba Inu has managed to create quite a stir in the social media space, there still are a few areas of concern. Ergo, investors need to be aware of these before investing in the memecoin.

Still a long way to the moon

One of the factors that could make investors cautious is Shiba Inu’s volume.

As revealed by Messari, its volume has depreciated by -91.83%% over the last 7 days. Furthermore, its market cap dominance has gone down by 3.68% on the charts too. 

Shiba Inu also hasn’t managed to make its mark in the DeFi space. Shiba Inu’s DeFi protocol Shiba Swap has not been having a good run of late, as its TVL has been on the decline since April and hasn’t managed to bounce back since.

Shiba Inu [SHIB] was trading at $0.00001186, at the time of press. While the price appreciated by 1.12% in the last 24 hours, SHIB’s price also fell by -8.58% over the week.

Despite the fact that there are some positive factors in favor of Shiba Inu [SHIB], traders are advised to exercise caution as memecoins can be subject to high volatility. Hence, readers are suggested to do their research before getting into a trade. 

The meme cryptocurrency Shiba Inu [SHIB] has been quite popular this year. The network also raised its utilities, but initially, it was because of its rising prices.

The Shiba Inu [SHIB] network has been performing exceptionally well lately. Meme coins are gaining popularity despite the growing acceptance of other cryptocurrencies.

Among the popular meme coins, SHIB has been on top in terms of sheer development. One of the major developments was the announcement regarding the SHIB Metaverse. The SHIB community has been bracing themselves for the update for so long.

But that’s not all. To ramp up the development, Shiba Inu recently partnered with one of the top Hollywood studios, The Third Floor. Here is a look at some of the featured concept art for Shiba Inu’s Metaverse, as revealed by SHIB.

The Shiba Inu team shared fresh concept art for the future Shiba Inu metaverse on Twitter. Images that have been published depict a sublime Zen-like ambiance with traditional Japanese buildings.

The Temple of Heaven in Beijing and Swaminarayan Akshardham in New Delhi, two of the greatest architectural marvels in the world, served as inspiration for the SHIB WAGMI Temple, which was just unveiled for the Shiba Inu metaverse.

The unveiling was a follow-up of an evening fireside chat that happened on Discord on September 8. The team also thanked the Third Floor for their work, as they are clearly assisting in ramping its metaverse experience to the next level.

The SHIB Metaverse is one of the most sought-after updates by the SHIB team. The never-ending support of the SHIB community has also been serving the meme coin pretty well. The group has also hired elite talent who has experience producing films, online series, and video games.

SHIB: The Metaverse may be visually stunning and stand out from the competition, considering the size of the hiring. But the real impact can only be assessed once the metaverse goes live.

• Shiba Inu’s development arm shares more details about the WAGMI temple.
• The network’s metaverse team will introduce Fireside chats throughout the creative process.

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The development team of Shiba Inu has revealed more details about the idea of the upcoming metaverse project (SHIB: the metaverse WAGMI temple). WAGMI is an acronym for We’re All Gonna Make It. The latest post on the Shiba Inu blog stated that the WAGMI temple would create a zen-like environment such as spiritual connections to the world, calm meditation, sensation, and natural beauty.

Shiba Inu also revealed black and white images (sketches and artworks) for the soon-to-be-launched WAGMI temple. The concept behind the images is to show a strong, powerful, physical, and connected world. The aim is to share important feedback with the SHIB army (the Shiba Inu community).

Part of the feedback would include the roles of the WAGMI temple in the Shiba Inu metaverse project. According to the blog post, the metaverse team used inspiration from various sources to design the architectural concept for the WAGMI temple. Such inspiration sources include New Delhi’s Swaminarayan Akshardham and Beijing’s Temple of Heaven.

Shiba Inu developers create Fireside chats

Shiba Inu also revealed that its metaverse team would create Fireside chats while creating the metaverse. The Fireside chat will enable community members to ask questions, suggest ideas, and express their worries about the project.   Shiba Inu will host the chats on its official discord channel. Then, it will roll it out on its other platforms.

The network will host the first Fireside chats for the WAGMI temple on September 8, 2022, by 8 pm EST. Shiba Inu’s introduction of a WAGMI temple is another way it proves that it’s more of a utility project and not just a meme coin. It is worth noting that SHIB developers have been creating the core structure for its metaverse following the Third-Floor announcement. The developers said this core structure is an infusion of the network’s best practices.

SHIB price and SHIB tokens burn

The 7-day chart of SHIB’s price shows a 9 percent decline even though the network burned more than 3.7 billion SHIB tokens in August alone, according to the ShibBurn Twitter handle.

In the past hour, there have been a total of 751,082 $SHIB tokens burned and 1 transaction. #shibarmy

— Shibburn (@shibburn) September 3, 2022

While the price dip created fear among the SHIB army, developers are making efforts to improve the burn policy. Investors seeking long-term returns would consider an improved burn policy a positive sign. One such positive sign is Uniswap’s support for the burn protocol. The burn process aimed to boost SHIB’s price. Hence, the support from Uniswap should have the expected positive effect on the SHIB price.

The metaverse projects will also boost the native token’s price. Towards the end of last month, SHIB’s market value realized value ratio indicated a downtrend. However, this trend is starting to change, suggesting that SHIB’s price might likely go up in the next few days. Nevertheless, recent data from the on-chain analytics platform, Santiment, showed a rise in the number of active daily addresses (from 4,600 to 6,200) for SHIB tokens.

dReps will vote on the vast majority of proposals within Project Catalyst and enhance the quality of decision making within each Fund

At a recent Project Catalyst Town Hall, IOG announced the concept of delegating your voting power, the role of Delegate Representatives (dReps) and invited those keen to get involved to express an interest. There has been a fantastic response and we’re now excited to share more details.

In less than a year, Project Catalyst has become the world’s largest decentralized innovation fund. It is a focal point for ongoing development and sustainable innovation, driven by the Cardano community. Fund8 had nearly 1,000 proposals put forward, and Catalyst is now on track to fund over 2,100 proposals during 2022. That is staggering!

This continued expansion of the Cardano ecosystem signals fantastic news for the Cardano community as a whole. However, exponential growth poses a challenge though. As the number of proposals increases, so does the community’s responsibility to both review and vote upon them. To ensure that all proposals gain the attention they deserve, and to facilitate continued growth, a new system is required to ensure sustainability.

Delegation enables ada holders to delegate their voting power to one or many dReps. This allows the more passive voter a chance to continue to have their voice heard, but now across more proposals than they could personally read and evaluate.

These dReps will vote on the vast majority of proposals within Project Catalyst, and in turn will enhance the quality of decision making within each Fund. dReps will coordinate and form policies together, source and review data, consult with experts, and ultimately vote on an array of projects and topics that the community has brought forward.

The introduction of dReps is another exciting step forward as the community continues to learn and grow. There will be more to share and discuss over the weeks and months ahead as we roll out delegation into future Project Catalyst funds. To bolster inclusion and diversity, IOG is reopening interest in joining the first dRep cohort.

Over the coming weeks, IOG will be organizing a series of workshops that go into greater detail on what it means to be a dRep, the incentive model, and what impact dReps will have on Project Catalyst.