Shiba Inu’s main financial components, SHI, Shibarium, and SHIBFE near completion

Stablecoin SHI, Shibarium L2 for Ethereum, and Shibarium Financial Ecosystem (SHIBFE) are currently in development, the official blog post reads.

A stock photo featuring smiling Shiba Inu dog on the yellow background.

“I refuse to give any hard dates at this time, but I expect to see one or multiple of these technologies before the end of summer or very early fall,” wrote Shytoshi Kusama, the pseudonymous project lead of Shiba Inu.

According to the announcement, SHIB holders will “have an incredible stable coin solution” in the form of SHI. The timeline is to be determined yet, as SHI finishes development and will soon go into testing. Shibarium, SHIB's Layer 2 blockchain utilizing the BONE governance token, is designed to serve as a backbone of the whole ecosystem and provide a scaling and low-cost solution for “a myriad of projects.”

The SHIBFE is said to be paired with SHI development and pertained to all future SHIB platforms and financial products. Although many details weren’t revealed about the SHIBFE's role in the ecosystem, Shytoshi quoted the post by Ryoshi, the anonymous SHIB creator.

“in addition to SHI being added as a weighted pool pair on CURVE on the ETH network, we expect a multitude of Forks of the financial basis onto the Shibarium, this includes AAVE, CURVE, COMPOUND, and of course ShibaSwap to name a few. A fantastic and immutable bridge of course is critical to all this.”

Shytoshi Kusama also announced the first Shibarium Hackathon, which will educate the community on Shibarium and reward developers who build on the new L2. The said timeframe for the event is weeks to months.