The lead developer of ShibaSwap, Shytoshi Kusama, provided new updates about the Shibarium network early this week. For the uninitiated, Shibarium was launched on August 16, 2023, but it failed to help scale SHIB’s price up. However, in the latest blog post, Shytoshi provided details about implementing ‘ShibPaper’ and called it the foundation of the network and the ecosystem as a whole.
So what is Shiba Inu’s ShibPaper, and what does it signify? In this article, we will highlight what ShibaPaper means and how it will be implemented in the SHIB ecosystem.
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Shiba Inu: What Is ShibPaper?
The ShibPaper is written by Shytoshi Kusama, and the developer described it as “the most comprehensive decentralization document the world has ever seen.” In simple words, ShibPaper is just a whitepaper that outlines the plans for Shiba Inu’s ever-growing ecosystem. It will act as a document that will guide the process of the ecosystem creating a “Shiba Inu State”.
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The post also stated that ShibPaper will have a Canine Code of Conduct and a Constitution that governs the whitepaper called Hound. Shytoshi called the ShibPaper a “foundational script” and every user on the network will be “Shibizens”.
In addition, the ShibPaper suggested “potential successors” to governing tokens such as SHIB, Bone, Leash, and the upcoming Treat token. The Shibarium network will support the current and upcoming tokens with tangible assets, according to the blog. It also added that high levels of “transparency” will be “overseen via blockchain smart contracts,” to maintain financial integrity.
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“We will start implementing the ShibPaper so that this year, we can have more than just a framework,” wrote Shytoshi. The developer added, “A working system for governance and management that proves our perpetual decentralized digital nation-state is real and here to change the world,” he summed it up.
