Crypto:
30188
Bitcoin:
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% 4.16
BTC Dominance:
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Market Cap:
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Fear & Greed:
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Bitcoin:
$ 69.738
BTC Dominance:
% 54.4
Market Cap:
$2.44 T

Warning Issued for Fake TREAT Tokens on Shibarium

Treat Token

Developer DaVinci of the Shibarium team sent a warning to the community about hostile network behavior on June 2 that resulted in the production of a phony TREAT token.

DaVinci advised speculators, investors, and the Shibarium community that the token—named for an actual token still under development by the Shibarium team—has not been formally introduced. DaVinci made it clear that formal development on Shibarium had nothing bearing on any TREAT listings.

The creator of Shibarium clarified that in order to give their bogus token credibility, the hostile actors also used the official Shib.io address in their public posts.

“This token is not affiliated with Shiba Inu nor their upcoming privacy-focused Layer 3 blockchain,” a warning for the TREAT token currently shows on CoinGecko. Please DYOR before token trading.

Beware of Phony TREAT Tokens

Along with Shiba Inu BONE, LEASH, and the SHI stablecoin, the real TREAT token is one of five tokens that comprise the Shibarium ecosystem. It has not yet launched.

Though it will also be used to balance the SHI stablecoin, which is equally currently under construction, TREAT is primarily a reward token used to issue rewards from the Shiba Lands metaverse and the Shiba Eternity card game.

The planned privacy layer of Shibarium will also be powered by the TREAT token, therefore enabling further on-chain anonymity once the privacy layer becomes live.

While BONE is the token most used for utility purposes like paying gas fees on the network and the administration of the ShibaSwap platform, a Uniswap-type decentralized exchange and a necessary component of the Shibarium ecosystem, SHIB is Shibarium’s native token.

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Currently selling around $442, LEASH gives holders preference in land purchases and onboarding for Shibarium’s future metaverse. The low supply of LEASH tokens relative to other tokens in the ecosystem, such as SHIB, which has trillions of circulating tokens, adds to the token’s premium.

By comparison, with a little over half of the total supply in circulation, SHIB is not even worth a penny at the time of writing. Its total supply amounts to 999,982,506,876. LEASH has 107,647 tokens, practically all of which are already in use, as its maximum supply.

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