Published on juni 4, 2024, 6:31 pm
Image source: Fox News
```json [ { "TLDR": "Shibarium developer warned against a fake TREAT token release, cautioning the community. TREAT is a legit Shibarium ecosystem token for in-game activities and privacy features. SHIB, BONE, LEASH are key tokens with different roles like gas fees, governance, and scarcity." } ] ```
A prominent member of the Shibarium team has emphasized the importance of traders applying best practices in light of recent events affecting the network. It was brought to public attention by DaVinci, a Shibarium developer, on June 2, that a fake TREAT token had been released due to malicious activities within the community. He cautioned investors and the Shibarium community against engaging with this token as it has not been officially launched by the team.
The warning specified that any listings related to TREAT were not associated with Shibarium’s official development efforts. Notably, malicious actors even went as far as using the official shib.io address in their attempts to legitimize their fake token. Consequently, a cautionary notice has been issued on CoinGecko about the fraudulent nature of the TREAT token, advising individuals to conduct thorough research before trading.
In reality, TREAT is among the five tokens forming part of the Shibarium ecosystem alongside SHIB, BONE, LEASH, and the SHI stablecoin. Designed primarily as a reward token for activities within Shiba Lands metaverse and Shiba Eternity card game, TREAT will play a key role in balancing the SHI stablecoin – an asset still under development. Furthermore, it will power Shibarium’s forthcoming privacy layer offering users enhanced on-chain anonymity upon its unveiling.
SHIB serves as Shibarium’s native token while BONE is favored for utility functions such as covering gas fees and governing the ShibaSwap platform – an essential component of Shibarium’s ecosystem. LEASH provides holders with advantages in land transactions and access to the upcoming metaverse, currently priced around $442 due to its limited supply compared to other tokens like SHIB.
Unlike SHIB which is valued at less than one cent and boasts a total supply exceeding trillions of tokens, LEASH has a maximum supply capped at approximately 107,647 tokens – nearly all already in circulation. This scarcity contributes significantly to its price point compared to other assets within the ecosystem. This news highlights both opportunities and risks present within cryptocurrency projects like Shibarium.
Original article posted by Fox News
