- Shibarium developer DaVinci warns about a fraudulent TREAT token that is not affiliated with Shibarium’s official projects.
- The fake token misused the official shib.io address to appear legitimate, misleading investors.
- Official TREAT token, still in development, will be part of Shibarium’s reward system and privacy layer.
A Shibarium team member, DaVinci, has warned the community about a fraudulent TREAT token circulating on the network. This fake token, falsely associated with the Shibarium project, has caused concern among investors and speculators.
On June 2, DaVinci cautioned the Shibarium community that the TREAT token being marketed is not an official release. The scam token has been misleadingly advertised using the official shib.io address, creating confusion and potentially tricking investors. CoinGecko has responded by posting a warning that the token is not affiliated with Shiba Inu or its upcoming Layer 3 blockchain, urging users to conduct thorough research before trading.
Development of the Real TREAT Token
The authentic TREAT token, which is still under development, will play a crucial role within the Shibarium ecosystem. It is designed to serve as a reward mechanism for the Shiba Lands metaverse and the Shiba Eternity card game. Additionally, TREAT will help maintain the stability of the SHI stablecoin and power Shibarium’s privacy layer, enhancing on-chain anonymity for users.
Shibarium Ecosystem Tokens
The Shibarium ecosystem comprises several tokens, each serving distinct purposes. SHIB, the native token, is widely recognized, while BONE is utilized for utility functions like paying gas fees and governance on the ShibaSwap decentralized exchange. LEASH offers priority in land sales and metaverse onboarding, with a current trading price of around $442, reflecting its limited supply compared to SHIB’s vast circulation.
