Highlighting a stock exchange error regarding TREAT, the Shiba Inu ecosystem token, Shytoshi Kusama, the lead developer of Shiba Inu, stated in his post on X that Crypto.com gave false information to its users about the token.

This post quickly attracted attention in the crypto world and cleared up the confusion around the TREAT token, offering users a safe trading environment.

Shytoshi Kusama Is Not Happy With Crypto.com’s Mistake

“Unfortunately, Crypto.com published incorrect information about our yet-to-be-launched TREAT token, incorrectly assuming it had been launched,” the developer wrote in his post. This statement was related to a previous article on the crypto platform that directed users to a false Treat site.

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As clarified, the link provided was not about the Shiba Inu ecosystem. Kusama’s post also highlighted the SHIB community’s efforts to correct the issue by contacting the exchange.

Additionally, Shytoshi Kusama’s post added, “Be careful with this other Treat token (and the many fake tokens that will inevitably be created for fraudulent purposes).” It is worth noting that TREAT is the utility and governance token for Shiba Inu’s new privacy-focused Layer-3 blockchain.

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The post Shiba Inu Developer Reveals Cryptocom’s TREAT Token Mistake appeared first on Coin Engineer.

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.

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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