Leicester On The Collapse Of The #SHIB Ecosystem, K9 Finance Reaction To Recent Problems (OOC)
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What incident prompted the discussion about the SHIB ecosystem?
see i told you the cologne scented book wasn't gonna cut it folks crypto talk.fm my name is leister i am your host i stumbled across again i tend to do this on the weekend i stumbled across a very interesting post that is in response to an incident that happened a while ago And I'm going to briefly talk about the incident. I didn't do deep coverage on the incident because in one of my older episodes, I said everything like it's a matter when the leash from the ship ecosystem, the leash started printing out of control. I was one of the first to do the coverage about the supply having increased and the message that came out somewhere that claimed it was a one-time 10% increase and that not that it was increasing 10% per day.
Well, that's been debunked. leash was printing out of control we're now the billions of tokens on leash when at one point it only had a hundred thousand tokens it's printing out of control and so i did that high level and i was one of the first to talk about this tells me it's a matter of time because leash and bone had been connected on liquidity pools. Bone has been in a chaotic mess leash, this issue here. And I said, ship's next ship's price is at all time low and dwindling. And then people were looking and seeing that a lot of the burn activity had dwindled. I don't really care about the burn activity. What I do care about is the root cause of why the burn activity went down, which is a liquidity crisis that points.
that told some analysis tools that what we're seeing is that a lot of the bow or excuse me, Shiv that's out there is largely in leverage trading. In other words, that there's not a lot of direct, you know, peer to peer decentralized. There's not a lot of real activity. There's not a lot of true activity and interest. And when the leash situation happened, they were doing some updates talking about a V2. And I covered some of the posts on called Daria. He did a blog and that was back in October. Well, that, that blog hasn't been updated since October. There's been no, I just looked today. There's been no updates since October. Maybe they're doing something in a discord somewhere, but I know they said that they were going to be pushing communications to public sites like their own and the blog.
and the newsletter, the newsletter just gives a bunch of fluff crap that nobody cares about. So I assume, I don't know, but I assume that things are not good in the leadership side of the whole Shibarium ecosystem, which might be a reason that Shytoshi scented book stepped down in the first place, because back in March, There was, he went silent. He went radio silent, dead silent. Nobody knew what happened. Even Lucy. And I'll get to that in a second. Had question what the hell's going on, but he's probably ahead of us or whatever the, you know, the whole scented book thing he did. And then everybody was questioning what's going on. And I speculated not having any evidence. I speculated some op-ed it's what I do.
That perhaps, just like with Kuma Inu, we were hitting that point where these leaders were going to start taking money and leaving. That was all speculation. I don't know.
How has the supply of LEASH affected the SHIB ecosystem?
Fast forward, I had to give you the preface because some people may not have been following this because they're not online all the time. You got lives, you got job, job, you got kids, you got things that matter, not this crypto crap. However, I've wanted to at least kind of catch you up that the shiv ecosystem has been in a chaotic mess for a very long time, very recently. And I want to say this was a couple months back. So the story with this canine finance business. March I want to say March 2024 is when the thing showed up and it was going to be an official project on Shibarium and I didn't go deep into everything that it was going to be doing the important points is that it was going to it was a validator it had its own token or has its own token it has a DAO it has all this framework but it was supposed to be offering these types of
you know, real products that were going to be powered by Shibarium, which people thought would add strength to Shibarium as a use case by having at least one that was proving out Shibarium as a blockchain, as a viable blockchain.
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Chapters
5 chapters
1
What incident prompted the discussion about the SHIB ecosystem?
0:00–3:27
2
How has the supply of LEASH affected the SHIB ecosystem?
3:27–8:12
3
What liquidity crisis is impacting the SHIB ecosystem?
8:12–14:02
4
How did the leadership changes affect the SHIB ecosystem?
14:02–19:42
5
What role does K9 Finance play in the current situation?
19:42–35:22
Speakers
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