When 'Marebears met Shiba
GM #ShibArmy,
We are here to report on what happened in the Shiba ecosystem this week.
Seriously, there's a lot to unravel today.
If you are a hungry tech connoisseur, we have some crunchy tech articles for you.
Today's menu:
A wild 3D digital companion you can adopt, an update about the Shibarium network (with recent achievements and future burn plans), and an exclusive article from a fervent community member by the name of @NoOneHasSpoken about the state of Shiba tokens and what causes their demand.
Last but not least, we are featuring a story about a recent socially-engineered scam targeting crypto CEOs.
It's our longest edition to date. So serve yourself a cup of eggnog, make yourself cozy with a warm blanket, and enjoy.
For those who don't want to miss out on the NFT covers, subscribe to our Ghost newsletter to be the first ones to know about the next edition.
Which #Shibarium projects would you like to see next in The Shib?
Tell us on Twitter using #TheShib hashtag or in a thread at @shibtoken.
If you have any stories, initiatives, and/or projects that you deem newsworthy for the whole community or if you have pieces of advice for us to make this magazine a worldwide reference, take advantage of this opportunity.
Send us an email explaining everything at submissions@shib.io.
Spoiler alert: We are working on a Grandmaster Guide to Shiba Eternity with one of the top players.
1) ‘MareBears: Your New 3D Digital Pet Adventure
An insightful (and charming) review of 'MareBears, the interactive digital pets created by RSTLSS. Read more
2) Shibarium: Scalability, SRC-20, and the Big Burn
From 80 million transactions to the countdown of hefty SHIB burns, proof that Shibarium can operate at scale is unveiled here. Read more
3) The State of Shiba Tokens
A community contribution from @NoOneHasSpoken
(Send yours to us at submissions@shib.io) Read more
4) Crypto CEO Targeted by Telegram Scammer: A Wake-Up Call
A cautionary account of Showtime CEO’s experience with a Telegram hacker posing as an investment firm executive. Read more
‘MareBears: Your New 3D Digital Pet Adventure
An insightful (and charming) review of 'MareBears, the interactive digital pets created by @RSTLSSxyz
Remember the days of the epic Tamagotchi? Those tiny digital creatures you'd nurture and care for on a pocket-sized screen, ensuring they didn't meet their demise?
Well, imagine if you could relive those nostalgic moments with a twist. That's precisely what ‘MareBears have to offer, and they’re bound to make your heart swell with joy and excitement!
And, hey, let's talk about those collaborations. Shib, Paris Hilton, Ubisoft, bunnyHEAD, and Gremplin walking into a club – now that's a party we'd love to crash!
Introducing ‘MareBears: Your New Virtual Companions
Meet ‘MareBears by RSTLSS – these are fully customizable 3D digital pets brought to life by the incredible talent of lead artist Johannes Matsson. These adorable creatures are here to offer you a unique and interactive experience. Unlike their ‘90s counterparts, these digital bears can be cared for, nurtured, and adored from your computer, tablet, or smartphone.
You can mint yours on the website for 0.077 ETH ($174) or choose from the collection on OpenSea where each listing varies in price.
Have you seen the trailer?
These lovable ‘MareBears aren't your average digital pets. They, in turn, will watch over you. It's a bond that makes your virtual companions more precious than ever.
Unlike those pesky Tamagotchis, you won't need to worry about cleaning their poop. Thank goodness for small mercies!
Embrace Uniqueness with Collaborators and Traits, Including SHIB
‘MareBears are more than just cute teddies; they're a canvas for your creativity. For their launch, RSTLSS has partnered with Shib, the glamorous Paris Hilton, Ubisoft, the mysterious bunnyHEAD, and the enigmatic Gremplin. Together, they've created an array of traits and accessories randomly assigned to your bear.
These unique traits and accessories can be swapped and traded. The Shib trait is a special feature available only to those who hold SHIB in their minting wallet and purchase on primary marketplaces. This trait will give them access to exclusive benefits and perks when RSTLSS connects to the SHIB metaverse. Not only that, but the ‘MareBears will also be interoperable within the Shib ecosystem.
How cool is that – having your own customized Shib pet in your crypto wallet following you everywhere you go?
And here's another kicker: Collectors who complete the Paris Hilton traits set can snag an exclusive signed treasure, while Rabbids trait holders brace for mind-blowing opportunities.
Psst, the elusive Oracle traits? Lucky collectors, get your quarterly psychic fix!
Technology and Token Standards for Maximum Customization
Every ‘MareBear has 13 trait slots, offering endless customization possibilities. You can even change your bear's appearance with the interchangeable "BearParts." These unique traits and customizations aren't just images layered on top; the ‘MareBear transmuter morphs your bear's body, giving it a 3D form that changes based on its equipped traits.
You ask how? Well, ‘MareBears are ERC-6551 tokens, while BearParts are ERC-6059 tokens.
Seriously… that's like having the latest iPhone in the pet world.
Discover the Magic of Bear DNA
The heart of ‘MareBears lies in their DNA. There are 21 ‘MareBear DNA elements, each contributing to your bear's unique personality. These elements include everything from Ruby and Sapphire to Robot and Water. Your bear's DNA is determined when minted and becomes a part of its identity. The 10 Sacred Grails, however, are generated from a single pure element, adding an extra layer of rarity and uniqueness to the mix.
Who knew your digital bear could have DNA? I guess it’s not just humans who are complex creatures.
Unlock the Power of Your ‘MareBear
Your ‘MareBear can do more than just sit on your computer screen. It's like having a crypto-ATM in your pocket. They generate Transmutium (T+), a precious crystal that's worth its digital weight in gold. Hold a ‘MareBear and it's like having a mini miner working for you, digging up those digital riches.
And if you've got a RSTLSS KEY, you're basically a digital tycoon.
Talk about making money out of digital cuteness. Move over, Wall Street, it's time for Bear Street!
Immerse Yourself in the Virtual World
Each ‘MareBear also comes with its own VRM (Virtual Reality Mansion) avatar and resides in its customizable cave.
A Path to Art and Learning
But ‘MareBears offers more than just fun and games. Each ‘MareBear also grants access to a modular course on 2D and 3D creation, which is ideal for young emerging artists diving into the world of NFTs. It's an imaginative journey from creating digital assets to marketing, selling, and publishing them into games.
So, if you're considering introducing your child to the world of NFTs and art, this is the perfect stepping stone.
Start hatching the pet of your dreams (or nightmares?) because, to quote Charli Cohen, “Bears make the bear market bearable.” 🧸🐻❄️
Shibarium: Scalability, SRC-20, and the Big Burn
From 80 million transactions to the countdown of hefty $SHIB burns, proof that Shibarium can operate at scale is unveiled here.
In the cryptocurrency world, where blockchain technology is constantly being scrutinized for its challenges and FUD, all eyes are on those who are innovating solutions and breakthroughs.
In this article, we'll dive into Shibarium's recent triumphs, highlighting the rise of SRC-20-related transactions and the nitty-gritty behind the use of inscriptions and ordinals.
Breaking Chains and Taking Selfies with Limits
Just three months post-launch, Shibarium is making waves in the blockchain world! The platform has been smashing records with over 7.5 million daily transactions consistently in the past few days. The momentum skyrocketed last weekend, adding an astounding 30 million transactions, pushing the total count beyond 80 million since its inception – a feat you can marvel at on Shibariumscan.io.
Shibarium has welcomed over 30,000 new accounts within the past five days, pushing the total count to an impressive 52,000 and steadily climbing.
The Undercover Superhero of Scalability
What makes Shibarium stand out? It can juggle a massive number of transactions without breaking a digital sweat. While gas fees elsewhere soared to the moon by 1000%, Shibarium kept things affordable.
Amidst this transactional tidal wave, the transaction fees remain astonishingly low and the network remains fast. We're talking less than a penny for standard operations and a mere dime for the more intricate ones ($0.3 to mint an SNS to be exact). This is more than just numbers; it's a testament to the incredible scaling abilities of the entire Shibarium ecosystem.
Validators, the unsung heroes of this digital saga, reaped the rewards, earning substantial fees while ensuring users enjoyed smooth transactions.
What Are SRC-20, Inscriptions, and Ordinals?
The current inscriptions craze can be traced back to January 2023 when Casey Rodarmor introduced ordinals, a system for creating Bitcoin NFTs by inscribing data across individual satoshis, the smallest BTC denomination. The vast majority of inscriptions to date have been BRC-20s, an experimental semi-fungible token standard that arrived in May 2023 in a bid to approximate Ethereum ERC-20s on Bitcoin. Think DeFi tokens or meme coins, but created in batches atop inscriptions. SRC-20 allows inscriptions and ordinals on Shibarium.
Inscriptions are digital artifacts that belong to the blockchain. To create an inscription, one can embed various types of content, such as images, SVG, text, or HTML, into an inscription transaction. The transaction witness, which usually comprises signatures and other verification data, is where the content is stored. The inscription protocol calls the mechanism used to store data an “envelope”, essentially a script written in such a way that it won’t be run.
Polygon seems to be where most inscriptions are, thanks to @PolsMarket whose inscription "pols" has seen the most minters with 100k addresses.
Turning Spam into Sparkle: The Shib Burn Bonanza
To crank up more excitement, the Shiba Inu community is prepping for multiple SHIB burns – a spectacle where SHIB tokens go up in flames, signaling not just a reduction in circulating supply but a resounding commitment to the project's long-term value. One already happened ($70,000) last week and three more manual burns are set to take place on the 14th, 15th, and 16th of December.
No Outages, No Napping on the Job
What's Shibarium's secret sauce? It can handle a colossal transaction tsunami without a glitch – no outages, no delays, just seamless action. The stress test isn’t a theoretical daydream; it’s a bold declaration that Shibarium is the real deal, poised to handle the ever-growing demands of its user base.
As we anticipate more SHIB burns in the days to come, the community has a golden ticket to flaunt the might of adoption and reshape the financial future. This isn't just a tech milestone; it's a symbol of community strength, resilience, and an unshakable belief in the transformative power of blockchain technology, including transaction fees surpassing 1,400,000 $BONE. This substantial figure serves as concrete evidence of the lucrative rewards generated from massive transactions within the Shibarium network.
A Glimpse of the Future
As part of its continuous evolution and commitment to innovation, Shibarium announces a significant move in its upgrading process: the retirement of Puppynet on December 15th. Anticipating even greater strides, a new upgrade to the Shibarium network is on the horizon, scheduled for release in January.
Shibarium's journey from a promising L2 solution to a rockstar force is a testament to its unwavering commitment to innovation. The epic handling of stress tests, the budget-friendly transactions, and the impending burning of more SHIB all signal a new era for Shibarium – one that is set to redefine the future of blockchain adoption.
The State of Shiba Tokens
A community contribution from @NoOneHasSpoken
(Send yours to us at submissions@shib.io)
Dear Shibizens and Shibarians,
Let's talk about $SHIB, $BONE and $LEASH today, in particular what makes them tick. 🕰️
It will be a bit lengthy (ok - very lengthy 📜but also informative and hopefully worth your time - and if you make it to the end there is a cute Shiba Inu Ice Age squirrel waiting for you🐿️) so brace for impact. 🧠🤛
(If you don't have 20 minutes in peace and quiet to spare now - better bookmark this post and read before bed time - and if I save you a sleeping pill - thank No One in the morning) 💊😴🤭
A lot of us are feeling the pain with the rest of crypto market seemingly thawing from a long winter 🌱 while we are still in the "ice age". 🥶
In times like this the wisdom of Ryoshi always helps me.
"So this is where we are, price goes up people HAIL THE SHIBA, price goes down people cry ‘ADMIN WHY DUMP’."
As with any good or service - the price of a token is determined by supply and demand (not by the invisible Dev hand as some may think). 🤏📈
The supply of Bone and Leash are fixed with keys thrown out of the window. 🪟🗝️
So, there is nothing we can or should do here. I have already discussed in great detail the issue of supply of Shib and the Shib burns. 🔥
Do take your time to read it to get the complete picture (if you haven't done so already) here:
Now let us focus on the second part of the price equation 🔢- what influences the demand of a token (I thank ChatGPT for the general outline of the principles while the application of them to Shib ecosystem was No One's fault). 🤭
1. Market Perception and Sentiment 🤔
Public perception and sentiment can significantly impact demand. Positive news, endorsements from influential figures, and favorable regulatory developments can boost confidence and attract more investors.
What Devs did: Manny Pacquiao Foundation (@mpac_foundation ) utilizing #Shibarium. Influential enough? 👀 🫠
As crypto knows no borders - by providing support to amazing causes - Shib not only generates transactions on Shibarium - but more importantly - it creates a tangible positive impact on the world, reaching people who need it the most. Such causes benefit from @Shibtoken’s name and reputation as a force for good and #SHIBARMY power as much as Shib benefits from them. India Covid Relief Fund is another example of how $Shib made an amazing impact on the world (thank you @VitalikButerin for your big heart 💗).
2. Utility and Use Cases 🛠️
The utility and practical applications of a cryptocurrency play a crucial role. Cryptocurrencies that serve a specific purpose or offer unique features may have higher demand. For example, if a cryptocurrency facilitates faster and cheaper cross-border transactions, it may attract users seeking that functionality.
What Devs did: Built Shibarium with ±0.0002 $BONE transaction fees (at the time of writing) and the possibility for developers to subsidize gas fees for users of their dApps. Developing ShibaSwap 2.0, Shib the Metaverse (@mvshib ), Shiba Hub, Shiba Eternity 2.0 (@shibaeternity ) to name a few - with various uses of all ecosystem tokens to come.
3. Scarcity and Supply Limitations 💎
Many cryptocurrencies, such as Bitcoin, are designed with a capped supply. The perception of scarcity can drive demand, assuming that as demand increases and the supply remains limited, the value of the cryptocurrency may rise.
What Devs did: Shib, Bone and Leash supplies are capped by design at specific levels. Shibarium was built to convert part of Bone gas fees into Shib and burn it when the amount reaches $25k, making $SHIB a deflationary token.
4. Technological Development 👨💻
Advancements in the underlying blockchain technology or improvements in the cryptocurrency's protocol can enhance its features, security, and scalability. Positive technological developments can attract more users and investors.
What Devs did: Developed Shibarium L2 blockchain on top of Ethereum (in collaboration with experts from Unification @UnificationUND) using advanced features of Polygon network (@0xpolygon ) as the foundation and molding it into a network purposed for Shiba Inu ecosystem needs on which our future Shiba State will be built.
Future-oriented features like Shib Name Service and Shibdentity are ingrained into the fabric of the ecosystem, ensuring unparalleled privacy, data protection, and control in the hands of Shibizens and Shibarians while advanced DAOs, Councils and Institutions will form integral parts of the Shiba State governance and operations.
Shib the Metaverse being built on the latest Unreal 5.1 engine, encompassing the latest developments in graphics and VR technologies, will become the virtual homeland of our Shiba State, housing a myriad of businesses, entertainment and gaming activities as well as locales to socialize and ShibYards to truly call your second home. 🏠🥽
Partnering with leaders in fields of blockchain, AI, finance, gourmet products - utilising pioneering innovations to guarantee Shib ecosystem always stays at the forefront of technological revolution. 🤖
5. Regulatory Environment 👨⚖️⚖️
Regulatory developments and government policies can significantly impact demand. Clear and favourable regulations can provide a sense of security to investors, while uncertainty or negative regulatory actions may lead to a decrease in demand.
What Devs did: While Devs have no control over the regulatory developments - having amazing foresight - Ryoshi ensured that the Shib token was created in a way that until now allowed us to avoid being classified as security by the SEC and other authorities. Devs and their legal team are following latest developments to steer us through the legal minefield while developing all things Shib.
To learn more about SEC and securities, read this post:
6. Adoption and Integration 📲
The level of adoption and integration of a cryptocurrency into real-world applications and businesses can affect demand. Partnerships with established companies, acceptance by merchants, and increased use in various industries can drive demand.
What Devs did: Showcasing the Shib ecosystem and its benefits on the global stage (like Eth Toronto). Engaging developer community by running Shib hackathons with sizeable prizes.
Onboarding thousands of people on Shibarium seamlessly and effortlessly by using "The Shib" Magazine 📰 and the power of Shibarium to create Shibwallets 👛 for them with a sign-up process simpler than Facebook or LinkedIn and allowing them to mint their very first NFTs on Shibarium (even sponsoring the gas fees for doing so) while spreading the Shib word to masses and shining the light on various Shib community projects and personalities which are doing their bit to advance Shib development, adoption and education.
7. Market Liquidity ⛲️
Liquidity in the cryptocurrency market, which refers to the ease of buying or selling without causing significant price fluctuations, can impact demand. Higher liquidity often attracts more traders and investors.
What Devs did: By creating Shib token with high supply, low price point and a cute image, Shib founders ensured that the token has great affordability and appeal to millions of people owning the token on exchanges and in self-custody wallets. Shib is regularly among the most traded assets on CEXs and DEXs - ensuring a willing seller is always matched with an eager buyer. 🤝
8. Macro-Economic Factors 🎢📊
Economic conditions and macroeconomic factors, such as inflation rates, interest rates, and overall economic stability, can influence cryptocurrency demand. Some individuals may turn to cryptocurrencies as an alternative investment during times of economic uncertainty.
What Devs did: While Devs have no control over global economy (Yet... One day, Shiba State GDP will surpass many real-world countries... When G20? 😉), they are taking great care to follow all developments in this area and time the releases of the Shib ecosystem products to maximize the impact of such releases on Shib asset prices and demand.
9. Media Coverage and Hype 🎙️🗣️
Media coverage, both positive and negative, can significantly influence public perception and, consequently, demand. Hype and speculation can drive short-term demand but may not be sustainable in the long run.
What Devs did: Being the lead sponsor and hosting the closing party of Eth Toronto (or should I say Shib Toronto? 🤭), showcasing all areas of Shib ecosystem and its partners to crypto community and the world. Shiboshis on Times Square ad. Engaging with social media influencers, news outlets and the community. Launching "The Shib" Magazine which covers all ecosystem news, projects and initiatives. 📰
Now I want to remind us that Shib has been created with no external funding (apart from 10 Eth donated to Ryoshi by a wealthy friend), no hundreds or thousands of devs and supporting staff like in other corporate projects funded by venture capitalists - only a small team of volunteers who spend an incredible amount of their time and efforts to bring all that I just described above to life.
Then, suddenly, a deep appreciation for everything that they do appears and the "wen's" and the "why's" start to seem inconsequential, inappropriate, or even rude.
We are playing the long game here and daily price fluctuations will be a mere blip in the grand scheme of Shiba State.
Because Shib is by the people, for the people, and of the people.
No one has the keys to Shib, Bone or Leash.
They belong to all of us.
And they are our responsibility to protect, cherish and develop.
The Shib Devs are building the infrastructure of the future Shiba State. It is up to every single one of us to breathe life into it by building, utilizing and promoting it.
And Ryoshi said:
"The result of this is that you are responsible. When people ask me questions with expectations, I always send the question back to them. Ok when are you going to do this thing that you just asked me? This method makes some uncomfortable, because of inherent pre-womb entitlement issues in which man does not take responsibility for themselves, rather they look to an outside source to give them boom and if no boom, then to cast blame.
Also the greatest lover is later the greatest hater. Try not to love nor hate, just experience and do.
Thankfully, there are some that had the ears to listen and heard the call and effect became Shiba with us. Some are named and you know some are unnamed and equally important. What matters is that we are united in the core of the vision, being Shiba as the pure actualization of a decentralized and perpetual community."
We are no longer just #SHIBARMY - we are Shibizens of the great Shiba State! 🫡
So, let us come together and build up our nation, passing the helping paw to those that are in need and spreading the kind Shib word to the world. 🌍
Be Shiba! 🐕
Ice age will end and all the seeds that we are planting now will sprout like Jack's magic beans taking us to the sky.
Crypto CEO Targeted by Telegram Scammer: A Wake-Up Call
A cautionary account of Showtime CEO’s experience with a Telegram hacker posing as an investment firm executive
Alexandre Masmejean, CEO of Showtime Technologies, Inc., recently found himself at the center of a cybersecurity storm. He was targeted by Asian cybercriminals who managed to run malware on his computer, leading to a surprising call from the FBI.
The saga unfolded when Masmejean received an unexpected call from purported FBI agents based in Los Angeles. The agents informed him that his computer had been compromised by malware, urging him to take immediate action: disconnect from WiFi, rotate wallets, change passwords, transfer files to a hard drive, and wipe his compromised MacBook entirely.
Confusion and skepticism clouded Masmejean's mind as he grappled with the authenticity of the call. Were these indeed federal agents safeguarding his digital integrity, or were they clever scammers manipulating him into unwittingly divulging sensitive information?
The plot thickened as Masmejean recounted an earlier encounter with a Telegram user, "Chao Deng" (@/chaodeng), who claimed to represent the reputable investment fund HashKey and expressed interest in investing in Showtime. What seemed like a routine business inquiry took a sinister turn when the imposter suggested communicating through a VPN-friendly "alternative" video link. Masmejean, eager to not be tardy, unwittingly ran a script, falling victim to a classic cyber attack.
The FBI, acknowledging the modus operandi, suggested Masmejean contact them again with the Telegram handle of the attacker. However, skepticism from his crypto peers led Masmejean to seek advice from security expert Samczsun, who endorsed tightening security practices but urged him to independently verify the FBI's legitimacy.
A cautious Masmejean dialed the FBI's number directly, confirming the identity of the agents who had contacted him. The lady on the line, initially suspicious, matched the details and assured Masmejean that the cybersecurity investigation was genuine.
Following a laptop hard reset, password, and key rotations, Masmejean managed to secure his assets, largely stored in hardware wallets. Fortunately, no financial losses were incurred, but a stark warning from a crypto expert urged him to assume that all his data had been compromised.
The FBI agents informed Masmejean that hackers might exploit his compromised data to contact family, colleagues, and friends. Faced with this sobering reality, Masmejean shared his harrowing experience on X, serving as a warning for other public figures in the cryptocurrency world.
The incident underscores the need for vigilance and robust cybersecurity practices in an era where online threats loom large, even for those at the forefront of the crypto industry.
What’s up, Shib Army and Shibizens?
This week’s recap is a mix of incredible milestones for the community and a promising outlook on the future in various aspects. Let’s keep the momentum going! WOOF!
1. $SHIB Climbs to the No. 1 Spot with Over 80m Social Interactions
THIS JUST IN: $SHIB outdoes itself by being no. 1 this week by social activity! Last week, it was at the no. 2 spot, with over 25m social interactions. This week sees $SHIB with 85m interactions. Talk about an active community! If last week was a pawty, this week is a Shibamazing carnival.
2. Shytoshi Kusama Rides High: Named Among CoinDesk's #MostInfluential2023
Shytoshi Kusama gains recognition in CoinDesk's elite #MostInfluential2023 list. The platform asserts that the triumphant launch of Shibarium and the SHIB community emerged as a formidable force, leaving a lasting pawprint in the DeFi and Web3 world.
3. Shiboshis Take Off on Marswap: Stake and Soar!
Ready, set, stake! Your SHIBOSHI NFTs can now skyrocket on Marswap, yielding rewards in the form of sizzling $LEASH. Hurry, the reward boost orbits for the first 30 days – mint, stake, and let the interstellar gains begin!
4. Shibacals Drops Exclusive NFTs with a Rhyme Twist
Shibacals is hitting all the right notes with an epic collaboration with Busta Rhymes! Get ready for Celebrities NFT Collectibles featuring Chooky. These limited editions and authenticated drops are set for December 20th, 2024. Mark your calendars for a rhyming good time!
5. Hop into the Bunny Craze: CoinRabbit Lists $BONE for a Hopping Good Time
CoinRabbit officially welcomes $BONE to its burrow! The exchange now features Shiba Inu's native token, adding a dash of excitement to the crypto menu. Bunny ears up for a hopping good time in the decentralized trading world!
6. Shibarium Goes Up in Smoke: Token Contract Triggered!
Hold onto your virtual hats – Shibarium just experienced a burn token contract trigger! The crypto world is buzzing as Shib enthusiasts witness a fiery event. Keep your eyes peeled for what's next in the smokin' Shibarium saga!
7. Trade Your Favorite Meme Coins for a Chance to Win Big
Get ready for a crypto-licious holiday with Crypto.com’s Meme Coin App Campaign. Trade your favorite meme coins for a shot at winning a festive slice of US$15,000 in Bitcoin. The more you trade, the merrier your wallet! Deck the halls with Bitcoin! (Offer ends on Dec 25th.)
We are looking for Shib Superstars within the community.
So if you're a successful business owner, someone who is responsible for a community-oriented initiative, or an award-winning athlete, contact us here for a shout-out in a future edition.
P.S. You can also share your favorite memes with your own customized comment/reaction comment (we will credit your Twitter or SNS).
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