Shiba Inu lead developer, Shytoshi Kusama, denies involvement with Ethereum-based cat-themed memecoin Shiro Neko.
Shiro Neko and Shiba Inu Partners for Dual-Staking Initiative
Yesterday, the Shiba Inu ecosystem’s official X handle announced what it described as “crypto’s fiercest collaboration” between its team and Shiro Neko (SHIRO).
Following the partnership, Shiro Neko will introduce a dual-staking initiative after its highly anticipated launch on December 2. The initiative would be a major win for both SHIRO and SHIB holders, as they can stake their tokens together. Notably, users who stake SHIB will receive SHIRO rewards, while those who lock up SHIRO will be rewarded in SHIB.
Crypto’s fiercest collaboration just leveled up! 🐾@shiro will launch dual-staking following their highly anticipated December 2nd launch. A massive win for the #ShibArmy and Shiro Neko communities, uniting two of crypto’s boldest species—dogs and cats. 🐶+😺=❤️ pic.twitter.com/KW0ql6avLd
— Shib | TreatYourself Season (@Shibtoken) November 28, 2024
Kusama Reacts as Community Raises Concern About Shiro Neko Legitimacy
As expected, several Shiba Inu community members celebrated the move, believing the initiative could further drive SHIB’s adoption. However, some users expressed concern about the legitimacy of the Shiro Neko team.
Widely-followed community figure Danoshi sarcastically suggested to Kusama that the partnership between Shiba Inu and Shiro Neko “is not scammy.”
However, Kusama cautioned against mentioning his name in the conversation. He explicitly stated that he has no involvement with Shiro Neko, distancing himself from the project.
Early Engagement Between Shiro Neko and Shiba Inu
Concerns about Shiro Neko’s legitimacy come a month after Shiba Inu’s community-driven scam channel, Susbarium, issued a warning about the project.
Shiro Neiko, which initially sought a partnership with Shiba Inu last month, burned 5.58 billion SHIB in one transaction. Following the burn, the team behind SHIRO asked whether it could become friends with Shiba Inu.
A few minutes later, Susbarium encouraged Shiba Inu community members to be wary of new projects burning SHIB as a promotional strategy for their token. Although it did not label SHIRO a scam, Susbarium urged investors to conduct due diligence before investing in the token.
Several weeks after the warning, Shiba Inu officially has now partnered with Shiro Neko for its dual-staking launch, raising discussions about its legitimacy.
