Shiba Inu has finally explained the meaning of the phrase CK1 that gets everyone talking in the SHIB community. Shiba Inu has named Amazon’s former legal counsel Craig Kessler (CK1) as its first legal counsel. Meanwhile, the official update for Shibarium has arrived. Here are the details…
CK1 mystery solved
The team behind the Shiba Inu (SHIB) the day before, “CK1” where several members of SHIBArmy competed to decipher its meaning. He finally explained the meaning behind the phrase. Shiba Inu lead developer, Shytoshi Kusama, made a statement about CK1 in his latest Medium post. Contrary to the community’s prediction that this phrase is an upcoming feature or proposal, the Shiba Inu team announced that “CK1” is an abbreviation for attorney Craig Kessler and will join the project as their first legal counsel.
Lots to cover in this article including Shibarium, Shi, ShibFE, Shib Narrative Shib MV and our incredible partnershibs (Welly, JR x SHIB) including our introduction to CK1. https://t.co/Afy2xQc3Ij
— Shytoshi Kusama™ (@ShytoshiKusama) May 10, 2022
Contract law specialist Attorney Kessler, Shib.io Metaverse Studio and Metaverse will handle the necessary contracts for all future Shiba Inu projects, including the advisory team and other contracts. The announcement adds that attorney Kessler will discuss the legal aspects of the project’s entertainment deals and other partnerships the dog-themed project will pursue in the near future. Prior to his appointment, Attorney Kessler was legal counsel for Amazon Studios and Prime Video. Attorney Kessler’s specialist knowledge in the entertainment industry is expected to come in handy in helping the Shiba Inu make significant successes on its journey to the metaverse.
Why does Shiba Inu appoint legal counsel?
According to the announcement, hiring a contract attorney for the project has become mandatory following the growth of the SHIB ecosystem. The tremendous growth of the Shiba Inu ecosystem has been seen with the release of significant upgrades and improvements less than two years from its inception. Building on the growth of the Shiba Inu, the team said:
We are now in a place where finding a lawyer specializing in contract law is critical. In this way, we can provide another layer of protection and ensure that [partnerships] directly benefit Shib and all related organisations.
Official update for Shibarium
Shytoshi Kusama has finally announced the completion time of expected projects including Shibarium, SHI and ShibFE (Shibarium Financial Ecosystem). The lead developer of Shiba Inu (SHIB) recently published a blog article on Shibaswap.com titled “Shibshire Blast away”. Through his blog post, Shytoshi provides a clearer picture of Shibarium, SHI and SHIBFE, along with the already known SHIB ecosystem tokens SHIB, LEASH and BONE.
Shytoshi Kusama officially confirms that the major financial components in development are nearing completion: Shibarium, Shi and ShibFE. However, he declined to give exact dates at this time, but gave a hint to the community that they can expect one or more of these projects to launch before late summer or early fall.
Just before revealing the timeframes, he also called the community for the first Shibarium Hackathon as he wanted the community to be involved and prepared before “Shibarium”, the true backbone of all SHIB projects, including SHI, ShibFE. The blog post states the following:
The Shibarium Hackathon will help educate the community about Shibarium and reward teams with funds to build on Shibarium.
Future Shiba Inu projects
In the blog post, the so-called “Shibarium” is the program for all Shib projects in development – specifically SHI and The ShibFE (Shibarium Financial Ecosystem) is the backbone. Shytoshi has confirmed that Shibarium is close to launch and could go live in the next few weeks or months. However, it has declined to give exact dates at this time. However, the lead developer of the SHIB ecosystem has assured the SHIB community that the team is ready for a safe and eventual launch very soon of a decentralized world where the community will be in control. The following statements were used in the blog post:
I refuse to give an exact date, but expect to see one or more of these technologies before late summer or early fall. As we near completion, we are developing strategies to engage the community, including the first Shibarium Hackathon!
According to Gossip Shib, the former official Growth Breed member of the Shiba Inu ecosystem stated that upcoming updates to Shibarium are expected to become public at the end of this month, i.e. May 25-31. The update will relate to “Documentation on Upgrading from Alpha to Beta”. However, he made it clear to the audience that such information is still rumored and unconfirmed.
When will SHI and ShibFE be operational?
SHI will be the official stablecoin of the Shiba Inu ecosystem, pegged at $0.01 (1 cent), unlike other stablecoins. Shytoshi Kusama confirms that SHI development is nearing completion along with Shibarium. However, he said that the release time is still unknown and has not been decided yet, as all that is known about the project is that development is almost complete and will soon be put to testing. He talked more about the launch of the Shibarium Financial Ecosystem (ShibFE) and said it was paired with Shi Development. But he has yet declined to go into details about this project.
