“We believe through the power of collective decentralization we can build something stronger than a centralized team ever could create.” – Ryoshi, 2020
The genesis of Shiba Inu can be traced back to Ryoshi, the mysterious creator of the token who set forth a pioneering vision for what was later—still is—dubbed the “Doge Killer” in the crypto world. Unlike any other token with similar humble beginnings that wanted to make a staggering impact on the crypto space, Shiba Inu maintained its status and popularity through the continued engagement of its solid and loyal community, strategic partnerships, and true-blue doggedness (no pun intended) that made it stand out among other meme-based tokens. Was this all part of Ryoshi’s plan? Let’s take a trip down memory lane and find out.
As most of you might know, before bidding goodbye to the crypto community and leaving social media, Ryoshi outlined far-reaching goals for the token and its ecosystem. In this article, we will delve into these and evaluate how closely the current developments align with Ryoshi’s original vision for a decentralized network. Let’s deconstruct the layers that transformed SHIB, turning it from a meme into a movement.
An Experiment in Decentralization
Ryoshi’s vision for Shiba Inu can be summarized as the creation of a decentralized ecosystem that empowers individuals to take control of their financial destinies. At the core of this vision is the belief that financial systems should be accessible to everyone, regardless of their background or financial status. Ryoshi envisioned a community-driven project that fosters collaboration and innovation, with a strong focus on creating value for its users.
Ryoshi wanted users to have a decentralized token that would become a beloved and widely-used crypto asset. He wanted to bring exposure to the Shiba Inu breed and showcase the loyalty and friendliness associated with the dog, while also providing a secure and innovative platform for users to trade and interact with the token. Ultimately, he hoped that Shiba Inu would become a household name in the greater crypto community and reshape the way people think about digital assets.
The enigma of Ryoshi’s being has captured many people’s attention even though Ryoshi didn’t leave so much as a clue as to who they were, saying that if anybody were to find out about them, it would be “underwhelming”. Other than the roadmap he left with Shytoshi Kusama, the pseudonymous visionary initiator who’s leading the charge in realizing Ryoshi’s prospects, nothing more is known about the Shiba Inu founder’s identity.
“Ryoshi is the greatest mystery in DeFi.” – Overlords, Medium.com
Shib: The Journey of a Decentralized Community
Shib emerged as a result of the community’s need for a system crafted for decentralization, enabling it to flourish and follow in the footsteps of its predecessors. The Shib Paper states, “As we establish ourselves within this new paradigm of community, we anticipate its impeccable design will draw attention. Thus, we stand on the precipice of becoming one of the largest, most diverse, and most powerful communities on the globe.” And draw attention it did.
Strategic Partnerships: Building Together to Create an Impact
“Shiba is Shiba. The only way someone is involved is if they claim Shiba. And if so then they are that.” – Ryoshi, 2021
Shib has made impressive headway in making Ryoshi’s dream of decentralization a reality by actively seeking partnerships with leading projects, industries, and brands worldwide to grow its diverse community across the globe. In line with Ryoshi’s aspirations, Shib has become an anchor for innovation by partnering and co-marketing with several top-of-the-line tech service providers that are also working toward decentralization in some way.
Some examples of these partnerships include ZAMA, an innovative open-source cryptography company specializing in fully homomorphic encryption (FHE); D3, an identity service working with SHIB to secure a .shib TLD through ICANN in the upcoming application window; and K9 Finance, a liquid staking derivative platform on Shibarium that serves as the building blocks of DeFi within the network. Through such collaborations, the core team at Shib is striving to create a more decentralized ecosystem that promotes inclusivity, innovation, and financial sovereignty for its community.
A Decentralized Ecosystem: Synergizing SHIB Components and Systems
Since Shib’s inception, the developers have gradually developed and continue to build products that represent the core of decentralization. One of Ryoshi’s articles detailed specific goals that served as the starting point for the dev team’s work. This includes Shibarium, which Ryoshi wrote about in May 2021. It was officially launched in August 2023 at ETHToronto where Shib was one of the sponsors of the event.
Another important note from one of Ryoshi’s final messages is about the core ecosystem tokens SHIB, LEASH, BONE, TREAT, and SHI. As part of Shib’s journey toward a decentralized future, all these tokens—the existing ones and those that are still in development—are projected to offer improved functionality and enable the community to conveniently access products and services within the ecosystem.
Self-sovereign identity is another crucial aspect of a decentralized ecosystem, something that Shib is actively pursuing with initiatives like a name service through D3 (as mentioned above) under its Shibdentity umbrella. There’s also the Doggy DAO which powers community voting, transparency, and stewardship, which enables the community to make decisions and be accountable for the decisions being made. There is also, of course, Shibaswap, which Ryoshi referred to as a “fully decentralized endeavor” that they have entrusted to the dev team.
Having a thriving financial ecosystem on Shibarium also means making way for products, systems, and projects that the community can enjoy and benefit from in the long term. These include Shib: The Metaverse, Shiba Eternity, Shiboshis and SHEboshis, The Shib magazine, and The Shib Daily, just to name a few. There are numerous projects, NFTs or otherwise, now building on Shibarium—a true testament to what Ryoshi said: “If you wish to help the project you certainly can and work with us to find a way to make your efforts the most valuable.”
“The Shiba ecosystem shall flourish a thousand blossoms — creating global means of finance, community and abundance for all.” – Ryoshi, 2021
Shib Army: The Epitome of an Autonomous, Decentralized Community
Just recently—before, during, and after the Bitcoin halving event—the Shib Army came together in unwavering solidarity by sharing and recalling to memory a very important message Ryoshi left behind. It is a reminder of the purpose of every single Ryoshi in the world (we all are Ryoshi, remember?).
The Shib Army’s dedication to pioneering the development of effective processes and systems is setting the stage for the culmination of the Shib Network State. As a strong, powerful community carrying a brand that transcends crypto and blockchain, the Shib Army can collectively build the decentralized future that Ryoshi envisioned—one for which we are all responsible.
“The end result of this is that you are responsible… I give you this end vision. now build towards it.” – Ryoshi, 2021
