How Much Do You Know About the Shiba Inu Eco_?
2022-03-28 09:58:03
What Is Shiba Inu Coin And The Whole Project
Have you ever considered this question: "What would happen if a cryptocurrency project was 100% run by its community?", and do you find a solution? Such a question is also the starting point of Shiba Inu coin according to its "woof paper" (presumably a play on white paper).
While most of the SHIB Army members are hoping this coin will be the next Dogecoin and staring at its price every day to calculate the best time to buy Shiba Inu coin, Ryoshi, the developer behind this meme coin, is building the Shiba Inu ecosystem with the belief that the power of collective decentralization can build something stronger than a centralized team could ever create.
Introducing the Shiba Inu Ecosystem
Apart from the most famous Shiba Inu coin, there are other two coins inside the project, one is Doge Killer (LEASH) and the other is Bone ShibaSwap (BONE).
As its name suggests, LEASH originally leveraged the price of Dogecoin as a way of accruing value. Essentially, the LEASH price is controlled by an algorithm which constantly tweaks the supply of the LEASH token. This algorithm ensures that the LEASH price is always 1,000 times larger than DOGE’s.
At the time of writing, data from Gate.io shows that the price of LEASH is $1248 while Dogecoin is trading at $0.1361, the ratio is not 1/1000, why? LEASH no longer operates in this fashion. Rather, it’s now more of a store of value thanks to a very limited total supply of only 107,646 tokens.
BONE is the newest token of the Shiba Inu ecosystem, it is designed to function as the governance token, with a total supply of 250 million tokens. That means BONE holders are able to propose and vote on initiatives to the protocol via its “Doggy DAO” . It’s also minted and rewarded to users who provide liquidity on the platform.
The Shiba Inu ecosystem also includes ShibaSwap, Shiba Inu Incubator and Shiboshis. Launched in July 2021, ShibaSwap is the native decentralized exchange (DEX) of the Shiba Inu coin project which provides many of the same functions that would find on other DEXs such as token swapping and liquidity pools.
Previously known as the Artist Incubator, Shiba Inu Incubator is the proposed NFT project of the ecosystem. This is where the SHIB Army members can express their creativity and build their artworks which will later be displayed, sold, or auctioned through ShibaSwap.
Shiboshis are a collection of 10,000 exclusive Shiba Inu generated Non Fungible Tokens (NFTS) written on the Ethereum blockchain, with different traits that make each Shiboshi unique and collectible. They can be purchased and traded on OpenSea without fees, as well as ShibaSwap of course.
Have you ever considered this question: "What would happen if a cryptocurrency project was 100% run by its community?", and do you find a solution? Such a question is also the starting point of Shiba Inu coin according to its "woof paper" (presumably a play on white paper).
While most of the SHIB Army members are hoping this coin will be the next Dogecoin and staring at its price every day to calculate the best time to buy Shiba Inu coin, Ryoshi, the developer behind this meme coin, is building the Shiba Inu ecosystem with the belief that the power of collective decentralization can build something stronger than a centralized team could ever create.
Introducing the Shiba Inu Ecosystem
Apart from the most famous Shiba Inu coin, there are other two coins inside the project, one is Doge Killer (LEASH) and the other is Bone ShibaSwap (BONE).
As its name suggests, LEASH originally leveraged the price of Dogecoin as a way of accruing value. Essentially, the LEASH price is controlled by an algorithm which constantly tweaks the supply of the LEASH token. This algorithm ensures that the LEASH price is always 1,000 times larger than DOGE’s.
At the time of writing, data from Gate.io shows that the price of LEASH is $1248 while Dogecoin is trading at $0.1361, the ratio is not 1/1000, why? LEASH no longer operates in this fashion. Rather, it’s now more of a store of value thanks to a very limited total supply of only 107,646 tokens.
BONE is the newest token of the Shiba Inu ecosystem, it is designed to function as the governance token, with a total supply of 250 million tokens. That means BONE holders are able to propose and vote on initiatives to the protocol via its “Doggy DAO” . It’s also minted and rewarded to users who provide liquidity on the platform.
The Shiba Inu ecosystem also includes ShibaSwap, Shiba Inu Incubator and Shiboshis. Launched in July 2021, ShibaSwap is the native decentralized exchange (DEX) of the Shiba Inu coin project which provides many of the same functions that would find on other DEXs such as token swapping and liquidity pools.
Previously known as the Artist Incubator, Shiba Inu Incubator is the proposed NFT project of the ecosystem. This is where the SHIB Army members can express their creativity and build their artworks which will later be displayed, sold, or auctioned through ShibaSwap.
Shiboshis are a collection of 10,000 exclusive Shiba Inu generated Non Fungible Tokens (NFTS) written on the Ethereum blockchain, with different traits that make each Shiboshi unique and collectible. They can be purchased and traded on OpenSea without fees, as well as ShibaSwap of course.
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