Shibaswap | Shiba Inu Ecosystem
Shibaswap SHIB, LEASH, and BONE, come together to create ShibaSwap, the next evolution in DeFi platforms. ShibaSwap gives users the ability to DIG (provide liquidity), BURY (stake), and SWAP tokens to gain WOOF Returns through our sophisticated and innovative passive income reward system.
Our platform also allows the ShibArmy to access upcoming NFTs and additional tools, such as portfolio trackers, to make navigating the crypto world simple and intuitive.
Vision
We are dedicated to building the best Decentralized Ecosystem (DECO) on the planet. Our three tokens were the seeds from which the Shiba Inu Ecosystem sprouted, and ShibaSwap is how they've dug in their roots.
The goal of ShibaSwap is to provide a safe place to trade your valuable crypto while remaining decentralized. We are loyal to our holders, and that gives us the means to grow exponentially. We will constantly scale this Ecosystem so it may bring ever- increasing interested parties to the ShibaSwap platform.
Our unique tokenomics, solid design, technical implementation, and the viral growth from our good 'ole fashion memes, will reinforce the platform's strength and ultimately provide residual benefits to the Ecosystem.
Making a swap without a budget is a unique challenge, but by tackling various genres and product lines we will build a focused development team from the community.
We know that with our unified force, and the power of Shiba, we will be successful in advancing the Swap and Ecosystem as a whole, so that we reach new and spectacular heights together.
Features
DIG (LP): Provide liquidity as SSLP to earn $BONE and other rewards
FETCH: Migrate liquidity to ear $BONE
BURY (Stake): Stake $SHIB, $LEASH, $BONE to gain returns
SWAP: Swap your ERC-20 tokens for other tokens
BONEFOLIO: Analytics for ShibaSwap
WOOF: Woof your returns, deposit/withdraw LP on pools
Innovation
ShibaSwap gives users the ability to 'DIG' (provide liquidity and earn yield), 'BURY' (stake), and 'SWAP' tokens to gain 'WOOF(reward) Returns' through our sophisticated and innovative passive income reward system.
Our platform also allows the ShibArmy to access upcoming NFTs and additional tools such as portfolio trackers, to make navigating the crypto world simple and intuitive.
Who Founded ShibaSwap?
After burning half of its supply to Vitalik Buterin, who proceeded to donate his tokens to charity, the Shiba Inu community decided that SHIB would need to set itself apart from other meme coins and started working on ShibaSwap.
Since the founder of Shiba Inu is unknown, the same is true for ShibaSwap. The Shiba Inu community developed the exchange in order to increase the utility of the SHIB token. Shiba Inu was created in August 2020 by “Ryoshi,” a pseudonymous developer. Shiba Inu’s “Woofpaper” explains three reasons for the creation of Shiba Inu:
“We started from zero, with zero.”
“The brilliant minds behind Shib had never collaborated before.”
“We love Shiba Inu Dogs.”
What Makes ShibaSwap Unique?
ShibaSwap is a fully functional decentralized exchange with all the functionality of other decentralized exchanges like UniSwap and PancakeSwap. The biggest difference is that all DeFi functions on ShibaSwap are dog-themed and named differently than they would be on a regular exchange.
For instance, providing liquidity is called “digging” and as a reward, liquidity providers receive ShibaSwap liquidity pool tokens (SSLP). Staking is titled “Bury,” and users can stake all three tokens SHIB, BONE, and LEASH for attractive yield. 33% of bone rewards from staking are available immediately, while the remaining 66% are locked up for six months. Users can also check their “Bonefolio” performance in the “Dogalytics.” “Woofing” returns is to swap SSLP tokens for BONE, the protocol’s governance token.
As of Oct. 30, 2021, ShibaSwap has an impressive TVL of $452 million. It also offers two additional tokens to its SHIB coin. BONE is the exchange’s governance token with a total supply of 250 million tokens. BONE holders can propose and vote on changes to the Shiba protocol via its Doggy DAO. LEASH was originally launched as a rebase token, similar to an algorithmic stablecoin. It automatically increased and decreased in supply, while keeping its price pegged to another asset. In the case of LEASH, the price was supposed to track the price of Dogecoin at a rate of 1:1000. The protocol changed this and the price of LEASH is now allowed to float freely. Since there are only 107,647 LEASH, the token acts as a sort of store of value for the Shiba Inu ecosystem.