Shibaswap - Decentralized Cryptocurrency Exchange

ShibaSwap uses three primary tokens: SHIB, Doge Killer (LEASH) and Bone (BONE).

Shiba Inu (SHIB)

SHIB is a Dogecoin-inspired memecoin created in August 2020 by the pseudonymous “Ryoshi."

During its initial coin offering, the founder(s) distributed one quadrillion SHIB, with half allocated to Ethereum co-founder Vitalik Buterin. Later, Buterin  to an Indian COVID-19 relief fund while sending the rest of the 450 trillion tokens to a dead wallet

Shiba Killer (LEASH)

As the name suggests, Doge Killer (LEASH) arrived as a part of SHIB’s effort to knock Dogecoin 

 off its pedestal as the top memecoin by market capitalization. In its earlier days, the token saw a failed 1:1000 peg to the price of DOGE.

Bone (BONE)

Bone (BONE) serves as a governance token within the ShibaSwap ecosystem. In other words, holding BONE enables users to propose and vote on changes to the ShibaSwap protocol through the Shiba Inu Doggy DAO.

How does ShibaSwap work?

ShibaSwap enables users to trade supported ERC-20 tokens directly with one another. The DEX’s most liquid tokens are Shiba Inu ecosystem coins, with data  that BONE and LEASH have the highest trading volumes and order book depths.

Staking (BURY)

Owners of SHIB, LEASH and BONE can stake or BURY their coins into ShibaSwap pools for a specific timeframe to earn pre-determined annual percentage yields (APY). These yields get of the staked tokens. For instance, staking 1 LEASH yields users 1 xLEASH.

Liquidity Pools (DIG)

ShibaSwap grants users trading fee rewards (0.3% per trade) proportional to the liquidity they provide to its coin pairs. The rewards are handed out as Shiba Swap Liquidity Provider (SSLP) tokens are redeemable for BONE tokens whenever the liquidity provider wants. 

Yield Farms (WOOF)

SSLP holders can deposit these tokens to ShibaSwap’s yield farm pools to earn BONE rewards. This reward mechanism is similar to BURY, where users redeem one-third of the rewards instantly but need to lock the rest for six months.

Liquidity Pools (DIG)