User:Emmettaking/sandbox

Shibaswap is a decentralized exchange released by the creators of the SHIB token. Upon launch, the total volume surpassed 1.5 billion dollars in two days. The anticipated launch barely impacted the price. The rating company Certik rated the exchange an 89 out of 100 security score.

The launch was released with the third token of the Shiba Inu Coin ecosytem: Bone. Users can mint the new governance token by providing liquidity or staking their SHIB and Leash tokens. Originally, some functions of Shibaswap were rewarding users with percentage returns in the thousands but fell as more users joined the exchange. As described in the Woof Papers, users who are unbanked can build multiple streams of income by providing liquidity in trading pairs earning Bitcoin, USDC, and Bone. Then users can stake their earned Bone to earn more Bone. Soon, users will be able to vote on governance issues using their Bone tokens.

As the first addition of the Shiba Inu ecosystem, more is expected to come. Shibaswap launched its own NFT service in October, 2021 which was made available to Leash token holders first. The 10,000 set collection will feature randomly generated shiba inus. The NFT's are named Shiboshis. The NFT collection trades without fees on Shibaswap.

Another major project in the development is Shibarium. The new Shiba Inu Coin blockchain would make transactions faster and more efficient. There have been talks of incorporating the Shiboshi NFT's into Shibarium.

Emmettaking (talk) 01:06, 27 September 2021 (UTC)emmettaking