Shiba Inu information

What is Shiba Inu?

Shiba Inu (SHIB) is a decentralized cryptocurrency created in August 2020 by an anonymous individual or group under the pseudonym "Ryoshi." Inspired by the Shiba Inu dog, which also symbolizes Dogecoin, SHIB positions itself as a "Dogecoin Killer" and is part of the growing list of memecoins. The project aims to build a vibrant community and create a fully decentralized ecosystem.

Whitepaper: Shiba Inu WoofPaper

How does Shiba Inu work?

Shiba Inu is an ERC-20 token that runs on the Ethereum blockchain. This means it benefits from Ethereum’s robust infrastructure and security. The project also has its own decentralized exchange called ShibaSwap, where users can trade SHIB and other tokens, stake their assets, and provide liquidity. ShibaSwap includes features like "Dig," "Fetch," and "Bury," which refer to liquidity provision, token swaps, and staking, respectively.

The token

Ticker: SHIB

Category: Memecoin

Blockchain: Ethereum

Protocol: ERC-20

Year of launch: 2020

The technology behind Shiba Inu

As an ERC-20 token, Shiba Inu uses the Ethereum blockchain, ensuring compatibility with most Ethereum-supported wallets and exchanges. The project also developed ShibaSwap, a decentralized exchange allowing users to trade and stake tokens within the Shiba Inu ecosystem. In addition to SHIB, there are two other tokens in the ecosystem: LEASH and BONE, each with its own unique functionality and tokenomics.

The Shiba Inu ecosystem

The Shiba Inu ecosystem consists of three main tokens:

• SHIB: The primary token and backbone of the ecosystem.
• LEASH: Initially intended as a rebase token, but later restructured into a limited-supply token, making it a rarer asset within the ecosystem.
• BONE: Serves as the governance token, enabling holders to vote on proposals within the Shiba Inu DAO.

In addition to these tokens, ShibaSwap offers features like staking, liquidity provision, and yield farming, incentivizing users to actively participate in the network.

Who founded Shiba Inu?

Shiba Inu was created by an anonymous person or group using the pseudonym "Ryoshi." Ryoshi has shared little personal information and emphasizes that he plays no special role in the project, highlighting Shiba Inu’s decentralized and community-driven nature.

Impact on the environment

Click here to read more information about the impact of this coin on the environment.