Shiba For Beginners 7
Shiba Inu For Advanced 7
Shiba Inu Quiz 1
The Shiba Iny Ecosystem consists of three tokens as we shortly discussed in the previous lesson.
SHIB is the project’s foundational currency and started with a supply of 1 quadrillion with Ryoshi locking 50% in Uniswap and giving 50% to Ethereum’s co-founder Vitalik Buterin for safekeeping. Buterin later donated more than 50 trillion coins worth over $1 billion to a COVID-19 relief fund in India as the nation was struggling with the delta variant of the virus. Buterin also burned 40% of the Shiba Inu total supply to a so-called dead wallet.
LEASH is the second token in the ecosystem which represents the other end of the spectrum with a total supply of 107,646 tokens compared to the trillions of SHIB.
BONE is somewhere in between these two tokens in terms of circulation supply with a total supply of 250,000,000 tokens and it is designed as a governance token that allows the community to vote on upcoming proposals.
ShibaSwap is a decentralized finance platform that aims to provide a safe place to trade cryptos while remaining decentralized. SHIB and LEASH are best purchased and sold via ShibaSwap.
Incubator: This feature aims to shift the focus beyond popular art forms like painting, digital rendering, and photography to discover ways to honor creativity and ingenuity.
SHIBOSHIS: these are 10,000 SHIB NFTs written on the Ethereum blockchain with different features that make each one unique and collectible.
In keeping up with the dog theme, the Woof PAper uses canine terms to describe how the returns can be generated from the tokens. These tokens can be used to “dig” or provide liquidity, “bury” or stake tokens” and even “fetch” exchange one token for another. These tokens used in the strategies generate “woof” returns in the form of bone tokens that can be distributed to token pools like Puppy Pools. For the crypto supporters, part of the allure of the meme coins is that they reject conventional protocols and this approach could extend the use of canine terms to describe other return strategies. However, it is still a world away from the regular investment terms.