SHIB Coin

The SHIB Coin is the coin used on the Shiba Inu platform and has a total supply of 1 quadrillion tokens that were minted during its official launch in 2020.

A quadrillion is a number followed by 15 zeroes. About 50% of the supply was locked in an Uniswap SHIB/ETH liquidity pool where the users deposit pairs of assets into liquidity pools that other investors are able to trade against which is known as an automated market maker.

The other 50% of the SHIB coin supply was donated to Etheruem’s founder Vitalik Buterin who burned the majority of them and sent them to a dead wallet. The remaining tokens were donated to an Indian COVID-19 relief cause and other charities. The coin universe also consists of a decentralized exchange called ShibaSwap and two tokens as mentioned in our previous lessons BONE and LEASH.

The community also launched a rescue campaign for SHIBA INU dogs. All you have to do is purchase on Amazon through smile.amazon.com and select a Shiba Inu rescue association of your preferred NGO. This will allow a percentage of your purchase to be donated to a cause that can help these dogs in need. In addition to its decentralized nature, the coin presents a few factors that add to its value. In a bid to see if it has true value and support behind it, Ryoshi locked 50% of the coin’s supply into Unswap and the remaining were given to Buterin. In the coin’s Woofpaper Ryoshi wrote that there’s no greatness without a vulnerable point as long as VB doesn’t rug us then Shiba will thrive.”

Using Ether as the native asset for Ethereum, Shiba Inu can establish the right foundation for ShibaSwap where the users can buy, hold, sell and trade to gain more rewards, and outperform the value of other staking platforms. Also, ETH 2.0 gets ready to move the blockchain from a proof of work consensus mechanism to a proof of stake that will make it cheaper and faster. As a result, ShibaSwap could become one of the most popular and highest volume decentralized exchanges as it focuses on ERC-20 tokens.

SHIB has a total supply of 1quadrlillion and the data suggests that the circulating supply now after dividing some to Uniswap and some to Buterin, there’s 549,153,003,135,127 coins with a market cap of 33,800,410,315 EUR. SHIB has three flagship coins to the name with both LEASH and SHIB being available easily. The users will use SHIB to dig or bury their bones and the best traders will swap one coin for another. By digging and burying SHIB, users will generate returns which are distributed to the Puppy Pools where the users can bury or dig their coins.