Shiba Inu (SHIB) Explained: A Beginner’s Guide to the Meme Coin Ecosystem

TL;DR

• Shiba Inu Coin (SHIB) is an ERC-20 token based on Ethereum, known as the "Dogecoin Killer."
• The Shiba Inu ecosystem includes ShibaSwap, a decentralized exchange (DEX), and three tokens: SHIB, LEASH, and BONE.
• SHIB is now available on Coins.ph and Coins Pro, providing Filipinos an easy way to convert PHP to SHIB.

What is Shiba Inu (SHIB)?

Shiba Inu Coin (SHIB) is an ERC-20 token built on the Ethereum blockchain. It powers an ecosystem with features like decentralized finance (DeFi), non-fungible tokens (NFTs), and governance. As a community-driven project, Shiba Inu aims to provide utility while maintaining its meme origins.

Key features include:

• Decentralized Exchange (DEX): ShibaSwap facilitates token swaps, staking, and liquidity provision.
• NFT Art Incubator: Encourages artists to create and showcase their work.
• Massive Circulation: SHIB began with a supply of 1 quadrillion tokens.

How Does Shiba Inu Work?

Ethereum-Based Ecosystem

Shiba Inu leverages Ethereum’s blockchain to provide:

• Token Swapping: Trade SHIB with other ERC-20 tokens.
• Staking: Stake SHIB or other tokens for passive rewards.
• Liquidity Pools: Contribute to pools and earn incentives.

Decentralized Exchange: ShibaSwap

ShibaSwap offers users the ability to:

• "Dig": Provide liquidity.
• "Bury": Stake tokens.
• "Fetch": Retrieve tokens from external DEXs like Uniswap.
• "Swap": Exchange ERC-20 tokens seamlessly.

What Are SHIB, LEASH, and BONE?

The Shiba Inu ecosystem revolves around three tokens:

1. SHIB:
   • Main token for digital payments and peer-to-peer transactions.
   • Accepted by over 600 merchants worldwide.
2. LEASH:
   • A limited-supply token used for purchases and liquidity provisioning.
   • Offers a 0.5% reward of all $BONE per block added to the blockchain.
3. BONE:
   • Governance token enabling holders to propose and vote on ShibaSwap changes.
   • Integral to Shibarium, Shiba Inu’s Layer 2 blockchain solution.

What Are the Use Cases of Shiba Inu?

1. Digital Currency

Shiba Inu is widely used for peer-to-peer payments and online transactions. The ShibaSwap DEX enhances usability by enabling trading and staking of ERC-20 tokens.

2. NFT Marketplace

Shiba Inu supports an NFT initiative via The Artist Incubator and Shiboshis—a collection of unique Shiba Inu-inspired NFTs available on OpenSea.

3. Governance

With BONE, holders participate in ShibaSwap governance by voting on development proposals.

4. Shiberse and Metaverse Integration

The Shibarium Layer 2 solution enhances scalability and transaction speed, enabling new applications in:

• Gaming
• Web3 Innovation
• The Metaverse

How to Buy Shiba Inu (SHIB)

Via Coins Buy & Sell:

1. Log in or create a Coins.ph account.
2. Cash in PHP to your wallet.
3. Purchase SHIB through the app's crypto marketplace.

Via Coins Pro:

1. Log in to your Coins Pro account.
2. Deposit PHP to your wallet.
3. Trade SHIB via the SHIB/PHP pair.

Why Choose Coins.ph and Coins Pro?

• Regulated: Licensed by the Bangko Sentral ng Pilipinas (BSP) for secure transactions.
• User-Friendly: Intuitive platforms for both beginners and seasoned traders.
• Rewards: Earn ₱50 in BTC when you sign up and fund your wallet using the code: coinsacademy.

Get your crypto journey started with Coins.ph

Coins.ph is regulated by the Bangko Sentral ng Pilipinas (BSP) and is the first-ever blockchain-based company in Asia to hold both Virtual Currency and Electronic Money Issuer licenses from a central bank.

Sign up for a Coins.ph account now to start trading OR download the Coins.ph app. Once you have verified your account, you can convert PHP into the cryptocurrencies of your choice.

Get P50 in BTC when you sign up(with level 2 verification) and fund P200 into your coins wallets with promo code: coinsacademy

Start trading your favorite Crypto on Coins Pro with fees as low as 0.05%!

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