What is Shiba Inu (SHIB)?

$SHIB is an ERC-20 token built on Ethereum. The Shiba Inu ecosystem supports Shibaswap, a decentralized exchange.

TL;DR

  • Shiba Inu Coin (SHIB) is an ERC-20 token based on the Ethereum blockchain, allowing certain functionalities, like swapping tokens, staking, and gaining yields.
  • ShibaSwap is Shiba Inu's very own decentralized exchange, creating an ecosystem that provides three types of tokens: SHIB, LEASH, and BONE.
  • SHIB is now listed on Coins.ph, one of the first licensed and regulated cryptocurrency exchanges in the Philippines, where Filipinos can easily convert PHP to buy and use $SHIB.

What is Shiba Inu (SHIB)?

Shiba Inu Coin (SHIB) is an ERC-20 token built on Ethereum. SHIB can use smart contracts to create products or services for decentralized finance and other decentralized applications. Dubbed as the “Dogecoin Killer," the Shiba Inu ecosystem supports NFT art incubators and a decentralized exchange called Shibaswap. Similar to Dogecoin, there are plenty of SHIB in circulation — with an initial supply of one quadrillion coins.

How Does Shiba Inu Work?

Since Shiba Inu is built on the Ethereum blockchain, it offers trading between ERC-20 tokens. Shiba Inu has its own decentralized exchange called ShibaSwap. This makes Shiba part of the decentralized financial ecosystem on Ethereum, allowing its users to get certain functionalities, like swapping tokens, staking, and gaining yields.

What is SHIB, LEASH, and BONE?

ShibaSwap is Shiba Inu's own decentralized exchange where users can "dig" (provide liquidity), "bury" (stake coins), "fetch" (get tokens from Uniswap or SushiSwap), and "swap" tokens. Using this platform, investors have a number of ways to improve their return on investment. The ecosystem includes SHIB, LEASH, and BONE tokens.

  • SHIB is the main token of the ecosystem. The SHIB token is a cryptocurrency that allows users to hold trillions of tokens. Shiba Inu can be used for peer-to-peer digital payments or as a payment method at businesses that accept it. At the start of 2022, more than 600 businesses accepted Shiba Inu.
  • LEASH incentivizes holders for liquidity. With a total supply of only 107,646 tokens, LEASH has a distinct appeal due to its scarcity. LEASH is ShibaSwap's second incentive token, offering a variety of benefits in exchange for liquidity.
  • BONE acts as a governance token. BONE has a total of 250,000,000 tokens and is a governance token that allows the #ShibArmy to vote on future ideas and initiatives.

What Are the Use-Cases of Shiba Inu?

Digital Currency

ShibaSwap is an Ethereum-based platform that allows users to trade ERC-20 tokens.  Users can also stake their cryptocurrency in the exchange's liquidity pools, allowing it to be used by the exchange. Users receive crypto rewards on their staked tokens in exchange for their participation.

NFT

The Artist Incubator is a unique feature of the Shiba Inu project.  The network encourages users to create their own NFTs in order to increase the project's meme atmosphere and buzz. Artists from all over the world are encouraged to submit their work to the NFT market.

ShibaSwap has a market for non-fungible tokens (NFTs) called Shiboshis, which are pixelated cartoons of Shiba Inu dogs with their own unique traits. In addition, the Shiba Inu team is developing a Shiboshi game that will use these characters.

Governance

ShibaSwap's governance token is BONE. Holders can propose and vote on changes to ShibaSwap. BONE is also used for crypto staking since holders can stake it to earn more.

How to Buy Shiba Token (SHIB)?

$SHIB is now on Coins.ph! Learn how to buy SHIB in 2 steps on our exchange.

Step 1: Log in to your Coins account then make a  cash in. You can use bank transfer and e-wallet options to top up your PHP wallet. Read this tutorial on “How to Cash In Online to your Coins.ph Wallet”

Step 2: Tap Crypto and select “SHIB” from the drop-down menu to convert your PHP.

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.

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