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How does Shiba Inu Crypto and the token attached to it work in detail?

In this article we introduce you to Shiba Inu Crypto, a cryptocurrency with a somewhat strange history, but which is growing rapidly

In general, but especially in crypto, it is always ideal to know how a certain form of investment works in detail, before going to invest in it. This is especially true when at the center of attention there are cryptocurrencies born in a light, almost joking version, to then turn into solid projects with a possible great future ahead. Let’s talk about, for example Shiba Inu Cryptomeme token born almost as a joke in the wake of Dogecoin and quickly grown to interesting and very profitable levels.

How does Shiba Inu Crypto and the token attached to it work in detail?

How does Shiba Inu Crypto work in detail?

To get to know a coin we have to start for a moment from the basics of its project. Shiba Inu Token is an ERC 20 token (based on the structure of Ethereum) pre-mined, half of which was sent before the coin toss to Vitalik Buterin, creator and leader of Ethereum. Shiba Inu Crypto was born immediately as a meme token, with an almost playful intent, certainly joking and no unrealistic intention to change the world.

L’ecosistema Shiba Token

Shiba Inu is not just a meme token, but one a project that has achieved rapid evolution, thanks to a really well thought out growth and expansion plan. They are part of the same ShibaSwap, the Exchange system or automatic crypto Exchange that works without requiring permission or authorization. Everything works by resorting to liquidity pools made available by users, who are remunerated for this availability with interesting rewards.

Unlike the token creation act, this new function does not present anything revolutionary, since it is based on what has already been seen for other systems (it is in fact inspired by Uniswap), in an optimized version. The rewards system has in fact two characteristics once again evolved and interesting. On the one hand we find the 6-month lock of a part of the tokens provided in liquidity, an excellent solution to help maintain the stability of the platform. On the other hand, we find the “real-time” rewards system which rewards users by also triggering the virtuous process of compound interest.

How does Shiba Inu Crypto and the token attached to it work in detail?

The staking system

Innovative, but also very linear the Staking system inside the Shiba Inu Crypto token. In fact, there are three cryptocurrencies that we can put in Staking, when this happens, the system identifies our investment through placeholders that will be returned at the end of the Staking operation.

During this Staking activity you receive 3% of the BONE (one of the three supported tokens, also with a “canine” theme) mined during the period, along with one 0.1% in Ethereum currency which is generated by the swap functionality. The amount generated can be converted and collected on a weekly basis for one third of the currency, while the other two thirds must remain in “lock” for at least six months, thus guaranteeing stability to the entire system. In addition to the BONE token, there are also two further tokens in the Staking system.

Il token SHIB

It is the symbolic token of the entire Shiba Inu Crypto system. Generated in very high volumes before the presentation of the coin it is used only in the exchange phase. This token is the basis of the project, from which BONE and a third additional token, LEASH, unravel.

Il token LEASH

It is a token whose function, according to the creators of the project was that of rebate, that is a flexible value token representing changes in the SHIB core token. To date this project has been revised and today LEASH is a token limited to 107647 pieces and which is mainly used as a reward for those who Staking through SHIB.

The BONE token

Already anticipated before, this token is the backbone of the ShibaSwap system. It is about a governance token which gives the right to vote on the next actions and decisions of the crypto Shiba Inu. Available in a maximum number of 250 million units, as for the other tokens, also for this reason a part of it must be kept for at least 6 months to give stability to the entire ecosystem.

How does Shiba Inu Crypto and the token attached to it work in detail?

Shiba Inu crypto is a project that started almost for fun from a token meme inspired by another crypto e has quickly become one of the best options for those who want to invest in cryptocurrencies. Behind it, however, there is clarity of purpose and a good vision of the future, as demonstrated by the steps and actions already implemented by this crypto.