What is Shiba Inu

Shiba Inu (SHIB) is a meme token that began as a fun currency and has now transformed into a decentralized ecosystem.

How does SHIB work? 

SHIB is a token designed to be an Ethereum-compatible alternative to Dogecoin (DOGE). Like DOGE, SHIB is intentionally abundant with an initial circulating supply of one quadrillion coins. The Shiba Inu ecosystem also supports projects such as an NFT art incubator and a decentralized exchange called Shibaswap.

Who created SHIB?

An anonymous developer named Ryoshi launched SHIB in August 2020. The project began with a total supply of one quadrillion tokens.

How is SHIB different from DOGE?

SHIB, unlike DOGE, is compatible with the Ethereum ecosystem — which has allowed the community to create crypto apps like ShibaSwap, a DEX that allows users to trade and stake tokens without an intermediary. In the future, the Shiba community plans to release an NFT platform and DAO-based governance system for the Shiba ecosystem (called “DoggyDAO”).

Where can I buy or trade SHIB?

You can buy, send, and receive SHIB from a few different crypto exchanges. And because SHIB is issued as an Ethereum token, it’s compatible with the vast Ethereum ecosystem. 

Advantages include compatibility with Ethereum wallets like Coinbase Wallet, availability on decentralized exchanges (or DEXs) like UniSwap, the potential for SHIB to be incorporated into ETH-based DeFi applications like lending and savings products and NFT marketplaces.

Users can trade SHIB at klever.io using Klever Exchange and/or buy (using Fiat), send, receive, and store their $SHIB at Klever Wallet.

Rating: 3.33 Votes: 3

Your page rank:

Disclaimer: This article is for informational purposes only. The information does not constitute an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Klever.Finance does not provide financial, tax, legal, or accounting advice. There is no responsibility on the part of the company or the author for any loss or damage arising from or related to the use of or reliance on any content, goods or services mentioned in this article.

You might also like

klever news

Klever Weekly Newsletter – May 20

This was Travala’s special week where the Travala mini-app goes live in K5 and we hosted a Livestream with the Head of BD, Shane Sibley. Klever Exchange lists Decentraland (MANA) & The Sandbox (SAND).