Why is SHIB so hot? - ELLIPAL

Why is SHIB so hot?

Official website: https://www.shibatoken.com/

SHIB is a meme token created to compete with DOGE coin. Based on the ETH blockchain as an ERC20, it has big ambitions and has already been listed on multiple large exchanges and a plan to create its own Defi exchange. The creators have now released 3 tokens in total: SHIB, LEASH, and BONE. SHIB and LEASH can be traded on UNISWAP. Half of the supply of SHIB is locked, the secret key for locking is destroyed and deposited in the VITALIK BUTERIN wallet.

Where can I buy SHIB?

You can buy SHIB on Defi-exchanges like UNISWAP and Sushiswap or centralized exchanges like Binance, MXC (Matcha), GETIO, OKEX, Huobi, etc. The transaction fee on the centralized platform is lower, and the transaction fee on UNISWAP will be higher.

Similar to other Defi-exchanges, SHIB exchange shares a similar function but it is named differently to meet the theme of Shiba Inu:

  1. DIG - Provide liquidity
  2. BURY - Stake
  3. FETCH - Exchange
  4. NFT


Nevertheless, none of the above trading functions have been launched yet. Previously, the team said that it would be launched at the end of April, but it has not yet been launched.

Brief introduction of the project:

Founder: RYOSHI, he wants to do a social experiment. The specific rules are as follows:

  1. He didn't spend any money on this project, everything started from zero.
  2. The SHIB tokens he holds are all purchased from the market, just like other buyers.
  3. No founding team/founder owns SHIB for free, only volunteers. Therefore, they cannot do airdrops, nor can they pay for influencers.

At present, 28 media and 9 trading companies have communicated with him about the listing fee. He responds that we are a decentralized community autonomous social experiment project, and we have not paid any media or exchanges to conduct it. If you also want to join us to make our project better, you can conduct free publicity and free listing.

He has a friend who created SHIB and put 10 ETH into the fund pool to provide liquidity. His friend is a successful businessman, and 10 Ethereum is nothing to his friend. They destroyed the 10 ETH secret keys, and 50% of the lock-up process performed by SHIB was locked into the VITALIK wallet. (You can check this transfer record on ETHERSCAN)

If you want to help SHIB, you can do the following:

  1. Promote SHIB on your platform
  2. If you are an exchange, you can list SHIB and invite them to do LISTING CONTEST
  3. If you are an experienced developer, you can contact them.
  4. If you have trust or transparency considerations, you can talk to them on Reddit.

Clarifications from SHIB token's creator:

  1. They do not accept investment.
  2. Founding team does not have tokens.
  3. Their volunteer team is very small, if there is any problem, they will try to solve the problem.
  4. Is this a fair challenge? They want to see if there is a 100% decentralized project without a leader’s community autonomy. The founder is not important. He may disappear one day and withdraw (in the absence of any In case of notification)

It can be found on ETHERSCAN, and the first batch of transactions will be made starting at 20:42:11 on July 31, 2020.

In the UNISWAP V3 version, how to provide liquidity through UNISWAP to earn commissions, such as the liquidity of SHIB/ETH 1% commission, you can set the minimum amount and maximum amount of SHIB/ETH. As long as there is a handling fee within this price range, you will earn UNCLAIMED FEES. In UNISWAP V3, there are 0.05% and 0.3% (SHIB) handling fees to provide liquidity. On May 8, 2020, 5,100 transactions were made at UNISWAP SHIB.

Painet has launched grid trading, which contains SHIB/USDT, which can earn income.

And other trading platforms also launched SHIB because of the current high popularity of this coin.

Retail investors: more short-term holdings to wait and see whether SHIB's SWAP will go online and future trends.

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1 commentaire

I know this is unrelated to the Shib post, but it would be great if you guys created an ELLIPAL with tap to pay capabilities, could be one way to provide more functionality in how we spend our cryptos the more they become accepted as payment. Love my Elli💙

Carl D. Robinzine Jr

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