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Shib Token

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Questions about Shiba Inu Token (SHIB)

LogoShiba Crypto Project’s Shiba Coin and ShibaSwapwww.gemini.comchevron-right
Article about Shiba Inu on Cryptopedia® by Gemini.com

Sourced from Gemini.comarrow-up-right

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What is SHIB’s utility?

Shiba Inu Token or SHIB is primarily a digital asset/tokenarrow-up-right that can be traded on both Centralised Exchanges (CeX) and DeCentralised Exchanges (DeX).

Additionally, holders can stake/BURY SHIB token at ShibaSwap to earn a passive income.

Holders can also pair their SHIB with ETH or BONE token and supply liquidity (DIG) to ShibaSwap and earn more rewards.

Further utility, as payments for NFTs have been hinted by Shytoshiarrow-up-right, one of the lead developers.

Submitted by u/Gold_Diamondsarrow-up-right

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Should I keep my SHIB tokens on a regular exchange (CeX) or bring them over to ShibaSwap?

It depends on the amount of SHIB you hold.

If you hold less than 50,000,000, it may be more worth it to stake on the regular exchanges and just earn SHIB as a reward.

That being said, you earn more total rewards on ShibaSwap than you do on the regular exchanges when staking your SHIB.

Here’s a brief list of exchanges and their rewards

Exchange

Rewards

Crypto.comarrow-up-right

  • Offers a 2 tier system and the option to earn more rewards if you stake CRO tokens

    • Flexible

      • withdraw any time

      • rate is 0.50% P.A

    • Fixed Term

      • 1 month

        • locked for 1 month

        • Interest rate 1% P.A

      • 3 months

        • locked for 3 months

        • Interest rate is 3% P.A

  • Minimum deposit

    • 8,000,000 SHIB

Voyagerarrow-up-right

  • Offers a staking program and users must maintain a minimum monthly average balance of each coin

    • 2% APR

  • Minimum deposit

    • 15,000,000 SHIB

Binancearrow-up-right

  • Offers a locked staking program in the following tiers

ShibaSwaparrow-up-right

  • Offers staking (BURY) for SHIB,LEASH & BONE

  • BONE token is minted as reward.

  • Staking Rewards are distributed as a combination of multiple Tokens

  • Offers a no-lock staking program for

    • SHIB

      • Rewards paid out in

        • SHIB

        • BONE

          • 3% of Total BONE Minted Per Block

        • ETH

    • LEASH

      • Rewards paid out in

        • LEASH

        • BONE

          • 1% Total BONE Minted Per Block

    • BONE

      • Reward paid out in

        • BONE

      • Extra BONE reward

        • 1% Total BONE Minted Per Block

  • Rewards are scheduled to be paid out bi-weekly.

    • 33% are available at the time they’re distributed and the other 67% is locked away for 6 months.

  • Detailed breakup is available below

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ShibaSwap Staking a.k.a BURY Rewards

Digital Assset

Rewards

SHIB

LEASH

BONE

Submitted by u/Gold_Diamondsarrow-up-right

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SHIB Token Burn

As detailed in thisarrow-up-right post, 25k worth of SHIB & 25k worth of LEASH tokens will be burned PER listing on ShibaSwap's Woof pools (liquidity mining pools)

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