Shib Token

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Questions about Shiba Inu Token (SHIB)

Shiba Crypto Project’s Shiba Coin and ShibaSwap | GeminiGemini

Article about Shiba Inu on Cryptopedia® by Gemini.com

Sourced from Gemini.com

What is SHIB’s utility?

Shiba Inu Token or SHIB is primarily a digital asset/token 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 Shytoshi, one of the lead developers.

Submitted by u/Gold_Diamonds

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.com	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
Voyager	Offers a staking program and users must maintain a minimum monthly average balance of each coin 2% APR Minimum deposit 15,000,000 SHIB
Binance	Offers a locked staking program in the following tiers Digital Assets Duration Max. Locked Staking Limit Per User Standard Annualized Interest Rate Min. Locked Staking Limit SHIB 15 days 30M SHIB 33.12% 1M SHIB SHIB 30 days 5,000M SHIB 3.67% 1M SHIB SHIB 60 days 1,000M SHIB 4.12% 1M SHIB SHIB 90 days 500M SHIB 5.25% 1M SHIB
ShibaSwap	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

ShibaSwap Staking a.k.a BURY Rewards

Digital Assset	Rewards
SHIB	Digital Assets Returned as Reward Staking Rewards Immediately Available Staking Rewards Locked Per User Standard Annual Percentage Yield Rate (24hrs) SHIB 33% 67% for 6 months 1.36% BONE 33% 67% for 6 months 120.02% ETH 33% 67% for 6 months 404.75%
LEASH	Digital Assets Returned as Rewards Staking Rewards Immediately Available Staking Rewards Locked Per User Standard Annual Percentage Yield Rate (24hrs) LEASH 33% 67% for 6 months 16.53% BONE 33% 67% for 6 months 172.67%
BONE	Digital Assets Returned as Rewards Staking Rewards Immediately Available Staking Rewards Locked Per User Standard Annual Percentage Yield Rate (24hrs) BONE 33% 67% for 6 months 40.46% BONE (extra reward) 33% 67% for 6 months 453.30%

Submitted by u/Gold_Diamonds

SHIB Token Burn

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