What Is ShibaCash (SHIBACASH)?
ShibaCash (SHIBACASH) is a community-based Defi (Decentralized Finance) project operating on the Binance Smart Chain (BSC). According to its whitepaper, the ShibaCash network intends to reward holders with a deflationary token. Deflationary tokens are tokens that are designed to decrease in quantity over time. This is done to keep the market from being overloaded with the token while increasing its value. This community-based network encourages the holder's contribution towards community engagement, marketing, and development. ShibaCash also seeks to maintain transparent and open communication with its holders to keep them informed about their growth's current and future direction.
SHIBACASH is the governance token of the ShibaCash network. The total supply of the SHIBACASH token is five Trillion SHIBACASH. Out of the total supply, 65 percent of tokens were burned initially, and the remaining 35 percent were in circulating supply. Token burning refers to the act of removing a specific quantity of tokens from circulation permanently. Further, ShibaCash has an autostaking mechanism that offers holders instant rewards. The platform charges a 10 percent transaction fee which is redistributed among all the holders proportionally. This transaction fee is distributed as 5 percent redistribution to holders and 5 percent automatically added to the liquidity pool.
As the community runs the ShibaCash project, there are no tokens reserved for the team. Therefore, the project runs primarily on donations and volunteers from the community. The raised fund is used for the following purposes:
Marketing - hiring social media influencers, real-world promotions, digital advertising
Product Development - executing the roadmap and expanding the ShibaCash ecosystem
Exchange Listings – Increasing the project's reach by listing on new exchanges to reach new audiences.
