Shiba Inu (SHIB) was developed to answer a simple question: What would happen if a cryptocurrency project was 100 percent run by its community?
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.
An anonymous developer named Ryoshi launched SHIB in August 2020. The project began with a total supply of one quadrillion tokens — a truly vast number.
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.
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”).
Released: August 2020
