An In-Depth Look at the Shiba Inu Ecosystem

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Today’s crypto world resembles a constantly developing ocean of new tokens, coins, platforms, NFTs, and Metaverses. We’re happy to see the crypto adoption worldwide, though, in this whole new world, it might be hard sometimes to keep up with all the updates of your favorite crypto and remember the original purpose. In this article, we will take a more profound look at the Shiba Inu ecosystem and try to recall the most important milestones from today’s perspective. 

The Beloved Trinity

Let’s start by refreshing the information about the Shiba Inu family tokens and their key features. 

  1. SHIB token – Shiba Inu is an Ethereum-based altcoin (this is the definition for all the crypto coins other than Bitcoin) that was created in August 2020 by an anonymous individual or group called “Ryoshi ”. SHIB doesn’t have its own blockchain yet, but it’s still one of the most popular altcoins in the world right now with a huge and wonderful community called SHIBArmy. It’s a 100% community-driven coin which is even stated in the “Woof Paper” (the so-called “white paper” for other crypto coins). Shiba Inu token has gained tremendous popularity among crypto investors and this is just the beginning!
  1. LEASH – this token, unlike SHIB, has the upper limit and its maximum supply is 107 646 tokens. LEASH is said to offer lucrative rewards for the holders providing its liquidity. It was originally envisioned to be a rebase token tied to the price of DogeCoin. This year it was officially announced that the LEASH token will grant its holders the unique opportunity to access the lands in the Shiberse (the code name for the Shiba Inu Metaverse project), which is why its price went to the moon.
  2. BONE – this is the third token in the trinity with a maximum supply of 250 million tokens and its purpose is to allow SHIBArmy to vote on proposals on Doggy DAO (a project dedicated to deciding which new pairs will appear on ShibaSwap next). BONE holders have the opportunity to stake their tokens to earn some rewards! Besides, BONE is going to become the main token pair for the Shibarium (a second layer of the Ethereum blockchain that the core team is working on right now).

As you can see, none of these tokens were created without their own purpose and thus they all hold a special place in the SHIBArmy hearts. 

What’s new with Shiba Inu?

We’re pretty sure that almost everyone has already heard of Shiberse and the partnership with Welly’s. But what is the hottest news at the moment?

Just yesterday (Feb 28, 2022) it was announced in the official Shiba Inu Twitter account that SHIB is to partner with John Richmond in terms of creating special 10 000 NFTs (Shiboshis)!

shiba inu shib cryptocurrency token shiba inu coin

SHIB and John Richmond (an English fashion designer based in Italy) could possibly also conduct fashion shows in Milan, Italy, and the clothing collection could also be available in boutiques worldwide. 

WOOF! Such big and great news – that’s what we needed at the beginning of a new week. All SHIBArmy is very excited to see this partnership in real life ASAP!

Twitter Milkshake @shibainuart

SHIB – the first token in the ecosystem

Though all these big updates and collaborations have a great impact on the development of the whole Shiba Inu ecosystem and its tokens LEASH and BONE, let’s not forget that it was SHIB token that gave birth to all the fuss. Somehow people tend to underestimate the true power of the original token. Do not forget: SHIB itself is already a whole ecosystem with multiple of different use cases and features connected with it directly. Let’s dig into the main reasons why the Shiba Inu token will be here forever:

  • Unlike BONE and LEASH, SHIB is supported by almost all key crypto platforms and exchanges (hey Robinhood, let’s make it official already). Shiba Inu adoption can’t be stopped!
  • You can use SHIB as a legal payment option. 10+ companies have already seized the day to attract SHIBArmy and provide the unique use case for the token. Payments in BONE and LEASH are impossible in real life for the time being. We hope to see them fulfil the payment function in the near future, but for now SHIB is the only way to pay for things outside of the crypto world. Besides, due to SHIB joining Flexa’s payment network list of supported crypto, it can be used in no less than 40 000 stores across the US. So take your Shiba Inu and buy yourself some treats 😉
  • You can unveil even more opportunities with the help of Shiba Inu loans! By the way, CoinRabbit was the first platform to enable SHIB as a collateral option in the whole crypto world. Did you know that already? Do you also happen to know that SHIB loans are gaining momentum right now? If not, jump straight to the next point and learn the whole list of perks of Shiba Inu loans.

We enlisted 3 simple reasons why the Shiba Inu token should not be underestimated in and out of the community. There are many more, but we don’t want to bore you with a long list since the point is quite clear, so let’s take a more profound look at the main advantages of SHIB loans to help you reveal the strongest powers of the beloved crypto.

Perks of using SHIB as collateral on CoinRabbit

Just imagine: your Shiba Inu coins are safe from the price dump and you buy even more SHIB. The market finishes its correction and goes up and you make a lot more money than you could have, plus keeping your Shiba Inu coins in full. Sounds impossible? More like a dream come true here at CoinRabbit

Or we have another awesome use case for you: use SHIB as collateral and buy more LEASH or BONE depending on what you aim to achieve. Diversify your portfolio and become fully engaged in the Shiba Inu ecosystem, use all the perks that are available for the family token holders!

What’s more, don’t forget that you can always participate in SHIB burning with the help of our loans. Here’s a simple use case: collateralize your Shiba Inu, release additional funds, buy more SHIB and participate in burning. Help your favorite crypto by using our Shiba Inu loans option and watch it grow!

Shiba Inu Burning Mechanism to Earn

Not tired of use cases yet? There is at least one more: if you are holding on to dear life your Shiba Inu, but still want to use SHIB to pay in one of the supported merchants, you have a great opportunity to do so while still keeping your funds safe with us. Just take out a Shiba Inu loan and buy more SHIB to pay for whatever you wish!

Overall, taking crypto-backed loans at CoinRabbit has more different opportunities and provides wider adoption of the Shiba Inu coin. Here are some major capabilities:

  • Unlock the value of your holdings without selling or switching to other currencies
  • Get more SHIB by collateralizing your current holdings
  • Spend received loans whatever you want. Let it be daily purchases or reinvestments
  • No time frames. Repay the loan whenever you want, let it be in 1 year or in 1 month
  • The APR is 14%
  • No KYC required
  • You only need your phone number or email to get the funds 
  • 24/7 customer support is always at your back

Besides, CoinRabbit is happy to support Shiba Inu family tokens adoption. This is why we are planning to fully support LEASH as our collateral option anytime soon! Stay tuned for the updates on our Twitter

Borrow Against Shiba Inu on CoinRabbit

Bottom Line

Despite the growing role of the Shiba Inu family tokens, we think it’s important not to exclude the SHIB token from the whole exciting movement. Shiba Inu has yet a lot to show to its believers, so don’t give up on it in favor of other tokens. From our side, we will make everything possible to keep the Shiba Inu coin on top as well as to support its family of tokens at the beginning of its worldwide adoption journey! 

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