How does Shiba Inu work?
Shiba Inu (SHIB) is a decentralized cryptocurrency project built on the Ethereum blockchain.
It is an ERC-20 token, meaning it is built on the Ethereum network and follows the same rules as other ERC-20 tokens. The Shiba Inu project was created to provide a decentralized platform for users to store, trade, and manage their digital assets. The project also aims to create a global community of users who can interact with each other and share their experiences with the Shiba Inu ecosystem.
The Shiba Inu network is powered by its native token, SHIB. This token is used to pay for transactions on the network and can be used to purchase goods and services from merchants that accept SHIB as payment. SHIB tokens are also used to reward users for participating in activities such as staking or providing liquidity on decentralized exchanges.
The Shiba Inu project also has its own decentralized exchange (DEX), called ShibaSwap, which allows users to trade SHIB tokens against other cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH). The DEX also provides liquidity pools where users can provide liquidity in exchange for rewards in SHIB tokens. In addition, the Shiba Inu project has launched its own non-fungible token (NFT) marketplace called Shibacoin Marketplace where users can buy, sell, and trade NFTs using SHIB tokens.
Overall, the Shiba Inu project provides a platform for users to store, trade, and manage their digital assets while earning rewards in SHIB tokens for participating in activities such as staking or providing liquidity on decentralized exchanges.
