What  Is Shibaswap?

ShibaSwap is a decentralized exchange (DEX) and yield farming platform built on the Ethereum blockchain. It emerged from the Shiba Inu (SHIB) community, which gained popularity as a meme token inspired by Dogecoin. ShibaSwap aims to provide users with a decentralized and community-driven platform for trading and earning rewards.

Key Features of ShibaSwap:

Decentralized Exchange (DEX):

ShibaSwap allows users to trade supported ERC-20 tokens directly with one another.
The DEX's most liquid tokens are Shiba Inu ecosystem coins, with BONE and LEASH having the highest trading volumes and order book depths.

Native Tokens:

ShibaSwap uses three primary tokens: SHIB, Doge Killer (LEASH), and Bone (BONE).
SHIB is the native token of ShibaSwap and was created in 2020 by the pseudonymous "Ryoshi".
LEASH is designed as an elastic token and was initially pegged to Dogecoin.
BONE serves as a governance token within the ShibaSwap ecosystem, allowing users to propose and vote on changes to the protocol.

Staking (BURY):

Owners of SHIB, LEASH, and BONE can stake or "BURY" their coins into ShibaSwap pools for a specific timeframe to earn pre-determined annual percentage yields (APY).
The yields are paid in the wrapped version of the staked tokens, and a portion of the rewards can be claimed weekly, while the rest is vested for six months.

Liquidity Pools (DIG):

ShibaSwap offers liquidity pools where users can provide liquidity to its coin pairs and earn trading fee rewards.
The rewards are distributed as Shiba Swap Liquidity Provider (SSLP) tokens, which can be redeemed for BONE tokens.

Yield Farms (WOOF):

SSLP holders can deposit their tokens into ShibaSwap's yield farm pools to earn BONE rewards.
Similar to staking, users can instantly redeem one-third of the rewards, while the remaining portion is locked for six months.

Burn Portal:

ShibaSwap allows users to voluntarily burn their SHIB holdings by sending them to a dead address.
In return, users are rewarded with Ryoshi Token (RYOSHI), an ERC-20 token specifically created as a burn reward.

Non-Fungible Tokens (NFTs):

ShibaSwap enables the minting, customization, and trading of native non-fungible tokens (NFTs) called "Shiboshis".

These NFTs, featuring the Shiba Inu mascot cartoons, are expected to be part of a gaming project called the Shiboshi Game.