Check out our article to read our comments and thoughts on the success of SHIB, which has been on everyone's agenda for a long time.
The Success of SHIB
Today we will talk about the most popular topic of recent times. Shib smashed nearly every analyst's forecast with a million percent increase this year alone. But we're just starting to talk about it. We have a long road of success paved by the power of ShibArmy.
Now, as we go beyond the public's expectations, we continue to look for ways to optimize our Trifecta tokens $SHIB, $LEASH, and $BONE as well as our #ShibaSwap and #Shiboshis products. All we hear is the problem of woofing prizes being too expensive. We took this into account and decided to replace the ShibaSwap woofing system to help. Now let's get down to the details. Biweekly, transaction fees for each transaction on ShibaSwap for Woofable pairs are combined and distributed to those who stake (embed) or provide liquidity (mined) on ShibaSwap. These are issued in various tokens including WBTC, ETH, and others, causing Shibian to spend ETH on gas to reap their rewards.
We decided to combine all stablecoin rewards (WBTC, USDT, USDC, DAI, and ETH) into BONE for distribution to nullify this issue. The return process will be the same and the contracts will not change, but we will convert the returns into BONE internally and distribute them as normal. At this point, we plan to solve two problems.
- Shibian probably won't need to request 2–3–4 bounty buttons at amounts too low to be worth the throttle. It will be centralized in a single claim button.
- We will convert all Stablecoin returns into BONE, which will help the token grow and its value works over time. This is because we will be purchasing it in large quantities internally in the swap. It may also help it grow over time as we continue to lock some of the rewards.
We thought this was a good move to balance the gas situation and try to empathize with the community and their claims about rewards. This is endorsed by all multi-signature signers. Therefore, it will take effect in our next refund period this weekend.
Woofable Tokens
One goal I had for ShibaSwap was to list 1,000 Woofable tokens by the end of the year. The unexpected here is that many of the tokens approaching us have the potential to attract lots of red flags and in some cases the carpet. The crypto world is full of scammers and our Defensive Type and Currency Type are hard to be 100% ANY coin is perfect. This creates an enigma. We also found that this method of writing is ineffective as it slows down the number of lists we receive and we need as many lists as possible to make ShibaSwap successful. We've implemented other burns as well (more on the way), so we've decided to make the $25,000 Shib burn and $25,000 Leash burn OPTIONAL, but still highly recommended.
We will also continue to do a SNIFF CHECK on all tokens that go into our Woofable request, but we will no longer reject any applications. Instead, our findings will be presented so you can DYOR, make informed decisions and also learn about the tokens that are part of the ShibaSwap Woofable pairs. Ultimately, each coin will be awarded a ShibaSniff Score between 0 and 100, with 0 bulletproof coins. (0 = Smells good. 100= Smells Questionable!) Few tokens will receive a 0 ShibaSniff Score unless offered by a large company similar to our current Woofable token VXV and their company VectorSpace AI. Remember though, a perfect 0 ShibaSniff Score (or any score for that matter) is NOT Financial Advice, and instead just another tool to help you make smart decisions. In this way, ShibaSwap is not only a secure trading Defi location but also a source of information and a gateway to further research on the tokens available on our platform. In short, a win-win for everyone.
We hope that this blog post will be beneficial for you. We will continue to create useful works to get inspired by everyone. We are sure that we will achieve splendid things altogether. Keep on following Finage for the best and more.
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