SHIB, LEASH, BONE: Understanding The Tokens In The Shiba Inu Ecosystem

KEY POINTS

SHIB is the main token of the ecosystem
BONE acts as a governance token
LEASH incentivizes holders for liquidity

By this time almost every crypto investor has heard of the Shiba Inu cryptocurrency. Dubbed as a "Dogecoin killer," Shiba Inu is affordable and has a loyal following of investors.

Also, thanks to the thriving Shiba Inu ecosystem, there are various options available to increase the investor's return on investment. The ecosystem includes SHIB, LEASH and BONE tokens and ShibaSwap, a decentralized exchange.

ShibaSwap is Shiba Inu's very own decentralized exchange that enables users to "dig," "bury," "fetch" and "swap" tokens. It works seamlessly across Ethereum. Caution: An analysis of ShibaSwap's centralization risks has revealed that developers could withdraw all of their ERC-20 tokens to any arbitrary address.

SHIB is the principal currency of ShibaSwap and it enjoys a capped supply of one quadrillion. Launched in August 2020, SHIB is a rival to the popular Dogecoin. The mascot of the platform is a Shiba Inu, a Japanese dog breed.

The SHIB token is the first cryptocurrency that allows users to hold trillions of tokens. The coin's creators are planning to launch more tokens in the future. Though it attracts all the attention, SHIB is only one of the three tokens in the Shiba Inu ecosystem.

LEASH, on the other hand, was initially intended to be a rebase token, but the team eliminated the rebase and allowed the token to reach its full potential. It represents the opposite extreme of the spectrum, with a total quantity of only 107,646 tokens.

LEASH enjoys a unique appeal as it has only a limited supply. LEASH is the second token incentivized on ShibaSwap and it provides numerous benefits to holders in exchange for liquidity.

As promised, we are so excited to announce our first special surprise for the year #ShibArmy!

In 2022, we are reaching new heights and welcoming the #Shiberse 🌎. An immersive experience for our ecosystem and the Metaverse space!

We can't wait to show you more. Woof! 🐶 pic.twitter.com/tCRQ1m1RiT
— Shib (@Shibtoken) January 24, 2022

The BONE token falls in between LEASH and SHIB. BONE has a total of 250,000,000 tokens and is a governance token, which allows the #ShibArmy to vote on future ideas and initiatives.

The Shiba Inu development team earlier last year announced the launch of their own blockchain, the Shibarium. Shibarium is a layer 2 blockchain that will reduce gas fees on the blockchain.

It is advisable to have a clear understanding of the risks and rewards involved before moving forward with making investments in any crypto ecosystem.