ShibaSwap: What Is It?

Woofing, digging, and burying The ShibaSwap platform offers a wide range of features, some of which include these.

The Shiba Inu Coin project's native decentralized exchange (DEX) is ShibaSwap; a meme coin that has gained popularity in the past 18 months and is a major rival to dogecoin. By allowing users to swap tokens without the need for an intermediary or counterparty, DEXs operate differently from centralized platforms like Binance and Kraken.
The ShibaSwap exchange, which went live in July 2021, adds additional features like staking, governance, and a marketplace for "Shiboshis" non-fungible tokens (NFTs) in addition to the token swapping and liquidity pools found on Uniswap and other decentralized exchanges.

The project's primary token, shiba inu coin (SHIB), as well as two additional tokens made with Ethereum's ERC-20 blueprint—bone ShibaSwap (BONE) and doge killer (LEASH)—fuel ShibaSwap.

What are doge killer (LEASH) and bone shibaSwap (BONE)?

Swap bone shiba (ticker: BONE): With a total supply of 250 million coins, BONE is intended to serve as the governance token for the platform. This means that the "Doggy DAO" of the ShibaSwap protocol lets BONE token holders propose and vote on changes. It is also issued and rewarded to platform liquidity providers.
Killer doge (ticker: LEASH): This was initially launched as a rebase token, also known as an elastic token. This is a type of token that is similar to an algorithmic stablecoin in that the supply changes automatically using a computer algorithm to keep its price tied to another asset. In this instance, LEASH's supply was adjusted to 1/1,000 of DOGE's price.
For instance, if the price of dogecoin were $0.05, the supply of doge killer would change to $50, either by minting new tokens or destroying existing coins.
Since then, LEASH tokens have been "unleashed" and no longer track the DOGE price. Instead, LEASH has emerged as the primary store of value for the project's investors, despite the fact that there are only 107,647 tokens in circulation.

How it works ShibaSwap's three native coins, SHIB, LEASH, and BONE, can be used in six different ways on the ShibaSwap homepage.

Dig: The ShibaSwap platform's liquidity pool function is digging. Users can either create their own liquidity pools or deposit crypto assets in pairs here. ShibaSwap liquidity pool tokens (SSLP) are given to liquidity providers as a reward. Those tokens allow holders to redeem for free bone tokens and represent their portion of the pool's liquidity.
Woof: “ Woofing" is the ShibaSwap platform function for cashing out SSLP tokens to get BONE rewards.
Bury: This refers to the locations where SHIB, LEASH, and BONE tokens can be staked to earn high-interest yields in BONE tokens. The rates were, respectively, 171%, 266%, and 814% at the time of publication. A token representing the staked amount in xSHIB, xLEASH, or xBONE is given to users once they stake.
Thirty-three percent of staked BONE rewards are available right away, while the remaining sixty-six percent remain locked up for six months.
Swap: The ShibaSwap platform's exchange feature lets users swap between multiple assets.
Bonefolio: Users of this analytics dashboard have access to current interest rates and yield returns.
NFTs: Here, users can trade 10,000 unique, non-fungible tokens called "Shiboshis." These Shiba Inu cartoons look like CryptoPunks and are pixelated, and they have different characteristics, some of which are rarer than others.