Company description
ShibaSwap allows users to voluntarily burn their SHIB holdings, i.e., sending the tokens to a dead address. In return, the platform rewards the users with Ryoshi Token (RYOSHI), an ERC-20 token explicitly created as a burn reward. ShibaSwap also enables the minting, customization and trading of native nonfungible tokens (NFTs) called “Shiboshis.” These 10,000 digital collectibles of the Shiba Inu mascot cartoons will likely be a part of the gaming project called the Shiboshi Game.
ShibaSwap grants users trading fee rewards (0.3% per trade) proportional to the liquidity they provide to its coin pairs. The rewards are handed out as Shiba Swap Liquidity Provider (SSLP) tokens are redeemable for BONE tokens whenever the liquidity provider wants. SSLP holders can deposit these tokens to ShibaSwap’s yield farm pools to earn BONE rewards. This reward mechanism is similar to BURY, where users redeem one-third of the rewards instantly but need to lock the rest for six months.
