Cryptocurrency attributes
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Shiba Token, also known as Shiba Inu, is a decentralized cryptocurrency originally created in August 2020 by an anonymous person or persons known as "Ryoshi."
Fifty percent of the total supply of Shiba Token is locked to Uniswap, and the remaining was burned to Vitalik Buterin—meaning everyone has to buy Shiba Token on the open market; this is intended to ensure a fair and complete distribution and remove the possible problem of developers owning team tokens. As an ERC-20 altcoin, Shiba Inu was created on the Ethereum blockchain.
To help reverse the spread of Covid-19 in India, Vitalik Buterin, who held 50 percent of the total supply of Shiba, utilized the token to make a large crypto donation toward India's Covid Relief Fund and burned 40 percent of the total supply of Shiba to a dead wallet, which can help ensure the token's long-term success and stability.
The developers of Shiba Token also developed ShibaSwap, a decentralized financial platform, where the Shiba Token can be traded with related tokens LEASH and BONE. The LEASH token was set to be a rebase token, but has since been developed into a second token available on the ShibaSwap. The BONE token is a governance token that can be used to vote on upcoming proposals for the Shiba Token.
