“You must understand that there is more than one path to the top of the mountain” — Miyamoto Musashi
Hi! I’m Shytoshi Kusama and for those of you in the ShibArmy who don’t know who I am, I am a ShibArmy member like all of you. Through a twist of fate, I was tasked with the job of completing ShibaSwap, and, despite the hours of FUD, we did just that. It wasn’t easy by any means, but alas, we released a successful swap on Shibapendence day and continue to have success with it. Quickly, happy 6th year anniversary to Ethereum. Without Ethereum and the Woofmeister, we wouldn’t be here.
So what’s next on our agenda many of you may wonder? As Ryoshi left our presence on Telegram, he blessed us with a Decentralized Treasure Map to build the best and most extensive decentralized ecosystem in the world. Therefore, in this article, I’m going to discuss more in detail the next phase of the Shiba Inu Ecosystem that which we’ve named, PHASE TWO.
But before I move onto the plans set by Ryoshi, and how we’ve began moving to complete them, let me first give an update to ShibaSwap.
ShibaSwap has a complex multi-reward (return) system that rewards Shibians by giving returns from swaps on the platform. By implementing Timelock and our Multi-Sig for safety, we created a system that requires hours, and hours of signatures from multiple parties as the returns are processed. This is not feasible, nor scalable, so we have decided to move return distribution to a bi-weekly fashion. The same hours will be required by the Shib Round Table for signing transactions, but this change will allow us to focus manpower on improving the swap and blitzscaling to compete with some unnamed centralized entities.
Secondly, we are changing the pairs that receive allocation points in our Woof Pools. Effective Monday August 2nd or before, the allocation points for the following tokens will be reduced to 5 AP. This will allow us to create new token pairs on the swap for tokens we have found to be interesting, have significant volume on the swap, or have a use case that is intriguing. The next three tokens we are listing have found virality in our community and as a result significant buzz and traction. Here are the updates:
SHIB-WETH => Current 500 => New 700AP
LEASH-WETH => Current 700 => New 900AP
LEASH-BONE — from 900 allocation points (AP) to 450 AP
SHIB-BONE — from 600 AP to 300 AP
ELON-WETH — from 50 AP to 5 AP
DUCK-WETH — from 50 AP to 5 AP
VXV-WETH — from 50 AP to 5 AP
MEME-WETH — from 50 AP to 5 AP
WETH-USDT — from 300 AP to 600 AP
WETH-UDSC — from 300 to 600 AP
WETH-DAI => from 100 to 600 AP
NEW LISTINGS ON SHIBASWAP:
F9-WETH => 20AP ( https://shibaswap.com/#/add/ETH/0x38A94e92A19E970c144DEd0B2DD47278CA11CC1F )
UFO-WETH => 20AP ( https://shibaswap.com/#/add/ETH/0x249e38Ea4102D0cf8264d3701f1a0E39C4f2DC3B )
STARL-WETH => 20AP ( https://shibaswap.com/#/add/ETH/0x8E6cd950Ad6ba651F6DD608Dc70e5886B1AA6B24 )
We are also in discussions with Zignaly, Perl.eco and 20 other tokens to be listed shortly.
DOGGY DAO (Partial Opening)
I’m EXTREMELY happy to announce our Doggy Dao is partially ready for use. This gets us one step closer to being fully decentralized. The Doggy Dao allows us to officially open the swap for new tokens that will gain AP in our WOOFable pools.
Here’s how it works. The ShibArmy members holding 30k in Bone or more, will be able to submit new token proposals via our temporary Doggy DAO using snapshot: https://snapshot.org/#/shiba-swap.eth where we will put up proposals for listing new tokens and the community can vote within 48 hours and once approved, we will list the token in our Woofable pools. It should be noted here, that every new token listed on our WOOFable pools will either be required to pay a listing fee (paid in LEASH) or provide additional tokens to be given as an added incentive to users in the pool. If your token is ready to be on ShibaSwap, please reach out to the listings team via email: WOOF@shibatoken.com or submit a proposal today!
WOOFMAP: PHASE 2
To make Shiba Inu Ecosystem grow and meet it’s full potential, we are implementing the Phase 2 plan laid out by Ryoshi. If I can recap Ryoshi’s vision in a few words it’s a Decentralized Financial Totality. His Ecosystem vision consists of the 5 interlocking components previously mentioned HERE.
Let’s recap each component and give an update:
- ShibaSwap: LAUNCHED (Note above updates.)
- Shibarium AKA L2: Shibarium is Shiba’s Own Blockchain. Our team has begun working with our friends at Xfund to complete this project. There is a large team assigned to completing this in a timely fashion. It is no easy task to create a working blockchain, but we believe we will complete this task this year as it fits in with the other interlocking components of the ecosystem. Again, this will be fully decentralized and the blockchain will be as everything we do, community driven. It should also be noted that Ryoshi saw BONE as the native token to Shibarium (just like BRB or Matic for their respective blockchains). This of course gives additional utility to BONE once this portion of the ecosystem goes live.
- Shi- The global exchange of value: Shi pegs to $.01 and allows for “plebs” to have a fully decentralized token that can be used for exchanging goods without a concern of the change in value day to day, or even minute to minute. This is especially important when dealing with businesses that have invoices that get paid 30 days out, or when dealing with transactions aren’t instantly settleable (credit cards). We are working on finding the perfect methodology to implement this token. Ryoshi says this: “The end goal is that SHI (operating both on ETH and the Shibarium) becomes a global stable currency that plebs across all countries are able to use as both a store of value and method of payment.” In Ryoshi’s vision, “LEASH governs Shi specifically.” We are investigating how exact this portion of his vision while granting more power and utility to one of my favorite tokens, LEASH.
- Shibarium financial ecosystem- I would count this as Phase 3 as it requires a completed Shibarium. For now we will skip this.
- ShibaCon- I’ve heard murmurs about this and I personally think it should coincide with DevCon. Once it is organized send me an invite, I’ll be there incognito.
While these components are part of Ryoshi’s vision, my vision is slightly different and yet complements this idea totally. I’m proud to explain here.
A financial institution is only good as the consumers and businesses that utilize their financial instruments. Countries have GDP, and since SHIB is a decentralized force, a methodology to collect, trade, buy and sell in a fully decentralized manner is needed. For this, we’ve updated the concept our of our Artist Incubator to be the Shiba Inu Incubator.
Our team will pick the best artists, writers, producers, businesses, musicians, artisians, craftsman, wholesalers, and everyday hustlers to join the incubator. This will be done using our Launchpad system which will be unveiled In August. Once approved into the incubator, cohort members will learn more about the Shiba Ethos, and meet special guests (including Gareth Emery in a fireside chat). They’ll be expected to work closely with the SHIBANET team to create their own ShibaSite and build out the initial infrastructure for our Shibian consumers.
Technologically speaking, ShibaNet is a new way for any business, or person to sell products. For the reasons mentioned above, SHI will be the main payment system on ShibaNet so that we can have a stable payment system. However, as ShibaNet runs on Shibarium, with Shi as the main currency, you can see how all the tokens work together to govern the system, keep it decentralized, and move this global network forward. Finally, with ShibaSwap as the gateway from other tokens to swap to Shi, and returns given from these swaps, we hope you see how the complete vision actualizes itself.
ShibaNet works via a network of NFTs and has many additional features that are outside the scope of this article. However, one I am particularly proud of is the ability to split residual or royalty payments between parties whenever a contract is activated (item is sold). This reduces the need for multiple hours of contract work in industries that are otherwise ridden with shady contracts and deals where artists and sub-contractors rarely see their residuals. We’ve seen how well something like this works in apps like Uber and DoorDash, but now we’re looking at a scalable, global, decentralized system that I am hoping will disrupt ALL industries. In other words, it’s time to give the little mom & pop shop the ability to shine again, and Shiba Inu is here to make this a reality.
The technological side of this project is currently WORKING and is ready to begin deep audits (which as we’ve seen can be rather time consuming). We’ll be turning to our network of trusted devs, and also to Certik to once again prove this protocol is safe for all users, and as we do so, we will be working on scaling the “Incubator” side of this project. Under the incubator, you’ll find scores of projects that have Shib at their core. I personally, am hoping to have an impact in a few industries including Scents, Stories, Style, Film, Food and a few others where my “influence” helps to bring in the most talented and best of each industry under our decentralized banner.
Monday we begin accepting applications into our Incubator. Check our Twitter and website for details on how to join!
NFT PROJECT- YOU NAME IT!
In the meantime, Shiba Inu will introduce our first official NFT set! We’ve seen amazing NFTs from our community in the past, but this NFT set is a group of 10,000 Shiba NFTs with special attributes. Reminiscent of CryptoPunks and HashMasks, any of these amazing NFTs are a great addition to your Crypto Wallet. Best of all, the team is investigating ways to implement SHIB burns into the system to change the attributes of your purchased NFT.
I hope this article destroys the FUD surrounding Shib and helps the community realize exactly what we are building and our evolution from a meme token to a truly decentralized ecosystem.