For hundreds of years, humanity has been subject to the concept of “centralization”, a hierarchical system of authority which steals power from the majority and distributes it to the controlling entities of our world. These centralized forces have managed to erode the fabric of the human spirit and pillage the planet, giving nothing in return to the billions of lives which depend on their benevolence. Despite our differences, most of us are simply searching for happiness, prosperity for our family and friends, and a financial path that can shelter us from the hardships of an unfair society.
With the imminent release of ShibaSwap, we are proud to lead the charge towards the dawning of a new era by presenting the first truly decentralized exchange and declaring our Shibapendence! This is just the first project of many to be championed by the decentralized groups which believe in the Shiba ethos and share our vision of freedom within a decentralized future. As we move to finally strike down FUD forever, we thank the ShibArmy for the tireless devotion which allowed us to come this far.
HOW TO PARTICIPATE:
Many ShibArmy members will simply stake their LEASH and SHIB using BURY but ShibaSwap’s fullest utility can be found in its liquidity features. For those who wish to be part of this historic event and want to earn the most BONE possible, we’ve made it easy to “ape” into ShibaSwap.
BONE is the main token of ShibaSwap and other ecosystem projects. While it has a maximum lifetime supply of 250 Million tokens, the supply (like the Shiba project itself) starts at exactly 0 the moment ShibaSwap goes live. For the first two weeks, starting from the initial block after deployment onward, there will be 1,000 BONE emitted per block (split among pool rewards). This is an accelerated emission to ensure a wide BONE distribution (which comes to approximately 1,000 BONE minted every 13 seconds for this two week Liquidity Enhancement period). After the first two weeks, there will be a reduction event to start slowing the production of BONE over time starting with returns at a rate of 100 BONE per block.
There are two ways to get BONE. One is to buy it on ShibaSwap using the exclusive ETH/BONE Pair. The other procurement method, as described above, is to farm it on the accelerated rewards schedule by depositing liquidity into selected pairs on ShibaSwap and “WOOFing” (staking) the LP tokens.
BONE is distributed on a per block basis using a thing called Allocation Points, or “AP”. AP is how we determine the weight of distribution that each pool will receive. As such, pools with Higher AP will get more BONE per block while, at the same time, potentially being more competitive.
Here are instructions:
- Go to www.shibaswap.com and go to the “WOOF” (farm) page to see the incentives, farming pairs, and their current APY%.
- Select the pair you want, go to the “DIG” (add liquidity) page, and then simply add liquidity for the pair. (Note: If you already have liquidity for this pair on Sushi or Uni, you can use the experimental “FETCH” function to migrate it, or just manually remove it from UNI/SUSHI and manually add it to Shibaswap.)
Once you’ve DUG up an SSLP token by providing liquidity, remember that you must WOOF (stake) your SSLP TOKEN TO GET BONE REWARDS. This crucial step is easy. Simply:
- Go to the ShibaSwap main page
- Navigate to the WOOF box and click FARM TOKENS.
- On the left, navigate to the token pairing you just DUG.
- Click to the pairing to show the APPROVE button.
- Once you’ve approved ShibaSwap to use your token, deposit the token and WOOF your BONE.
Below are the pairs that earn BONE for added liquidity and their AP.
BONE-ETH (ShibaSwap Exclusive) — 3000 AP
LEASH-ETH — 700 AP
SHIB-ETH — 500 AP
Big Dog LP Pools
ETH-WBTC — 300 AP
ETH-USDC — 300 AP
Swap LP Pools
SUSHI-ETH — 300 AP
UNI-ETH — 300 AP
Young Pup Pools
LINK-ETH — 100 AP
DAI-ETH — 100 AP
Newborn Pup Pools
(xFund) XFUND-ETH — 50 AP
(Synthetix Network Token) SNX-ETH — 50 AP
(Meme) MEME-ETH — 50 AP
(The Graph) GRT-ETH — 50 AP
(Unit Protocol New) DUCK-ETH — 50 AP
(Vectorspace AI) VXV-ETH — 50 AP
(Dogelon Mars) ELON-ETH — 50 AP
And that’s all there is to it.
This is the beginning of something wonderful. Before we leave you to howl at the moon, we want to share our gratitude for all of those that have supported us through the development of ShibaSwap. We have lost track of the number of times people have accused this of being some grand conspiracy, despite the fact that Shib has never deviated from our initial mission statement. We are, and have always been, volunteers doing our best for the community, even when our meticulous and cautious work has pushed back the release date for ShibaSwap.
We have always prioritized the safety and security of the ShibArmy and, in addition to the Certik audit, we have had multiple independent reviewers “audit” the code to ensure our success. In addition to that, we created a 6/9 multi-sig wallet that not only will have control of the dev fund (to be used for future yield incentive, salaries, and various expenses), but also have access to an emergency pause feature. We feel it is important to be transparent in this regard, as this is no different from most DeFi protocols which see billions of dollars in TVL and TX daily.
That being said, just know that this is only the first step of many in our Shiba journey together. I look forward to having many more.