Shibaswap is a native decentralized exchange (DEX) of the Shiba Inu coin. The Shiba Inu team has been working on this project since early 2021, highlighting Shiba Inu's ambitions to become more than just a meme altcoin.

ShibaSwap is designed to be as easy to use as possible, while still offering a wide range of features that would satisfy even the most demanding traders. Just like PancakeSwap and Uniswap, ShibaSwap operates without a single or central authority.

However, ShibaSwap may have a greater profit potential than PancakeSwap and UniSwap. After all, it not only has one, but four reward features! These functions allow ShibaSwap users to earn token rewards which can provide a good stream of passive income.
ShibaSwap Tokens (SHIB, BONE and LEASH)

ShibaSwap isn't just powered by a single coin. In addition to Shiba Inu (SHIB), two other tokens power the ShibaSwap ecosystem — Doge Killer (LEASH) and Bone (BONE). These three tokens work in synergy to create a liquid, secure and profitable ecosystem.

Let's take a look at SHIB, LEASH and BONE in more detail.
Shiba Inu (SHIB)

SHIB is the heart of the exchange. It was created in August 2020 by a founder using the name Ryoshi. The mascot of SHIB is a Shiba Inu, the same breed as Dogecoin's mascot. SHIB runs on the Ethereum blockchain, offering maximum safety and functionality to its users.

Despite its price, the value of Shiba Inu coins is hovering around $26 billion, due to the approximately 549 billion coins in circulation. In the beginning, SHIB had nearly one quadrillion authorized coins. However, around 40% of these coins were burned in May 2021 by Ethereum co-founder Vitalik Buterin.
Bone (BONE)

BONE serves as the governance token for the entire ShibaSwap ecosystem. It allows the lodgers to propose and have a say in changes to the ShibaSwap protocol through the Shiba Inu Doggy DAO. In theory, the more BONE coins a holder has, the more weight their vote has on future decisions.

As of this writing (16/06/2022), the BONE trading price is roughly $0.36 and the token has an outstanding supply of 6.98 million coins, with a maximum token supply of 250 million coins.
Doge Killer (LEASH)

Doge Killer (LEASH) is the incentivized token in the ecosystem. Originally, LEASH was planned as a rebase token (or “elastic token”) of DOGE. Rebase tokens are similar to stablecoins. Their supply is automatically modified through an algorithm that keeps their price pegged to other assets. However, LEASH has since been de-pegged from DOGE, and has been launched as an ERC20 token with a fixed supply of coins.

Unlike BONE, LEASH is pretty rare, with a total supply of just 107,647 tokens. Because of this scarcity, each LEASH coin is currently valued at $302.13 per coin. That's how the law of supply and demand affects coins — the lower the supply, the higher the price.
Earning Rewards In ShibaSwap

There are currently four ways to earn rewards in the ShibaSwap ecosystem: Dig, Woof, Bury, and Burn Portal. Here's how each of them works.
Dig

The first way to earn rewards in Shibaswap is through its liquidity pool, called Dig. The way it works is pretty simple: Each user who locks their SHIBA tokens in the Dig pool receives free BONE tokens. The percentage of rewards depends on how many SHIB tokens you’ve got locked in the pool.

Liquidity providers are compensated with ShibaSwap Liquidity Pool tokens (SSLP). These tokens are a representation of the users' shares in the liquidity pool, which they can redeem for BONE tokens whenever they want.
Woof

The second way to earn rewards in ShibaSwap is called Woof. It’s actually a yield farm pool that allows users to exchange their BONE rewards with each other by swapping their SSLP tokens. You’ll be able to claim 33% of the rewards immediately, but the remaining 67% will be locked for the next six months.
Bury

A user can stake their SHIB, LEASH and/or BONE tokens in the Bury function to earn high-interest rates. Users will receive xSHIB, xLEASH or tBONE, according to the type of token they stake. These tokens are representative of the tokens that the users have staked. Once the user stakes a certain amount of tokens, 33% of the returns can be claimed weekly, while the remaining sum will be locked for six months.
Burn Portal

As you probably know, "burning" tokens means permanently removing them from circulation by sending them to a wallet they can never be retrieved from. ShibaSwap has introduced a new burning mechanism that rewards their community members who burn the protocol's native SHIB token. It allows users to dispatch SHIB tokens to a dead wallet address, and in exchange, ShibaSwap sends RYOSHI tokens to them.
More Features of ShibaSwap

In addition to its reward features, the ShibaSwap platform also provides other DEX functions in addition to the token exchange feature.
Swap

As mentioned above, the ShibaSwap exchange allows users to exchange or swap tokens for other tokens. They can also exchange a single asset for multiple other assets, - depending on the value it holds.
Doggy DAO

Doggy DAO is the governance system that drives the entire ShibaSwap ecosystem. It's a decentralized autonomous organization (DAO) that gives users a stake in the Woof liquidity pool, as well as the right to vote on certain issues.
NFT

Non-fungible tokens (NFTs) are still a new concept, but they're becoming more and more popular. ShibaSwap offers its own NFTs, called Shiboshis. These NFTs will be a part of the gaming project called the Shiboshi Game. The NFT project features roughly 10,000 pieces of the Shiba Inu mascot cartoons, similar to the popular CryptoPunks. These NFTs vary in nature, rarity and value. Shiboshi holders can also customize their own Shiboshis, which adds value to the NFT as well as delivering certain unique properties in the game.
Bonefolio

Bonefolio, or ShibaSwap Analytics, is a complete analytics page where historical staking data, trading data and ROI information can be found. The user can find burn and mint amounts here, as well as transaction fees. The function also has a portfolio tracker with which users can easily keep track of their yield rewards.