Shiba Inu (CCC:SHIB-USD) is spending today on a tear. The Dogecoin (CCC:DOGE-USD) competitor is shaking things up with its less-goofy version of the meme crypto. And now that it’s on a rise, it’s bringing its partner token, the Doge Killer (CCC:LEASH-USD), along with it.
On the same day as SHIB’s 100% gains, LEASH picked up a 150% price boost. The token, which has a much steeper price tag than its sibling SHIB, is trading for more than $6,000. So, how does it work? Well, SHIB and LEASH operate together on ShibaSwap, the native DeFi exchange of Shiba Inu. The tokens both have their own rewards for how a user operates their wallet.
SHIB is the much more affordable and much more plentiful option. With 1 quadrillion total SHIB, investors can pick up a token for a fraction of a penny. They can then take these to ShibaSwap and either stake them for BONE (a third Shiba Inu token in the works), or “dig” with them, which rewards users by giving them a portion of the SHIB liquidity pool.
LEASH has a much shorter supply of just 107,647 tokens. LEASH can be staked for xLEASH, which rewards users by allotting 0.5% of all BONE generated per block. Similarly to SHIB, one can dig with their LEASH for BONE as well.
BONE, the third token on the Shiba platform, is only available on ShibaSwap. The BONE token is a governance token, and owning a lot of it means that you have lots of voting power on Shiba-related proposals.
The Bottom Line on Doge Killer (LEASH)
It’s likely that the quick rise of SHIB is what brought LEASH such massive gains. And, with such an innovative staking platform, users are incentivized to combine both LEASH and SHIB to generate maximum BONE. The entire ecosystem is fairly nuanced, so it’s worth checking out the Shiba Inu white paper for the full details.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article.