Inventory of 10 projects worthy of attention in Shibarium ecology

Author: Qin Xiaofeng

On August 17, Shiba Inu developers announced at the Blockchain Futurist Conference that their Ethereum-based L2 expansion solution Shibarium has been launched on the main network, focusing on the deployment and development of Metaverse and game applications.

It is understood that the Shibarium network uses BONE as the basic token to pay Gas fees and rewards. Users must lock 10,000 BONEs in the Shibarium network to become a validator. According to official data, Shibarium’s testnet PUPPYNET was launched in March this year and has attracted millions of active users in the past five months, creating more than 21 million addresses.

From the official announcement of the development of the new chain in December 2021, to the repeated delays of the mainnet in the past two years, Shibarium finally went live smoothly. However, after going online yesterday, the Shibarium network failed twice, and the outage was stopped for up to 8 hours. According to Shibariumscan data, the main network has returned to normal. The total number of addresses exceeded 1,000 within two days of launch, reaching 1,083. The total number of blocks produced was 204,742, and the total number of transactions was only 252.

The advent of Shibarium seems to announce to the encryption market that MeMe coins can also do things and develop an ecology. According to the tweet of “KURO”, the moderator of the Shibarium technical community, hundreds of encryption companies or development teams have joined the Shibarium world, or used the network to build DApps. As follows:

Referring to Arbitrum and BASE, every early stage of a new ecology contains some wealth opportunities. Odaily Planet Daily collected and organized information on 10 ecological projects worthy of attention in the Shibarium network.

It should be noted that after Shibarium was launched, some projects claimed that they would be deployed on Shibarium. In fact, they just registered for Twitter and posted tweets, and even did not have an official website. The risk factor is high, and it is recommended to be cautious; in addition, some project smart contracts It has not been audited, and there are not many users and transaction volumes, so beware of rugs.

Project name: ShibaSwap

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Introduction: Shytoshi, the chief developer of Shiba Inu, once said that ShibaSwap is the only official decentralized exchange (DEX) in the Shibarium ecosystem. ShibaSwap uses three tokens to drive, namely Shiba Inu (SHIB), BoneShibaSwap (BONE) and Doge Killer (LEASH).

ShibaSwap mainly provides six functions: (1) trading, exchanging tokens for other tokens; (2) DIG (mining), providing liquidity (SSLP) for tokens to earn BONE rewards; (3) BURY (burying ), you can pledge SHIB, BONE and LEASH to obtain income; (4) WOOF, pledge SSLP to obtain token rewards; (5) DOGGY DAO, use tBONE for voting governance; (6) NFT, buy and sell NFT.

The Shibaswap product is the soul and connector of the Shiba ecosystem, and the Shibarium network also uses BONE as its native token. Currently, ShibaSwap TVL is $20.65 million, and its smart contracts have been audited by Certik.

Project Name: Ball Exchange

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Introduction: Ball Exchange is a decentralized exchange using the AMM model (Automated Market Maker), designed to support the Shibarium ecosystem. Its goal is to create a trusted platform that enables users to exchange native Shibarium tokens in a truly decentralized manner, without intermediaries or single points of failure. According to the official website data, the TVL of Ball Exchange is 127,000 US dollars, and the total transaction volume is 5.4 million US dollars.

Ball Exchange provides the following functions: (1) Swapping/Trading, peer-to-peer trading tokens; (2) Liquidity Pools, providing liquidity transaction fees; (3) Yield Farming, pledge and lock LP tokens to obtain platform tokens BALL Rewards—According to the white paper, 70.3% of the tokens will be used for Yield Farming; (4) IFO, a limited-time offer to buy new coins.

Project name: Shibarium cross-chain bridge

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Introduction: The official cross-chain bridge from the Shibarium network currently only supports the transfer from Ethereum to Shibarium, and there is a limit. It can only transfer 100 BONE ($120) at a time, and a single Gas needs 20-30 dollars, and it takes 20-30 minutes to wait , it is recommended to wait for the Ethereum network Gas to decrease before crossing the chain.

According to the news previously disclosed by the community, the lead developer Shytoshi Kusama stated that the assets bridged to the Shibarium network cannot be recovered, and they cannot be cross-chained back for the time being. However, the Shibarium team stated that an update plan is being worked out, and funds trapped in the cross-chain bridge are safe. Currently, the official cross-chain bridge TVL is $1.7 million.

Project name: Barkbridge

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Introduction: Barkbridge is another cross-chain bridge of the Shibarium network, unofficial, and previously participated in the PUPPYNET test network. Users pledge platform token BARK to get discounts when cross-chain; providing liquidity for cross-chain bridges can earn income; token BARK will charge a 5% handling fee when buying and selling. However, currently Barkbridge has not opened the Shibarium main network cross-chain bridge.

Project name: Shibarium Name Service

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Introduction: Shibarium Name Service is a Shibarium network domain name service provider. Users can register .inu domain names on this platform, through which they can receive cryptocurrencies, NFT and other content in Shibarium Metaverse. It should be noted that the platform token SNS must be used to register a domain name, and the price is 5.49 million (about 25 US dollars). In the future, chat applications will also be developed for domain name holders to communicate directly. According to official sources, Shibarium Name Service has acquired the cross-chain bridge Barkbridge for an undisclosed amount.

Project name: DogPadFinance

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What it is: DogPad is a utility ecosystem for launching and creating new tokens on the Shibarium chain. Specifically, its ecosystem includes the following parts: (1) launchpad, which can help projects raise funds; (2) pledge, users can pledge DOGPAD tokens to obtain income; (3) cross-chain bridge, which has not yet been opened; ( 4) LP farm, users can add LP on Uniswap and get LP tokens, and pledge to get DOGPAD rewards; (5) Locker, users will pay BONE tokens to lock liquidity tokens; (6) NFT, holding Platform creation NFT can get corresponding rewards; (7) Telegram Bot DeployerTelegram, telegram robots can deploy contracts without code knowledge.

DogPad token liquidity is completely burned and ownership is relinquished; the initial buyback at launch has a 13.5% vesting lockup and these tokens will be used to reward the community during the migration to Shibarium phase. There is also a 3% tax on $DOGPAD transactions, of which 1% goes to growing our liquidity pool and 2% goes to marketing and development.

Project name: ShibariumPad

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What it is: ShibariumPad is an Ethereum and Shibarium-based launchpad for raising funds for projects.

If a project wants to submit a fundraising application, it must hold a certain amount of platform token $SHIBP according to the level system. The official said that the project will be strictly reviewed. As of now, apart from fundraising for its own token SHIBP (February 2023), the platform has no other project cooperation cases.

In terms of tokens, 70% of the total SHIBP is destroyed when it is issued, 20% is used for liquidity, and 10% is used for pledge rewards. According to the official, ShibariumPad is developing the V2 version, and plans to make efforts in the Shibarium ecology, and functions such as token pledge will also be launched one after another.

Project name: Serp Finance

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Introduction: Serp Finance is a perpetual contract platform based on Shibarium. It has participated in the testnet PUPPYNET and supports up to 50 times leverage. All traders trade based on the SERP liquidity pool (VENOM).

VENOM is a collection of baskets of blue-chip assets and stablecoins that act as an AMM for leveraged trading. Liquidity providers can deposit any whitelisted asset into a VENOM pool in exchange for VENOM tokens, which represent an LP’s share in a diversified liquidity pool. This multi-asset VENOM pool supports trading, generating fees for liquidity providers through market making, swap fees, and leveraged trading.

Project name: CallOfShib

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Introduction: CallOfShib is a P2E chain game based on Shibarium, players can earn token rewards in the game. Call Of Shib features a ranking system that allows players to climb the leaderboard as they win more battles. The higher the level, the better the rewards, and players are rewarded with cryptocurrency for reaching certain levels. The ranking system also adds a competitive edge to the game, encouraging players to strive for higher ranks.

The game offers different modes, including: Deathmatch, where players fight each other, and the player with the most kills at the end of the round wins; Knockout, where both teams must kill all members of the opposing team (players can only respawn after the round ends ) to win, the team that reaches the maximum number of rounds will be the winner of the game, and dead players can watch teammates who are still alive.

Project name: Shibot

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Introduction: Shibot is a trading robot launched on Shibarium, which seamlessly integrates traditional trading practices with the dynamic functions of Telegram bots, aiming to improve the trading experience. Through Shibot, users can easily and quickly complete transactions as long as they enter the contract address. In addition, Shibot offers a robust set of post-market tools designed to support traders in implementing strategic measures, securing profits and dealing with complex liquidity issues.