SHIB is one of three Shiba Inu project tokens on the Ethereum blockchain. The other two ecosystem tokens are called BONE and LEASH. The decentralized exchange protocol of the automated market maker ShibaSwap incentivizes the liquidity provision of the platform. The token is part of an ecosystem according to the “Woofpaper” project, which also details “GrrrList.” It contains a blocklist of addresses of centralized exchange wallets. Such addresses do not receive the rewards offered by the protocol.
The Shiba Inu project kicked off in 2020 to surpass DOGE. In 2021, SHIB hit its All-Time High of $0.00007959.