Shib, known as the "Dogecoin Killer", is about to launch a Beta version of its Layer 2 solution Shibarium. Shibarium Beta runs on Ethereum. The chain has the advantages of scalability, speed, and low fees, and can serve different industries such as Metaverse, Web3 use cases and games, and help reduce the load of the blockchain network and improve the user experience of metaverse and game applications .

Different from the currently popular PoS consensus, Shibarium adopts the DPoS (Proxy Proof of Stake) consensus. In this consensus mechanism, not all network participants are able to validate transactions and create blocks, instead a select group of validators are selected through a voting process. Individual users can delegate voting rights to validators of their choice by voting.

Shibarium Beta is backed by its ecosystem tokens Shiba Inu (SHIB), Doge Killer (LEASH) and Bone (BONE).

BONE tokens will be used to pay Gas fees and reward validators and delegators in the Shibarium protocol. Since its birth in July 2021, its main function has been related to governance. The total supply of BONE is 250 million, of which 20 million has been reserved for rewarding validators and delegators in the next few years, and is voted by the Shiba community through the DAO process.

With a total supply of just 107,646 tokens, the LEASH token is positioned as a special token for loyal supporters of the ecosystem, enabling holders to enjoy exclusive benefits and access. For example, BONE token rewards for liquidity providers on ShibaSwap, exclusive access to Shiboshi NFT minting rights, and early access to Shib: Metaverse land sales, etc.

According to Coingecko data, the price of LEASH tokens has increased by 35.16% in the past 7 days.

Currently, the Shiba Inu ecosystem is still in the early stages of development, and they are still building their own DEX, NFT, Metaverse, etc. Next, let's take a look at what projects are in the Shiba Inu ecosystem?

DEX：ShibaSwap

ShibaSwap is a decentralized exchange that allows users to trade various digital assets in a trustless and secure manner. Built on top of the Ethereum blockchain, the platform utilizes the 0x protocol to provide a decentralized and trustless trading experience, and will support its Layer 2 network after the Shibarium Beta launch.

ShibaSwap is currently supported by three tokens: SHIB, LEASH and BONE, with the following functions:

Swap exchange function: Allow users to use the Swap function to safely and reliably trade tokens held in their wallets.

Bury feature: The Bury feature on ShibaSwap allows users to "stake" their Shiba Inu ecosystem tokens and earn staking rewards. The rewards obtained are proportional to the amount of SHIB, LEASH or BONE tokens pledged by the user.

Dig function: Allow users to use ShibaSwap to provide liquidity and get SSLP tokens representing your share in the liquidity pool. In most cases, users only need to hold SSLP tokens to earn their share rewards from the fees generated by the trading pair.

Woof functionality: Woof is where liquidity providers stake their SSLP tokens for additional rewards. In order to obtain additional liquidity rewards, users must stake these SSLP tokens on ShibaSwap's Woof page.

NFT：SHIBOSHIS

SHIBOSHIS is 10,000 Shiba Inu NFTs on Ethereum, and is the official NFT series. Currently, the NFT floor price is 0.69 ETH.

During the minting phase, each wallet is limited to a maximum of 10 SHIBOSHIS NFTs. LEASH token holders have the opportunity to purchase SHIBOSHI NFTs first during the minting phase. Finally, the series of NFTs were sold out within 34 minutes, causing a brief spike in gas prices.

Holding SHIBOSHIS NFT can obtain various rewards and utilities, such as direct communication with the development team and core team members of the Shiba Inu ecosystem, having a say in the development, design and implementation of SHIBOSHIS and its affiliated projects, renaming your SHIBOSHIS NFT (But each change of SHIBOSHI's name will cost 100 USD in SHIB, and the name can only be used once in all NFTs), obtain land qualifications in the SHIBOSHI metaverse in advance, and so on.

Metaverse: SHIB: Metaverse

SHIB: The Metaverse is made up of 100,595 Lands that act as plots of virtual real estate that can generate passive income, collect in-game resources, and earn rewards. Some land is reserved for public facilities such as roads and assembly spaces (HUBS). The land parcels that make up HUBS are not for sale, but are available for lease.

During the introduction phase of SHIB, 36,431 pieces of land will be unlocked, and 4 different areas will be revealed at the same time, and they will be divided into 4 levels. Different levels will allocate different amounts of land and different prices:

• Tier 4 Silver Fur： 17, 030 ， 0.2 ETH

• Tier 3 Gold Tail： 7, 356 ， 0.3 ETH

• Tier 2 Platinum Paw： 5, 714 ， 0.5 ETH

• Tier 1 Diamond Tooth： 2, 024 ， 1 ETH

• and HUBS: 4,307

During the sales phase, SHIB: Metaverse has three rounds of sales activities:

• Tender activity (72 hours)

At this stage, participating users need to lock LEASH tokens or SHIBOSHIS NFT, the bidding will only last for 72 hours, and all land purchases are done with ETH.

• Holder Event (7 days)

This campaign is for LEASH token and SHIBOSHIS NFT holders who did not initially participate in the bidding campaign. At this stage, LEASH tokens and SHIBOSHI NFT holders can purchase without a bidding mechanism. All land purchases are done with ETH.

• Public Sale (Ongoing)

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GameFi: Shiba Eternity

Shiba Eternity is a free card game with more than 500 unique cards and 10,000 different SHIBOSHIS heroes, the game is integrated with SHIBOSHI NFT, users can use their own SHIBOSHIS NFT in the game, while Shiba Eternity also allows you to create your own deck of cards based on the characteristics of your own Shiboshis and the 6 warriors (Chewjitsu, Taikwondoje, Ryo Chi, Bite Thai, Woof Chun, Shyjitsu).

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TREAT Token

On the Shib official website, we can also see a page for the upcoming reward token TREAT. At present, there are not many details of the TREAT token, but it will be used for ShibaSwap, Shiba Metaverse, Shiba Eternity, and as a reward for validators.