Shiba Inu Launches 40 Million SHIB Giveaway to Mark Historic Listing

TLDR

• Shiba Inu launched a special giveaway to celebrate its debut on the cross-chain lending market.
• The giveaway rewards one lucky winner with $500 worth of SHIB tokens, approximately 40.45 million SHIB.
• To participate, users must like and repost the Folks Finance announcement and follow both Shiba Inu and Folks Finance on social media.
• Participants are required to tag three friends in the comments to be eligible for the giveaway.
• The giveaway started on September 4 and will run for 48 hours, ending on September 5.

Shiba Inu has launched a special giveaway to celebrate its debut on the cross-chain lending market. The announcement comes shortly after Chainlink’s Folks Finance listed SHIB on its platform. The event aims to increase the token’s presence across 12 blockchains, such as Polygon, Avalanche, Arbitrum, and Base.

Shiba Inu Celebrates Cross-Chain Lending Market Listing

The Shiba Inu ecosystem team has announced a giveaway to mark SHIB’s first-ever listing on a cross-chain lending market. The reward for one lucky community member will be $500 worth of SHIB tokens. This amount equates to approximately 40,453,074 SHIB, based on the current price of $0.00001236 per token.

To participate, users must like and repost the Folks Finance announcement about SHIB’s listing. Additionally, they must follow both Folks Finance’s and Shiba Inu’s official social media accounts. Participants also need to tag three friends in the comments to be eligible for the giveaway. The event started on September 4 at 7:49 PM (UTC) and will run for 48 hours, concluding on September 5 at 7:49 PM (UTC).

Cross-Chain Lending Boosts SHIB’s Reach

Shiba Inu’s cross-chain integration into Folks Finance’s lending market highlights its expanding utility beyond its meme origins. The initiative positions SHIB within the blockchain-based financial services space, increasing its relevance in the crypto ecosystem. According to Folks Finance’s announcement, users can earn a 9.08% annual percentage yield (APY) by depositing SHIB into its lending market.

The incentive has already shown positive results, with SHIB deposits reaching $32,000, marking a 28% increase. SHIB’s participation in this cross-chain lending market offers more opportunities for its community to engage with the token. It also demonstrates the growing versatility of Shiba Inu in the evolving decentralized finance landscape.

Shiba Inu’s team is using xAI’s chatbot, Grok, to ensure fairness and transparency in the giveaway process. Grok will randomly select the winner once the 48-hour period has passed. The transparency of the AI-driven selection process reflects the ecosystem’s commitment to maintaining trust within the community.

Shiba Inu’s move into cross-chain lending is an important step in expanding the token’s functionality. It not only rewards loyal supporters but also helps increase awareness about the broader utility of SHIB tokens.

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