시바이누 (SHIB) 토크노믹스

Shiba Inu (SHIB) is an ERC-20 token launched on Ethereum in July 2020 as a meme-based, community-run project. Its tokenomics are characterized by a massive initial supply, significant burning events, and utility derived from the broader Shiba Inu ecosystem, which includes the decentralized exchange ShibaSwap and the Layer-2 blockchain Shibarium.

Issuance Mechanism and Allocation

The initial issuance and distribution of SHIB were highly unconventional, contributing to its unique tokenomics profile.

Initial Supply and Distribution

The total supply of SHIB was initially divided into two equal halves:

• 50% of the total token supply (500.00 trillion SHIB) was locked into the SHIB-ETH liquidity pool on Uniswap upon launch in July 2020. This mechanism ensured immediate liquidity and a fair launch process.
• The remaining 50% of the total token supply was allocated to Ethereum co-founder Vitalik Buterin's personal wallet.

Allocation and Burning

The allocation to Vitalik Buterin resulted in a massive, unplanned burn and donation event:

• Burning: Approximately 82% of the supply sent to Buterin (around 410.00 trillion SHIB) was permanently burned.
• Donation: 10% of the supply sent to Buterin (50.00 trillion SHIB) was donated to the India COVID relief fund.

As of January 24, 2024, approximately 410.40 trillion ERC-20 SHIB has been burned, representing about 41.04% of the total token supply. The project team itself was not allocated a share of the total token supply.

Usage and Incentive Mechanism

SHIB serves multiple functions within the Shiba Inu ecosystem, primarily centered around the ShibaSwap DEX and the Shibarium Layer-2 network.

Primary Functionalities of SHIB

The ERC-20 SHIB token has four main intended functionalities:

1. Staking ("Bury"): Users can stake SHIB on ShibaSwap to receive xSHIB tokens. Holding xSHIB entitles users to:
   • Inflationary BONE rewards.
   • A share of 0.10% of swap fees generated on ShibaSwap, paid in ETH.
2. Liquidity Provisioning ("Dig"): Users can provide SHIB and a paired asset as liquidity to pools on ShibaSwap. This activity earns them transaction fees from swaps, distributed in both SHIB and the paired asset. Liquidity providers can also stake their received LP tokens ("Woof") to earn inflationary BONE rewards.
3. Burning for RYOSHI Rewards: SHIB can be burned on the ShibaSwap Burn Portal to earn rewards in the RYOSHI token. These rewards are distributed every two weeks, sourced from 1% of all RYOSHI transactions.
4. Burning on Shibarium: The project team has stated that an automatic SHIB token burn mechanism is expected to be implemented on the Shibarium Layer-2 network.

Ecosystem Tokens and Roles

The Shiba Inu ecosystem utilizes several tokens, each with a distinct role:

Locking Mechanism and Unlocking Time

Locking Mechanism (Staking)

The primary locking mechanism for SHIB is staking, referred to as "Bury" on the ShibaSwap DEX.

• Staking SHIB: Users lock their SHIB to receive xSHIB. This mechanism is for earning rewards and participation, not for network security.
• Staking BONE: BONE is the governance token. Staking BONE yields tBONE, which is required to vote on governance proposals via the Doggy DAO and Snapshot. BONE is also intended to be staked by validators and delegators on the Shibarium Layer-2 network to secure the chain and earn BONE rewards.

There are no minimum or maximum requirements for staking SHIB, LEASH, or BONE, and delegation is not applicable for the staking mechanisms on ShibaSwap.

Unlocking Time

Information regarding specific future unlocking times or vesting schedules for the Shiba Inu token was not available. The initial distribution involved locking 50% of the supply into a Uniswap liquidity pool and sending the other 50% to Vitalik Buterin, who subsequently burned the majority of it. The current locking mechanisms are primarily user-initiated staking on ShibaSwap, which typically involves a withdrawal period rather than a fixed vesting schedule.