SHIB in on Binance while DFYN got listed on Polkastarter
SHIBA INU (SHIB) token got investors attention today after Binance announced that it would list the token in the Innovation Zone. The exchange will also open trading for SHIB/BUSD, as well as SHIB/USDT trading pairs, on May 10, 2021. Investors can already start depositing SHIB in preparation for trading.
SHIBA INU (SHIB) is a decentralized Meme token. It began as an experiment in decentralized community building. SHIB is similar to Dogecoin. It is also the native token of SHIBA INU. According to its creators, it will be the first token to be used as an incentive for using ShibaSwap, a decentralized exchange.
SHIBA’s community already counts 220k+ members, and it’s still growing. SHIB allows customers to hold billions or trillions of them. Users nicknamed it the DOGECOIN KILLER as there is some rivalry between this ERC-20 token and Dogecoin.
The team locked 50% of the token’s total supply to Uniswap and burned the remaining 50% to Vitalik Buterin. They were the first project following this path. Thus, everyone has to buy on the open market, ensuring a fair distribution where devs don’t own team tokens.
The team will also launch LEASH and BONE tokens
The company initially planned LEASH to be a rebase token pegged to the price of Dogecoin. However, the team stated that it has been unleashed and will not rebase. There is a total of 100k LEASH tokens in circulation, and it has the opposite appeal to Shib. The latter also has a much larger supply.
There is also the second token incentivized on the swap. It offers special rewards for users who provide liquidity. The team announced that BONE Dogecoin Killer is their next token. According to them, Shiba Inu Bone will take the power of Defi to the next level.
Thus far, investors could buy or sell SHIB or LEASH safely on Uniswap. However, from today it’s available on Binance, as well.
Meanwhile, Polkastarter launched the DFYN token’s ICO on its platform
The Dfyn Network’s native DFYN token ICO started today. The platform plans to raise $305,500 by selling 3,250,000 tokens at a price of $0.094.
Dfyn Network is a multi-chain AMM DEX. The team is building it to become an inter-connected AMM with nodes spread on different blockchains. As a result, those AMMs will be able to share liquidity and even enable cross-chain swaps. Dfyn is a true multi-chain AMM explicitly optimized for the cross-chain universe.
Polygon instance deployed of Dfyn is a gasless exchange where customers have to sign the transactions without any fees passed to users.
Dfyn will be able to act as a multi-chain DEX with Dfyn nodes spread across multiple Layer 1 and Layer 2 blockchains. That will allow the platform to plug into a liquidity super-mesh, simultaneously enabling customers to perform their asset trades on several blockchains from a single interface.
Furthermore, Dfyn plans to build a decentralized swap station. It will swap large assets natively like BTC, ADA, ETH, in a non-custodial way soon. Dfyn AMM will also address traditional AMM DEX issues, like impermanent loss, along with providing enhanced trader analytics.
What should traders know?
DFYN token’s public distribution process started on Polkastarter today. The team announced that only whitelisted users would be able to participate in the token’s IDO to ensure the distribution of Dfyn tokens fairly and transparently.
However, there were two whitelists. During the first round, 300 slots were available. Two hundred whitelisting slots went to Dfyn Liquidity Providers, while $ROUTE holders got 60 whitelisting slots, AMA winners took 30 whitelisting slots, and Dfyn Meme competition got ten slots.
According to Dfyn, users had to participate in this round if they wanted to participate in the whitelisting round by providing liquidity on the Dfyn exchange. They didn’t need POLS to join in the first round, but the second round will be targeted only towards POLS holders.
The PRARE ICO also began today. What does POLKARARE platform offer?
The POLKARARE project began its ICO today. It’s planning to raise $35,000 through the sale of 350,000 native tokens at an ICO price of $0.1. The initial coin offering will end on May 11, 2021.
PolkaRare is a web3 economy, enabling users to create, trade, and discover NFTs. Powered by Binance Smart Chain, Polkadot, Ethereum, and Polygon, this platform offers artists a seamless onboarding experience. Users don’t need to use Metamask or make contract transactions on their own with PolkaRare. The platform provides a range of tools to customers to unlock the maximum potential of NFTs.
Token holders can use PolkaRare’s native token $PRARE for governance and staking rewards, as well as medium of exchange, NFT farming, etc.
Pramod Mahadik, a professional software developer, founded PolkaRare. Pramod has more than eight years of experience in building projects. He has previously served at Rediff and Halalbox. Besides, Pramod has also over four years of experience in the Blockchain space. He is a successful influencer and venture capitalist.
PolkaRare’s users will have various advantages
PolkaRare offers customers NFT creation, NFT trading, community rewards, multi-token support, price discoverability, and support licensed content drops, along with charging low network fees. Most of the NFT platforms are based on Ethereum currently, but the high traffic of the Ethereum network often causes various issues in creating and trading NFTs.
PolkaRare plans to become a multi-chain NFT platform, where users and creators can optimize the blockchains, as well as seamlessly transfer them across different networks. According to the team, PolkaRare NFT creation will start on Polygon and Ethereum chains. Furthermore, they will add the NFT to the BSC in the next phase and will extend to other blockchain networks gradually.
A total supply of PRARE counts 100,000,000 tokens. However, PolkaRare will sell only 36.375% during the ICO.
$PRARE token holders will be able to propose and vote on various key proposals; The team will also use the tokens as a primary mode of payment on PolkaRare and reward Stakers with platform fees. Users can stake PRARE to earn PRARE or to farm rare NFTs.
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