Shiba Inu is an Ethereum-based ecosystem dedicated to the Japanese Shiba Inu dog breed. The project began in August 2020 with the ERC-20 token Shiba Inu (SHIB) and was created as a competitor to the memcoin Dogecoin (DOGE). The Shiba Inu ecosystem supports non-fungible tokens (NFTs) through the decentralized exchange ShibaSwap. The Shiba Inu ecosystem also includes LEASH and BONE tokens. [12]
Story
The project was created in August 2020 by an anonymous developer named Ryoshi. According to the team's original white paper known as the Woof Paper, the Shiba Inu's goal was to become a "Dogecoin Killer" and they are "determined and ready to surpass the value of Dogecoin "
The initial launch envisioned a total supply of one quadrillion tokens, of which 50% was allocated to Vitalik Buterin's wallet. Buterin donated one billion USD SHIB to the Indian Covid Relief Fund and burned a large number of remaining tokens, 410.24 trillion SHIB, approximately 40% of the total supply
On July 21, 2022, Buterin thanked the Shiba Inu community for creating the first group of recipients of the artificial intelligence grant program
