SHIBU INU

Purpose and Utility

Shiba Inu was launched in August 2020 as a decentralized meme token. Initially created as an Ethereum-based alternative to Dogecoin, it has evolved to include utility through the ShibaSwap decentralized exchange, NFT marketplace, and a developing layer-2 blockchain called Shibarium.

Business Model

The project has expanded beyond its meme origins to develop legitimate utility through: 1) ShibaSwap DEX allowing token swaps and liquidity provision, 2) Shibarium blockchain for scalable transactions and dApp development, 3) SHIB: The Metaverse project for virtual real estate, 4) Shiba Inu NFT collections.

Real-World Adoption

SHIB has achieved significant merchant adoption, with companies like AMC Theatres, Newegg, and GameStop accepting it as payment. The Shibarium blockchain processes over 25 million transactions, demonstrating actual usage of the ecosystem.

Development Activity

The project maintains active development, with regular updates to Shibarium, ShibaSwap, and other ecosystem components. The developer community continues to build new applications on the platform.

Token Distribution

About 50% of the initial supply was sent to Vitalik Buterin who burned 90% of his holdings and donated the rest to charity. The remaining supply is distributed among holders with no single entity controlling a majority stake.

Sharia Considerations

The core functions of SHIB (payments, NFTs, blockchain infrastructure) do not involve interest-bearing mechanisms or prohibited activities. While ShibaSwap includes some DeFi features, the base token itself is not inherently tied to lending or interest.