Shiba Inu (SHIB)

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"I am an independent trader of cryptocurrency for a couple of years and have always been fascinated about the genesis of decentralized communities. To be specific, to what degree are they seeded and guided by invisible hands or can they really grow from seed to something perpetual and 100% community owned in the same way we see BTC or DOGE with no central figure or organization maintaining. So when we design the SHIBA experiment, our goal was very altruistic to give an opportunity for fair distribution and ownership from day 1. This means even if I RYOSHI and my frens setup SHIBA, we have no more potential for ownership that anybody else in the world."

"According to SHIBA INU, the reasoning behind the creation of SHIBA is that Shibas constantly forget where they bury their treasure. The website proclaims "Many doggie wars have been waged over precious treasure and delicious goodies.""

Audits & Exploits


  • From their blog (1-2-2021):

"Our official twitter got hacked so until we get that back, don’t trust anything published there."


Doggy DAO

"The Doggy DAO phase 1 will provide “immediate power to the community to decide which crypto projects and pairs on the Shibaswap WOOF Pools will be, and how the $BONE rewards (Allocation Points) are to be distributed amongst them,” the blog post explains. The governance system will leverage $tBONE for votes and $BONE for staking.

“This is a crucial first step, orienting our Decentralized Exchange to grow, while promoting all the benefits to the #Shibarmy from such pairs, and welcoming new investors to use the platform,” the SHIB team says."



"First thing is I had a fren that i met at devcon last year in Osaka who has some influence in the space, we talk sometimes about Crypto philosophy and I told him the vision and he agreed to help. So he made a token contract and put half of it on Uniswap with 10ETH pair (he is successful business man so 10ETH is nothing for him) and threw away the liquidity keys so the ETH or the tokens can never be withdrawn. He then transferred the rest to me to do my part. STEP ONE complete, we have a $SHIB token made and 50% Supply locked into sale contract and the other half to my burning wallet. Thank you fren!"

Token Allocation

"We locked the 50% of the total supply to Uniswap and threw away the keys! The remaining 50% was burned to Vitalik Buterin." For more detail, check Coin Distribution below.

"Buterin burnt 410.24 trillion in Shiba Inu (SHIB) coins on Sunday, worth as much as $6.74 billion at the time of the transaction. The amount burnt also represents more than 40% of all SHIB in circulation."

Coin Distribution

Vitalik's Stash

"His wallet now holds $13 billion of the coin. The most recent deposit to Buterin totaled 3.1 billion SHIB, an amount worth approximately $90,000. Buterin has not commented on whether he is aware of the deposit and whether he intends to sell or hold the tokens, and after a year of holding, a selloff seems unlikely. Nevertheless, the unusual situation makes the coin’s price unpredictable."

  • From Crypto Briefing (13-5-2021):

"According to The Block, Buterin sold 660 billion SHIB, 140 billion AKITA and 43 billion ELON via those exchanges for a total of about $63 million. However, exchange liquidity soon ran out, leading Buterin to give away the coins instead. He sent more than 50 trillion SHIB ($1 billion) to the India Covid-Relief Fund."

"Vitalik Buterin has burnt 410.24 trillion Shiba Inu tokens, worth more than $6.7 billion. That's 90% of what was left in Buterin's wallet following his 50 trillion SHIB donation last week."


  • Whitepaper (the Woofpaper) can be found here.
  • Code can be viewed [insert here].


  • From their blog (1-2-2021):

"there is only SHIB and LEASH on ETH. There is no binance chain or whatever forks"

Oracle Method

Privacy Method


Their Other Projects


"BONE Dogecoin Killer is our next token! COMING SOON, Shiba Inu Bone, takes the power of Defi to the next level."

It seems this has been merged with ShibaSwap.


"LEASH was originally set to be a rebase token pegged to the price of Dogecoin. Now, it has been unleashed and will not rebase. With a total circulation of ONLY 100k tokens, it has the opposite appeal to Shib (which has a much larger supply). The second token incentivized on the swap offers special rewards for those who provide liquidity."


  • An exchange for 'fun tokens' and an 'Artist Incubator'.


  • Can be found [Insert link here].

"Shiba Token appears to have few technical goals. Rather, it aims to leverage market trends to climb through the ranks."



Pros and Cons

Team, Funding, Partners


  • Full team can be found [here]. "Our volunteer team is small" (3-8-2020)
  • Ryoshi; founder


"We don’t take investment — who would take the investment? I am just some volunteer also. If you want to contribute we can help you direct your resources (maybe some exchange wants fee, you are welcome to pay) or just go Market Buy SHIB to show support."


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