The newborn cryptocurrency Chubby Shiba has just started trading and as they do, they’ll teach you how to cook. That’s right. They plan to teach people the world over how to make delightful meals for themselves and their dogs, an interesting marketing concept indeed.
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As you learn to cook, your money is passively earning an income when you invest in Chubby Shiba. So, who is this new kid on the block?
What is Chubby Shiba
Chubby Shiba is a Defi platform offering non-fungible tokens NFT. NFT’s represent ownership of real items such as digital artworks music and the like. Traders can buy and sell these assets like any other.
NFT’s have been growing in popularity with sales volumes increasing to $2.5 billion in the first six months of the year. They are particularly popular in the gaming industry where gamers receive rewards for winning.
Chubby Shiba is a Dogecoin, the cryptocurrency that started as a joke in 2013 has since become very popular, gaining billions of dollars in market value in 2021. It has one of the most active crypto communities on the internet. It gained acceptance as a tipping facility on platforms such as Reddit.
Dogecoin uses blockchain technology just like Bitcoin but unlike Bitcoin, there is no cap on the number of coins in circulation. Dogecoins are also easier than Bitcoin to mine. This makes them inflationary and most have a very low value.
Chubby Shiba Tokenomics
The Chubby Shiba native token is a $HIB. The platform has a total supply of 1 billion $SHIBs. They will burn half the tokens to increase token scarcity and keep the price buoyant.
Since developers can’t control the flow of tokens once they have been mined, crypto developers remove or burn, excess coins from circulation. This helps to prevent inflation.
Burning tokens involves locking them into digital vaults so that they are not available for transactions. The aim of burning is to keep the token value high by decreasing the volume of tokens in circulation.
Chubb Shiba investors will receive 3% of the transactional value. This will serve as passive income. The plan is to use 5% of the value of transactions to buy back tokens at market value. Chubby Shiba will keep these tokens until they need to increase the number of tokens in circulation.
According to the Chubby Shiba website, the company will use 2% of the transaction value for marketing and Chubby Rescue charity donations. The Chubby Shiba developers met on Telegram. They all share a love of dogs and the idea is to pay a percentage of their revenue to animal shelters.
Chubby Shiba plans to list on CoinGecko and CoinMarketCap. They are not yet on these platforms so the token value currently reflects as zero on most platforms.
Any investment platform must ensure that the money they hold is safe and secure. Chubby Shiba has taken precautions to secure investors from dubious moves by speculators. No more than 1% of the tokens in circulation may be moved at any time. The wallet max is also 1%. There is a 30 second cool-down period between individual buy and sell transactions.
Games and incentives
Chubby Shiba is a fun platform too. It runs shilling competitions with the hardest Shiller receiving a reward. In addition to this, the top five memes created by the Chubby Shiba community can expect rewards. A lottery will pay out 1BNB every day at noon UTC from launch. To qualify investors must have kept their tokens in their wallets rather than selling them.
Users can play daily games on Telegram, with winners receiving tokens as a reward. Chubby Shiba expects to build an extensive Telegram community and so engage with their fans.
So, will you tap into the Doggy Shiba Cookbook for dogs and people? The platform has passed a rigorous audit and hopes to help you to achieve a chubbier wallet.