I am writing to share my first experience with the ShibaSwap. Yes I know there are videos on YouTube that explain ShibaSwap and so forth but I want to break it down in a way that is easy to understand, without going into too much detail. If you would like to know the nitty gritty details read the woofpaper 2.0 here.
Tried on my iPhone
It simply didn’t work for me. Tried to connect my Trust Wallet. Then I remembered it only works with Metamask or Coinbase wallet.
On my desktop connecting Metamask it connected and then I was ready to dive into the ShibaSwap.
It is a Liquidity Pool. You create a pair and provide liquidity and earn SHIB-ETH SSLP tokens.
I have created an image below that takes you through the process of setting up an LP pair. Before you can “Supply” you need to first “Approve” and this will all cost you some ETH. I set my ETH to the slowest to pay the lower fee, takes a bit longer but not a big deal to wait an extra minute or so to save a few ETH.
When you bury SHIB you are staking SHIB to earn BONE, ETH Trans. Fees, and swap fees converted to SHIB.
Same as above before you can “Stake” you need to first “Approve” then you can stake the desired amount of tokens.
This image below takes you through the process of how to Bury/Stake.
This was not to be a comprehensive how to guide on how to use the ShibaSwap. I simply wanted to share a visual guide of the process without you having to sit through a video on Youtube.
Pictures are easy to understand. Thanks and Enjoy!