Shiba Inu Activated on Lending Protocol Euler, Allowing SHIB Holders to Earn Interest
DailyCoin
Published Jan 11, 2022 08:38AM ET
Updated Jan 11, 2022 09:01AM ET
Shiba Inu Activated on Lending Protocol Euler, Allowing SHIB Holders to Earn Interest
In 2021, Shiba Inu rose up through the ranks after initially making a name for itself as one of the most promising meme coins. However, by integrating more utility, the project has shown on multiple occasions that Shiba is more than a meme.
2022: A Big Year for Shiba Inu
Its latest use case now allows holders of Shiba Inu (SHIB) to borrow or lend tokens and earn interest. This is made possible following an announcement from Euler Finance of Shiba’s integration into its platform.
Euler Finance is a noncustodial protocol on Ethereum that allows users to lend and borrow almost any crypto asset. Euler announced;
$SHIB was activated on Euler! Users can now borrow or lend tokens and earn interest. Welcome to our community @Shibtoken! #ShibArmy pic.twitter.com/HQE9y49tfB— Euler (@eulerfinance) January 10, 2022
Shiba’s latest activation continues the trend of top-tier listing on multiple exchanges and companies in various countries, with AMC Entertainment (NYSE:AMC) on track to begin accepting Shiba Inu payments in Q1 of 2022.
In addition, the Shiba Inu development team has announced that Shiba will be making an entrance into the trillion-dollar metaverse and the blockchain gaming industry in 2022. Shiba Inu recently revealed that it is “working on amazing things.”
On The Flipside
- Although there have been significant developments, Shiba Inu (SHIB) has been unable to recover from its ATH, losing more than 70% since October.
Why You Should Care
The primary goal of digital assets is to gain as much utility as possible. The increasing utility of Shiba Inu could possibly lead to an increase in the adoption of the cryptocurrency.
EMAIL NEWSLETTER
Join to get the flipside of crypto
Upgrade your inbox and get our DailyCoin editors’ picks 1x a week delivered straight to your inbox.
[contact-form-7] You can always unsubscribe with just 1 click.
Continue reading on DailyCoin
Get The News You Want
Written By: DailyCoin
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.