Introduction to LEASH: The Doge Killer
LEASH, also known as the "Doge Killer," is a token within the popular Shiba Inu (SHIB) ecosystem. Due to its immense popularity, Shiba Inu is widely regarded as a competitor to Dogecoin (DOGE), aiming to be an Ethereum (ETH)-based alternative to Dogecoin's Scrypt mining algorithm. LEASH is not the only token in the SHIB ecosystem; Bone ShibaSwap (BONE) is also part of this ecosystem and can be traded on its ShibaSwap decentralized exchange (DEX).
In 2021, LEASH, along with BONE and SHIB, became part of the "Dogecoin Avalanche" that swept the cryptocurrency world. There are other dog-themed tokens in the market, such as Baby Dogecoin (BabyDoge), Drunkdoge (DRUNK), JINDO INU (JIND), Alaska Inu (LAS), and Alaskan Malamute Token (LASM), but LEASH stands out due to its unique position and potential, becoming a focal point for cryptocurrency enthusiasts.
The Anonymous Founder of LEASH: The Mystery of Ryoshi
As part of the Shiba Inu (SHIB) ecosystem, LEASH's founder is also an anonymous individual or team using the pseudonym "Ryoshi." Ryoshi created Shiba Inu in August 2020 and subsequently launched LEASH. To date, the identity of this founder(s) remains a mystery. In the so-called "Woofpaper" for Shiba Inu, Ryoshi outlined three reasons for creating Shiba Inu: starting from scratch, the outstanding talents behind Shib who had never collaborated before, and their love for the Shiba Inu dog.
While Ryoshi's identity remains unknown, it's reasonable to speculate that the astonishing success of Dogecoin (DOGE) also inspired the creation of LEASH, recognizing the potential benefits of creating another popular dog-themed cryptocurrency. This mystery, combined with a deep understanding of the dogecoin market, has created the legend of LEASH's unique existence.
Tokenomics of LEASH: The Power of Scarcity
Initially intended as a token with a rebase supply, the team later decided to cap its total supply at just 107,646 tokens. This extremely low supply is rare among dog-themed coins and is a significant reason for its high value. At the time of writing, LEASH's trading price is around $500, compared to its astonishing peak price of over $7,000 in May 2021. Unlike typical dog-themed cryptocurrencies characterized by a high supply, LEASH adopted a new strategy, positioning itself uniquely in the market through extreme scarcity.
Although the team promised "generous rewards" for LEASH holders, the exact nature of these rewards has not been specified. It might be decided by the community since Bone ShibaSwap (BONE) is the governance token of the Shiba Inu ecosystem, intended for voting on proposals in the upcoming Doggy DAO.
In stark contrast to Shiba Inu (SHIB)'s total supply of one quadrillion, LEASH has a total supply of only 107,646. Shiba Inu once burned 50% of its token supply, sending it to Ethereum co-founder Vitalik Buterin. In response, Buterin donated $1 billion worth of 500 trillion SHIB tokens to India's Covid Crypto Relief Fund and burned 40% of the total supply. This initially caused SHIB's price to plummet, but the two communities eventually reached an agreement, leading to a steady price increase for SHIB and LEASH in September and October 2021.
Exploring the Security of LEASH: A Trust Framework Based on Ethereum
As an ERC-20 token, LEASH is part of the Ethereum (ETH) blockchain, the go-to standard for most new tokens. Ethereum, a backbone of the crypto space, is the preferred platform for many decentralized application (DApp) creators. Its blockchain transitioned from a Proof of Work (PoW) consensus mechanism to a Proof of Stake (PoS) system on September 15, 2022, an event known as "The Merge." A decentralized network of nodes is responsible for verifying all transactions, ensuring the security of the Ethereum blockchain, making it one of the most secure blockchains in the industry.
Moreover, all tokens within the Shiba Inu (SHIB) ecosystem have undergone auditing by Certik. This auditing process provides additional security assurance for LEASH and other tokens within the ecosystem, giving investors increased confidence in the platform and its tokens' safety. This Ethereum-based security framework, combined with professional audits, forms a solid foundation for the security of the LEASH token.
Official LEASH Links
Website: https://www.shibatoken.com/
Twitter: https://twitter.com/shibtoken
Discord: https://discord.gg/x4q3X42xTh
Telegram: https://t.me/shibainuthedogecoinkiller
Treasures in the Shibatoken Ecosystem: SHIB and BONE
The Shibatoken ecosystem is not limited to LEASH but also includes two unique tokens, SHIB and BONE, creating a diverse cryptocurrency world. SHIB, the flagship token of the ecosystem, has attracted a large number of investors with its high supply and low price point, earning it the moniker "Dogecoin Killer." Meanwhile, SHIB is the most widely circulated token within the ecosystem, promoting broad participation and application development through a community-driven approach.
BONE is positioned as the governance token of the Shiba Inu ecosystem, with a capped supply of 225,000,000 tokens. It plays a crucial role in the ShibaSwap decentralized exchange and represents voting rights in the upcoming Shiba Inu ecosystem governance structure, the Doggy DAO. The introduction of BONE offers community members the opportunity to participate in the ecosystem's governance, further enhancing the decentralized nature and cohesion of the Shibatoken ecosystem.
Steps to Buy LEASH on LBank
Purchasing LEASH tokens on the cryptocurrency exchange platform LBank is straightforward. Here's a step-by-step guide:
1. Log into your account: Ensure you're registered and logged into your LBank account, then click the "Trade" option in the top menu bar to start the trading process.
2. Search for LEASH: Use the search function within the trading platform to find "LEASH," locate the trading pair, such as LEASH/USDT, and click to enter its dedicated page.
3. Place an order: In the LEASH/USDT trading page's spot trading area, enter the amount of LEASH you wish to buy. If you want to complete the purchase immediately at the current market price, select a market order and then click the "Buy" button.
4. Confirm the order: A confirmation window will pop up. After verifying the order details are correct, confirm to place your order. Once the transaction is successful, the purchased LEASH will automatically be deposited into your LBank spot wallet.