The blockchain and cryptocurrency ecosystem is often infused by new trends every now and then. While the year 2021 has propounded the trends from the previous years including in the Decentralized Finance (DeFi) and Non-Fungible Token (NFT) niches, we have seen a remarkable pace in the emergence of memecoins, with Green Shiba Inu being one of the youngest protocols around today.
While the beginning of every new project is often filled with skepticism, especially as is common with memecoins that many considers a joke, the Green Shiba Inu protocol has recorded a number of impressive feats in just about a month of coming alive. Amongst the notable milestones since inception includes the shift to a deflationary token, as well as the implementation of the redenomination plan.
Before we dig deeper into the protocol, let us explore the fundamentals of the Green Shiba Inu Protocol.
Fundamentals of the Green Shiba Inue Protocol and Ecosystem
The Green Shiba Inu is built atop the Binance Smart Chain (BSC) network, consumes practically no energy (environmental friendliness), and is deflationary in nature. The network is powered by the GINUX tokens, the redefined form of the GINU tokens. Through the scalability tendencies of the BSC, transactions conducted on Green Shiba Inu are relatively faster, accessible, and costs less compared to existing memecoins.
The fundamental pursuit is to aim at setting up a Carbon Neutral Economy, with a sustainable crypto development. Doing this helps in reducing the emissions and the subsequent carbon footprint that stems from mining. With its $GINUX tokens, Green Shiba Inu has commitments to promote environmentally friendly initiatives including but not limited to Greenpeace, and to the most notorious environmental activists: Greenpeace, Elon Musk, Greta Thunberg, President Joe Biden, Angela Merkel, Leonardo DiCaprio, Al Gore and Jane Goodall amongst others.
Branded a completely decentralized and community-driven protocol, the platform has guarded against any potential form of rugpulling by locking the entire liquidity on both PancakeSwap and BakerySwap, and the ownership of the contract has been sent to the burn address. A major fundamental that made Green Shiba Inu a delight of retail adopters include the fair launch process in which 90% of the supply was placed as liquidity. The team has no vested tokens, it is fully community-driven.
Just like other Binance-backed tokens, $GINUX can be swapped on PancakeSwap and BakerySwap, with other unique functionalities being planned in the roadmap.
Milestone Covered and Anticipations for 2021
Beyond being listed on PancakeSwap, BakerySwap, CoinMarketCap, and CoinGecko, the $GINUX liquidity has been added to PancakeSwap decentralized exchange in just a little more than a month since its launch. The other milestones the project has recorded thus far include the locking of tokens for major environmental activists, farming, and staking campaigns on BakerySwap with more than 100% APY returns and over 275M Ginu staked.
While the work that has been done thus far looks much, the team has outlined an ambitious roadmap for 2021, with the ultimate target of driving home its agenda. The new roadmap is divided into two, phases 1 and 2 respectively. While Phase 1 will span through the first quarter of 2021, phase 2 is billed to span from the third to the fourth quarter of this year.
In phase 1, the token redenomination which has already been achieved is at the forefront of the pursuit. Through this redenomination, the price of the GINUX token will be decreased at a rate of 10,000:1. A similar redenomination has been done for other notable DeFi projects such as Aave. These moves help in revaluing the price of the tokens in the long term.
Also, the Green Shiba Inu protocol will help to lower the barriers to entry and access to products for $GINUX holders, a move that will help boost the growth of the entire ecosystem. The phase will top out by offering a dual yield capability and super staking reward to the protocol, all helping to increase the value to its token holders.
Phase 2 involves the listing on a centralized exchange. While the talks with the exchanges had been on and agreements reached with some exchanges, the plans were delayed due to the redenomination implementation. Stage 2 will also see the introduction of Green Shiba Inu-powered NFTs, the creation of an ERC-20 — BEP-20 bridge to boost the interoperability and broader utility of the system, as well as the dishing out of airdrops to help maintain a committed and all-inclusive community.
Green Shiba Inu Traction
As of the present, the Green Shiba Inu project can be said to be gaining traction, judging by its growth across all social media platforms. While the project has over 20,000 follows on Twitter, it maintains an active community on Telegram with over 11,000 followers and a functional blog on Medium.