Shiba Inu: Here’s why LEASH is important to the SHIB ecosystem

Paigambar Mohan Raj
Source: Moralis Academy

The Shiba Inu (SHIB) ecosystem has grown to new heights in just two years. SHIB has an ambitious goal, to play a significant role in the future Web3 revolution. It is developing its metaverse initiative as well as its network, Shibarium.

SHIB has two offspring tokens, BONE, and LEASH. BONE is set to play a significant role in the upcoming Shibarium network. LEASH, on the other hand, grants its holders exclusive rights to claim land in the project’s future metaverse. However, many are uncertain about what LEASH is, and why it is important.

What is Shiba Inu’s LEASH?

LEASH was initially used to track Dogecoin’s (DOGE) price as a rebase token. The token is also named “Doge Killer.” Developers of SHIB, however, chose to convert LEASH into an ERC-20 token. Being an ERC20 token, LEASH is hosted on the Ethereum blockchain. Holders of LEASH tokens can stake their holdings in the liquidity pool in exchange for xLEASH.

Intentionally created to be a rare asset, there are just 107,646 LEASH tokens. More than 29k individuals currently hold LEASH in their wallets. Given the current state of the market and Shiba Inu’s objectives, it is reasonable to predict that LEASH will continue to be a favorite among cryptocurrency investors.

Why is LEASH important?

LEASH serves several essential functions. The ability to engage in the Shiba Inu metaverse before its formal introduction is one of the most crucial use cases. In other words, LEASH allows every holder to acquire some land plots in the upcoming metaverse, regardless of how much SHIB they own. Users can pocket 200 land plots if they lock 5 LEASH in the LEASH Locker at for 90 days.

Shiba Inu wants to grow into a significant Web3 initiative that can help millions of community members. LEASH is a practical instrument for realizing this ambition. The fact that the LEASH cryptocurrency serves as a portal to the SHIB ecosystem’s metaverse, LEASH may now be even more significant for the ecosystem than SHIB itself.

At press time, LEASH was trading at $323.00, down by 1.8% in the last 24 hours. On the other hand, SHIB was trading at $0.00000893, down by 2.6% in the last 24 hours.