Chubby Shiba: A Brand New DeFi Platform That Teaches How To Cook While Earning A Consistent Income
Chubby Shiba is an innovative DeFi and NFT platform that wants to educate people all over the globe on how to cook for dogs and humans alike.
Giving people the opportunity to acquire new culinary abilities while earning money seems to be an intriguing concept.
In conjunction with its unique Chubby Shiba Cookbook for dogs and people, the Chubby Shiba platform is poised to offer the globe its fascinating collection of culinary techniques.
With a total supply of 1,000,000,000 $SHIBs, the native token of the Chubby Shiba platform, 50% of the tokens are burnt to regulate the supplies and stabilize the price. This step is necessary to fight against the volatility of the cryptocurrency market. Token-burning is a technique in which a project permanently removes part of its tokens from circulation and sends them to a zero address, thereby erasing them from the blockchain’s history. The tokens themselves are either repurchased from the community or simply taken from current pools to alter demand and supply dynamics and influence the price of the tokens in circulation.
The platform redistributes 3% of every transaction as $SHIB rewards to its users. The $SHIB rewards act as a source of passive income to its investors, for which they only need to keep their $SHIB tokens in their wallets.
5% of each transaction is sent for buybacks. In its most basic form, a buyback occurs when a project, or business, uses its financial resources to repurchase a certain number of tokens from holders at the current market price. The repurchased tokens are then kept in the entity’s wallets; they are not destroyed, and they are not instantly put back into circulation as they would otherwise be. Chubby Shiba uses it to boost its tokens in the market.
To safeguard its investors from foul play and opportunistic investors, the Chubby Shiba platform restricts the amount of money that may be moved at a time to a maximum of 1% of the entire circulating amount. Additionally, it uses a 30-second cooldown period between successive buy and sells transactions performed by a user.
Apart from these regular services, the Chubby Shiba platform offers several attractions to keep its users engaged in earning huge profits. They offer Shilling competitions, meme contests, minigame competitions, lottery, and almost everything that a user expects from such a meme-based DeFi platform.
