Shiba Inu owners can earn interest with Euler finance, how to do it?
2 min readTable of Contents
Shiba Inu investors will be able to earn interest on their SHIB tokens. Such an opportunity was provided by the Euler Finance lending protocol on Ethereo, which allows users to borrow or lend almost any cryptocurrency and earn interest.
Revenues from SHIB to Euler Finance
$SHIB was activated on Euler! Users can now borrow or lend tokens and earn interest. Welcome to our community @Shibtoken”
Euler Finance thanked the SHIB community for what turned into a dynamic ecosystem in less than 2 years since the coin’s inception.
SHIB hosts a dedicated community that has grown the token from a meme coin to a vibrant ecosystem with a nearly $16B market cap!
How to do it
For making a profit users must download the application Euler and create a login ID. After completing the verification process, you must click on the “Transactions“And then make a deposit. The complete list of cryptocurrencies appears in a drop-down list.
Deposited cryptocurrency will remain in the wallet until another user clicks the “Borrow” for the specified asset. As the user takes your assets, interest rates begin to rise depending on the amount of assets.
Other debt financing options include shorts, arbitrage trading and flash loans through a proprietary transaction creation tool.
Prospects
Since the advent of dogecoin, meme coins have become the most sought after asset in the whale community. They actively add BabyDoge, Shiba Inu, Floki Inu and other tokens to their portfolio during each decline. It is this factor that keeps coins afloat.
However, the community believes that 2022 will be a good year for SHIB, as the project has many developments planned, including Shibarium, Shibosis, partnerships with Plauside Games and more.
