ETH

Shiba Inu Token ‘Proves Its Worth,’ Graduates From Binance Innovation Zone

by BSCN

April 17, 2023

Binance, the world’s largest crypto exchange, gives a major endorsement to the quality of the Shiba Inu project and SHIB token.

Trust in $SHIB

Binance announced that the Shiba Inu token ($SHIB) is among the cryptocurrencies that are being moved out of the Centralized Exchange’s “Innovation Zone” after demonstrating factors such as quality, team commitment and stability.

Other tokens graduating from the Innovation Zone include Frax Share ($FXS), Trust Wallet Token ($TWT) and 1inch ($1INCH).

According to a Binance announcement, “The Innovation Zone was introduced to give Binance users a safe place to trade new and innovative projects. Over time, some of these projects have proven their worth and meet the high level of standard that we expect. When we identify such projects during our periodic project review, we will move them out of the Innovation Zone.”

The announcement is a major endorsement of Shiba's quality from the world’s largest crypto exchange.

Factors that Binance considers when moving tokens out of the Innovation Zone include:

Team commitment
Level and quality of development activity
Trading volume and liquidity
Network/smart contract stability and safety
Public communication
Due diligence responsiveness
Ethical conduct
Contribution to a healthy and sustainable crypto ecosystem.

Currently the 14th largest crypto token with a $6.8 billion market capitalization, Shiba is a leader among memecoin projects that are transforming themselves into multidimensional MemeFi projects. Shiba is building on a variety of fronts, including its ShibaSwap Decentralized Exchange (DEX), Shib the Metaverse virtual world and its dedicated Layer-2 network Shibarium.

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What is Shiba Token:

Shiba Token (SHIB) is home to the Shiba Inu Ecosystem, an interconnected family of digital assets and solutions built on the Ethereum blockchain. Its tokens include $SHIB, $LEASH, and $BONE, plus native SHIBOSHIs NFTs. SHIB solutions include SHIB: The Metaverse and the ShibaSwap DEX. SHIB, a world-leading decentralized finance (DeFi) cryptocurrency, has gained popularity among millions of investors worldwide. It has 3.6 million Twitter followers and is frequently ranked as the third most searched project by Google. The Shibarium Layer 2 blockchain enables SHIB to provide increased scalability, security and innovation.

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