OKEx (www.okex.com), a world-leading cryptocurrency spot and derivatives exchange, is pleased to announce the listing of SHIB, the first native crypto asset of the Shiba Inu network. Deposits of SHIB opened over the weekend, and the token can now be traded against USDT on the OKEx spot and perpetual swap markets. Withdrawals opened at 10:00 am UTC on May 10.
SHIB, also known as a “meme coin,” has emerged as a top 30 cryptocurrency by market capitalization, according to CoinMarketCap. Dubbed the “Dogecoin killer,” SHIB is an ERC-20 token that started as an experiment to create a spontaneous decentralized community. With the goal to ensure a fair distribution of tokens, the founders put away 50% of the total SHIB supply in Uniswap, while the rest were burned in honor of Vitalik Buterin, one of the co-founders of Ethereum. SHIB is the first cryptocurrency token to be listed and incentivized on ShibaSwap — the Shiba Inu project’s own decentralized exchange.
“We are pleased to welcome Shiba Inu to the OKEx platform. I appreciate their experimental spirit, which is exactly what the blockchain and crypto space needs. As an exchange, we are delighted to be able to offer a diverse portfolio of cryptocurrencies, including memetic tokens, to allow a comprehensive investment experience for our valued customers. The Shiba Inu community has been gaining strong momentum from the weekend deposits, and we look forward to witnessing its robust development. We are happy to be the first major exchange to offer SHIB to open the crypto gateway to these enthusiasts,” said OKEx CEO Jay Hao.