Shiba Inu Activated on Lending Protocol Euler, Allowing SHIB Holders to Earn Interest

In 2021, Shiba Inu rose up through the ranks after initially making a name for itself as one of the most promising meme coins. However, by integrating more utility, the project has shown on multiple occasions that Shiba is more than a meme.

2022: A Big Year for Shiba Inu

Its latest use case now allows holders of Shiba Inu (SHIB) to borrow or lend tokens and earn interest. This is made possible following an announcement from Euler Finance of Shiba’s integration into its platform.

Euler Finance is a noncustodial protocol on Ethereum that allows users to lend and borrow almost any crypto asset. Euler announced;

Shiba’s latest activation continues the trend of its top-tier listing on multiple exchanges and companies in various countries, with AMC Entertainment on track to begin accepting Shiba Inu payments in Q1 of 2022.

In addition, the Shiba Inu development team has announced that Shiba will be making an entrance into the trillion-dollar metaverse and the blockchain gaming industry in 2022. Shiba Inu recently revealed that it is “working on amazing things.”

On the Flipside

  • Although there have been significant developments, Shiba Inu (SHIB) has been unable to recover from its ATH, losing more than 70% since October.

Why You Should Care

The primary goal of digital assets is to gain as much utility as possible. The increasing utility of Shiba Inu could possibly lead to an increase in the adoption of the cryptocurrency.

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    This article is for information purposes only and should not be considered trading or investment advice. Nothing herein shall be construed to be financial legal or tax advice. Trading Forex, cryptocurrencies, and CFDs poses a considerable risk of loss

    Author

    Milko is a DailyCoin reporter, mainly focused on Ethereum (ETH), Cardano (ADA), and their founders (Vitalik Buterin and Charles Hoskinson). Milko is an avid follower of crypto and blockchain technology and has written thousands of articles on the subjects. He finds joy in transforming complex issues into written content that anyone can understand. Milko has used and analyzed numerous exchanges, such as Coinbase, FTX, and Binance. He also closely follows all of the latest news around the largest decentralized exchanges (DEXs).