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Shiba Inu investors will now be able to receive interest on their SHIB tokens. Such an opportunity was provided by the Euler Finance lending protocol on Ethereum, which allowed users to take loans or borrow almost any cryptocurrency and receive interest on it.
SHIB has been activated on Euler! Users can now borrow or lend tokens and receive interest. Welcome to our @Shibtoken community! – reported the Euler Finance team.
$SHIB was activated on Euler! Users can now borrow or lend tokens and earn interest.
Welcome to our community @Shibtoken! #ShibArmy pic.twitter.com/HQE9y49tfB— Euler (@eulerfinance) January 10, 2022
Euler Finance thanked the SHIB community for transforming into a vibrant ecosystem in less than 2 years since the coin’s inception.
SHIB has a great community that has transformed the token from a meme coin into a vibrant ecosystem with a market cap of nearly $ 16 billion!
SHIB hosts a dedicated community that has grown the token from a meme coin to a vibrant ecosystem with a nearly $16B market cap!
— Euler (@eulerfinance) January 10, 2022
To make a profit, users need to download the Euler app and create a login ID. After completing the verification process, you need to click the “Transaction” button and then make deposits. The complete list of cryptocurrencies will be displayed in the dropdown list.
The deposited cryptocurrencies will remain on the wallet until another user clicks the “Borrow” button for the specified asset. When the user takes your assets, interest will begin to accrue depending on the amount of assets.
Other debt financing options include position hedging, shorts, arbitrage trading, and flash loans through a proprietary transaction builder.
On the evening of January 11, Shiba Inu dropped to 14th position in the CoinGecko rankings, showing a slight increase along with the general cryptocurrency market.
Nevertheless, the community believes that 2022 will be a good year for SHIB, as the project has many developments planned, including Shibarium, Shibosis, a partnership with Playside Games, and more.
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