Shibaswap is a new, decentralized finance platform that is based on everyone’s favorite meme dog breed, the Shiba Inu! There are six basic functions to the Shibaswap platform: DIG, NFTS, BURY, SWAP, BONEFOLIO, and WOOF. Today, we’ll be looking at the WOOF function, so here’s how to farm various tokens on Shibaswap: WOOF!
How to Use Shibaswap: WOOF
To get started on Shibaswap, you’ll need to create or already own a compatible Ethereum crypto wallet. You can choose one of these three wallets:
After you’ve set up your wallet with your chosen site, please make sure to back up your secret/recovery wallet phrase. Try not to use a digital recording of it, and instead write it down on a physical piece of paper. If malicious attackers get a hold of your phrase, your wallet will be compromised. Once you’ve funded your wallet to cover transaction fees, you’re ready to go!
Shibaswap’s WOOF function allows users to claim the interest accrued from their buried tokens using the BURY function or DIG returns. To perform a WOOF, click on the Farm Tokens! button under the WOOF box on the Shibaswap website. Remember that WOOF returns are distributed weekly, but you only get 33% immediately, while the remaining 67% is time-locked for six months. On the WOOF page, you’ll see all the various tokens that you can exchange your WOOF returns into.
One important thing to note about DIG returns is that you must also deposit your SSLP (ShibaSwap Liquidity Provider) tokens upon claiming returns. Your returns are accrued in real-time when you deposit your SSLP.
That’s how you use the WOOF function on Shibaswap. If you have any other questions, let us know in the comments below, and don’t forget to check out the help section on the Shibaswap website for some valuable info.