Shido (SHIDO) is a decentralized Layer 1 blockchain and DeFi ecosystem built on the Cosmos network. It combines the interoperability of Cosmos, the development power of EVM and WASM, and a Proof-of-Stake consensus mechanism. The ecosystem includes a decentralized exchange (DEX), cross-chain swap, liquidity protocol, and perpetual DEX. Shido aims to provide infinite scalability, high transaction speeds, and low fees, making it suitable for millions of users. Additionally, it has a strong focus on environmental sustainability, ensuring a zero-carbon footprint through its carbon-neutral program.
Shido (SHIDO) is the native utility and governance token for the Shido decentralized layer 1 blockchain platform. It serves several purposes within the ecosystem:
- Staking: SHIDO tokens can be staked to earn a return, currently offering an annual percentage yield (APY) of 8%.
- Gas Fees: SHIDO is used to pay for transaction fees within the blockchain, similar to Ether on Ethereum.
- Governance: Holders of SHIDO tokens have voting power in the SHIDO DeFi DAO, allowing them to influence proposals on DAO management and blockchain protocol updates.
- Crypto Card: SHIDO tokens can be used to access liquidity and spend it at over 45 million merchants worldwide through the Shido Card, which offers zero fees on spending.
- Decentralized Exchange (DEX): SHIDO is part of the Shido DEX, a decentralized DeFi aggregator, cross-chain swap, liquidity protocol, and perpetual DEX.
These uses highlight the versatility and importance of the SHIDO token within the Shido ecosystem.
To store Shido (SHIDO) tokens, you have several options:
Trust Wallet: You can add Shido tokens to Trust Wallet by searching for them directly through the app's search function or by manually adding them using the token's contract address.
Binance Wallet: You can also store your Shido tokens on Binance Wallet, which is a popular exchange wallet.
Cold Wallet: For long-term storage, consider using a cold wallet, which is more secure than a hot wallet.
Shido App: The Shido App is a secure non-custodial wallet that allows you to store, receive, and send cryptocurrency tokens. It also features an inbuilt Web3 browser.
Other Crypto Wallets: You can store Shido tokens on other crypto wallets that support the token, such as Metamask, which is a popular Web3 wallet.
Remember to always follow best practices for securing your wallet and protecting your assets.
To buy Shido (SHIDO) tokens, you can follow these steps:
Buying Shido from Centralized Exchanges (CEX)Register on a CEX:
- Go to a centralized exchange like MEXC, Binance, or CoinCarp.
- Create an account by providing the required information and verifying your identity.
- Enable two-step verification for added security.
Fund Your Account:
- Deposit fiat currency using methods like credit cards, bank transfers, or third-party services like Simplex, Banxa, or Mercuryo.
- Buy a stablecoin like USDT or a cryptocurrency like ETH or BNB using your deposited fiat.
Transfer to a Shido-Supporting CEX:
- If the CEX you used for depositing fiat does not support Shido trading, transfer your USDT, ETH, or BNB to a CEX that does support Shido trading.
- Buy Shido:
- Use your transferred USDT, ETH, or BNB to buy Shido in the spot market.
Choose a DEX:
- Select a decentralized exchange that supports Shido, such as Shido DEX or 1inch.
Download and Set Up a Wallet:
- Download a Web3 wallet like Metamask or an app wallet like Trust Wallet that is supported by the chosen DEX.
- Create and set up a new wallet, taking note of your seed phrase and wallet address.
Transfer ETH or BNB to Your Wallet:
- Buy ETH or BNB using fiat on a CEX and transfer it to your wallet address.
Connect to the DEX:
- Connect your wallet to the DEX by clicking "Connect Wallet" and following the instructions.
Swap for Shido:
- Select the token you want to trade (ETH or BNB) and Shido as the token you want to acquire.
- Enter the amount you want to trade and confirm the swap.
Monitor Your Transaction:
- Check the transaction details on the block explorer to ensure the swap is successful.
Remember to be cautious of scams and ensure you are using the official smart contract address for Shido.