What Is Shitzu (SHITZU)?
Once you approve the transaction, you will be able to enter the amount of sFHM you would like to wrap. Simply press “Wrap,” approve the transaction, and you will will shortly have your (network respective) Shitzu. The index (listed on the wrapping page for each network), goes up as supply increases but originally (on each network), Index = 1. Because supply on each network changes at different rates, the index on each network is different.
Input what chain and tokens you want to swap in the “You Pay” box at the top and what chain and tokens you want to receive in “You Receive” box just below it. If you had 1 ETH on Ethereum Network and wanted to swap into DAI on the Fantom network, I would see the image below.
Shitzu Storage Key Points
|Circulating Supply||576,167,000.00 SHITZU|
|Source Code||Click Here To View Source Code|
|Explorers||Click Here To View Explorers|
|Twitter Page||Click Here To Visit Twitter Group|
|Whitepaper||Click Here To View|
|Official Project Website||Click Here To Visit Project Website|
DEX = Decentralized Exchange on Multiple Chains
One of the biggest issues related to DeFi is figuring out the best way to get from one chain and one token to another, so Shitzu have decided to integrate a swapping feature that allows users to chose a wide variety of tokens on multiple chains. You can swap to and from thousands of different tokens on the same chain or across different ones thanks to your partnership with Rango. You will be able to test out different trades and routes without connecting your wallet but you will not be able to swap without connecting and approving transactions.
Why Do I Still Need Gas on Other Chains??
The swaps are being conducted on the best platforms on multiple chains, so Shitzu don’t control the gas fees. The swap will let you know what tokens you need in order to complete it and can change as gas prices on multiple networks are HIGHLY VARIABLE. You can use this as a swap on individual networks OR across chains. But they wanted to make this as broadly useful as possible for users coming into your ecosystem and exploring DeFi from any crypto source.
They will be integrating more networks and coins as they move forward. Stay tuned for more updates. You can also bond directly into a few of the 4,4 bonds they have on the same page. You simply need to have approved the transaction and the bond will update as it does for other.
Read the Info right
The best way to learn about bonding and staking is to go out there and see how it works first-hand. Once you start accruing rewards and claiming the discounted tokens you’ve bonded you’ll get a better idea of how it all works. For those new to the scene, here’s a few quick definitions to help you get your DeFi 2.0 journey started off right. It can take a bit of time to get used to the world of DeFi 2.0, so here’s a quick cheat sheet of sorts to help you read the info correctly.
APY tells you the rate of return per year based on the reward yield. It considers the effect of compounding since sFHM rebases exponentially. TVL measures the dollar amount of all the staked FHM in Shitzu. This is an important metric to look at. The bigger the value, the more stable the protocol.
Current Index allows you to track your gain from staking. The index started from 1 at epoch 0, and increases every epoch. If you staked at genesis (epoch 0) and never unstaked any FHM, your balance today would be X times greater, where X is the current index. You can use the index to track your position by marking down the index number when you stake and unstake. You divide the index number when you unstack by the index number when you stake to get the ratio by which your sFHM balance has increased.
Your Balance tells you how many Shitzu FHM are in your wallet. This is the maximum amount that you can stake. Your Staked Balance tells you how many staked FHM (sFHM) are in your wallet. This is the maximum amount that you can unstake.