SHIB314

ERC314

The first ERC314 token on Shibarium.

Liquidity pool:

SHIB314/BONE⭐

SHIB314/DAMN⭐⭐⭐

SHIB314/PIKA⭐⭐⭐⭐⭐⭐

SHIB-314 ca:

0x7f816954BAe96fDCc79A06583446232111613C7A

Transaction method:

①Transfer to the contract address

0x7f816954BAe96fDCc79A06583446232111613C7A

Transfer to BONE=Buy

②Transfer to the contract address

0x7f816954BAe96fDCc79A06583446232111613C7A

Transfer to SHIB-314=Sell

People are not used to using contract addresses to buy and sell, and this buying method has closed.

Read on to understand our new ERC-314 standard, how it works and how the utility helps developers and users.

A thread 🧵

𝐐𝐮𝐢𝐜𝐤 𝐬𝐮𝐦𝐦𝐚𝐫𝐲:

👉 SHIB-314 is the token to use the new ERC-314 standard

👉 ERC-314 reduces transaction complexity, making them more efficient and cost-effective

👉ERC-314 removes the need for wrapped BONE (WBONE), decentralized exchanges (DEXs), and the process of approving transactions

👉To trade, you simply send BONE to buy or the token to sell to the contract.

👉Our ERC-314 standard can save you up to four times more gas fee compared to a traditional ERC-20 swap

𝟏/ 𝐖𝐡𝐚𝐭'𝐬 SHIB-314?

SHIB-314 is a project on Shibarium and it's the first of it's kind to utilize developed ERC-314 standard. This new token standard is a part of our experimental approach to improve and innovate beyond current models, like 404 and other token standards.

𝟐/ 𝐖𝐡𝐚𝐭'𝐬 𝐚𝐧 𝐄𝐑𝐂-𝟑𝟏𝟒?

ERC-314 is a token standard that makes transactions simpler and more cost effective. It removes the need for wrapping BONE (WBONE), decentralised exchanges (DEXs) and the process of approving transactions. As a result, it significantly lowers transaction fees.

𝟑/ 𝐇𝐨𝐰 𝐝𝐨𝐞𝐬 𝐢𝐭 𝐰𝐨𝐫𝐤?

As a developer utilizing ERC-314 you don't need to approve tokens or create liquidity pools on DEXs like Woofswap and marswap. Instead, you start by depositing your initial liquidity in BONE and any token you want into the pool directly, through a smart contract, which then locks it inside of it. When launching an ERC-314 token, you can set at which block the liquidity pool will be unlocked.

To trade, you simply send BONE or the token of choice to the contract, This process treats your transaction like a regular swap but without worrying about price slippage, as there's no need for an external approval step, and there is no MEV.

𝟒/ 𝐖𝐡𝐚𝐭'𝐬 𝐭𝐡𝐞 𝐫𝐞𝐚𝐥 𝐮𝐭𝐢𝐥𝐢𝐭𝐲? 𝐇𝐨𝐰 𝐦𝐮𝐜𝐡 𝐰𝐢𝐥𝐥 𝐲𝐨𝐮 𝐬𝐚𝐯𝐞?

Our ERC-314 standard can save you up to four times more in Shibarium gas fees compared to a traditional ERC-20 swap. Your first purchase of an ERC-314 token will be roughly half the cost of a standard swap, and subsequent transactions will be around four times cheaper. Same goes for selling, without the first transaction costing slightly more.

In simpler terms, after the initial purchase, buying or selling ERC-314 tokens will cost just around 2x the price of a regular Shibarium token transfer, without overpriced smart contract fees.

𝟓/ 𝐇𝐨𝐰 𝐭𝐨 𝐭𝐫𝐚𝐝𝐞 𝐚𝐧 𝐄𝐑𝐂-𝟑𝟏𝟒

Want to buy ERC-314 tokens? It's straightforward:

1. Send your BONE to our contract address.

2. The contract automatically calculates and sends back the equivalent amount in ERC-314 tokens to your wallet.

Selling is just as easy, follow the same process but in reverse. The contract will handle the conversion from ERC-314 tokens back to BONE.