ShibaLink—a Decentralized Cross-Chain Accelerator Program—Launches its SLINK ERC-20 Token, To Release Whitepaper in Q3 2021
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ShibaLink—a Decentralized Cross-Chain Accelerator Program—Launches its SLINK ERC-20 Token, To Release Whitepaper in Q3 2021

John Williams
John Williams

ShibaLink, a community-driven accelerator and swapping platform, has launched its ERC-20 token, SLINK, a press release on July 20 reveals.

The platform, which offers support to early developers seeking to leverage the blockchain and launch, transparently connects innovators on Ethereum, Polygon, Binance Smart Chain (BSC), and Cardano with a community of donors.

ShibaLink's smart contracts have been audited by Solidity Finance and proven to be safe. The auditing team said SLINK tokens comply with the ERC-20 standard, integrating SafeMath libraries.

Presently, ShibaLink is hosting a Developer Program aimed at providing essential services. For instance, developers planning to raise and launch on any of the supported blockchains would learn different techniques on token engineering, learn the importance of code security and audits, marketing tips like branding and social media, and refinement through graphics and web3. However, once ShibaLink fully launches, some features such as auto-liquidity lock and renounce, for example, will become optional.

Commenting, the founder Purple said:

"We see our platform as one that was made for early developers and adapters, considering we are providing successful project applicants with access to the SLINK Accelerator Program."

"This program will provide members with development resources to further leverage. Our contracts will be available cross-network within the first week of launch, and our team will aid developers by establishing simplistic access to our network."

The SLINK token is instrumental in connecting the decentralized web of investors and markets to potential blockchain-based projects. The team has said the newly launched ERC-20 SLINK token would be Launchpad for other tokens.

There will be a total supply of one trillion SLINK tokens. On Uniswap listing, the team initiated a 15.5 percent burn of the total supply. In addition, there will be continuous buyback programs offering support for SLINK prices. SLINK tokens will provide holders with automatic gains and a four percent redistribution from platform-generated fees. Once a threshold is reached from the accumulated fee, the team buys ETH from Uniswap.

Six percent of this fee will fund the buyback program, and a portion channeled to the marketing wallet. The wallet serves as a protective shield preventing whales from dumping SLINK allowing the team to purchase the token if it happens. The decision by the team to shield against market devaluation, especially on DEX listing, is a welcomed reprieve for SLINK investors.

DFOhub notes of "vampiric arbitrage bots" in some leading AMM-swapping protocols like Uniswap that trigger price dumps moments after trustless listing. These trading bots, allowed to operate by Uniswap, often deplete the price and valuation of new tokens routing trades through privileged liquidity pools. Accordingly, the study found that Uniswap could be purposely stunting the growth of potential projects, a concern that must be addressed.

Besides cushioning against market dumps, two percent of the marketing wallet will fund all marketing efforts, including financing partnerships and campaigns.

SLINK is currently trading on Uniswap, paired with WETH. As per SLINK contract details, 11.39 percent of the total supply supplements its liquidity in Uniswap. As of July 17, SLINK had total liquidity of $123,332.92 from a daily trading volume of $82,956.66. There are 32.37 WETH and 175.5 billion SLINK pooled from 1,397 liquidity providers. At spot rates, SLINK has a fully diluted market cap of $351,464.27.

In Q3 2021, ShibaLink plans to list on CoinMarketCap while accelerating its marketing campaigns. During this time, the team would onboard more partners while deploying cross-chain contracts on top of releasing their white paper. Later on, in the last quarter of the year, SLINK tokens will be available for trading on several centralized exchanges.