RAS AL KHAIMAH, United Arab Emirates, July 17, 2023 (GLOBE NEWSWIRE) -- Nukem Loans, an isolated lending protocol specifically designed for MEME coins, is set to deploy a Lending Market for Shiba Inu (SHIB).
Shiba Inu (SHIB) is one of the most popular cryptocurrency projects, inspired by the Shiba Inu dog breed and known for its resemblance to Dogecoin. With its dedicated community, Shiba Inu aims to create a decentralized ecosystem that includes features such as a decentralized exchange (DEX), an NFT marketplace for trading digital assets, and a charity fund dedicated to supporting animal rescue organizations. With over 1,077,000 holders on the BNB smart chain, SHIB currently has a market cap of $4.6 billion, with only $0.45 million of liquidity on BIswap and APEswap (50/50), resulting in a liquidity to market capitalization ratio of approximately 0.000098.
DeFiKash, the founder of Nukem Loans, stated, "SHIB has great potential for utilizing all the features Nukem Loans is offering to create a successful lending market on the BNB smart chain for their project. With more than 1 million token holders and $4.6 billion collateral value, borrowers will initially compete for $0.22 million worth of loans, while lenders can expect very lucrative yields and potential growth in the addressable market for SHIB."
"SHIB is definitely underrepresented on the BNB smart chain. We see a huge opportunity here, and we are more than sure that the lending utility Nukem Loans is offering to SHIB holders will result in the migration of a substantial amount of tokens and liquidity to the smart chain. Our lending platform will be released on the Ethereum network in a few weeks, but we would like to see an active lending market for SHIB on BNB as well, primarily due to the low transactional fees. With no transactional tax applied to each buy, sell, or transfer, we can easily deploy a lending market on our platform," explained community manager Coinsigliere.
"Nukem Loans gives token holders a reason to HODL SHIB coin and refrain from selling by allowing them to take loans against their collateral value when needed. The leverage function brings more volume and volatility to token trading, giving more upside potential to the price action. Users can hedge their risk, trade volatility, or earn passive income by using Nukem Loans. This level of utility attracts more token holders and leads to market cap growth," added Coinsigliere.
About Nukem Loans
Nukem Loans, an isolated lending protocol designed specifically for high-risk meme projects with deep liquidity and large communities. After 18 months of dedicated work and over 50 iterations, Nukem Loans has perfected their smart contracts to revolutionize the industry and empower projects with strong communities but limited utility.
Mr S. Khan