To kick things off, we’ll start by exploring the Shido ecosystem and blockchain. This will give you an overview of the network’s current state, which can be helpful in assessing the value of the SHIDO token. We’ll also cover on-chain analytics of the SHIDO token using Moralis Money – the industry-leading on-chain trading indicator.
Lastly, to top things off, we’re also going to show you how to find the next 100x crypto using Moralis Money. For a sneak peek, here’s a quick demo showing you how easy it is to find new exciting coins with one of Moralis Money’s premade filters:
Exploring the Shido Ecosystem and SHIDO Token
Shido is a robust ecosystem with prominent decentralized finance (DeFi) utility. It was initially introduced on the BNB Smart Chain (BSC) via a small and quiet launch. According to their website, there were no pre-sales or private sales, and all tokens were allocated to the liquidity pool.
In April 2022, Shido also launched on the Ethereum network, along with an ETH bridge. This expansion to Ethereum opened the possibility for new investors and paved the way for Shido’s cross-chain ecosystem.
Shido is looking to launch several DeFi platforms and utilities in 2023. Each utility will generate revenue independently. Furthermore, instead of the revenue going into wallets, the profits will be used for development and buy-backs of the native $SHIDO token. Nevertheless, the Shido ecosystem features several platforms and utilities. Some examples are the Shido blockchain, Shido DEX, Shido Wallet, and Shido Card. In the sections below, we’ll dive deeper into the Shido ecosystem and explore these products briefly, starting with the Shido blockchain!
What is Shido Blockchain?
The Shido blockchain is a decentralized sharded L1 proof-of-stake (PoS) network. It combines the power of Ethereum Virtual Machine (EVM) and the interoperability of Cosmos, letting developers choose the environment of their choice.
The architecture of the Shido blockchain provides endless scalability and free value sharing between Shido and other prominent ecosystems within the industry. And it’s all powered by the Tendermint consensus engine.
Furthermore, here are four core features of the Shido blockchain:
- Interoperability: Shido is a decentralized L1 blockchain in the Cosmos network. The chain is compatible with the IBC protocol, connecting Shido to over 30 other blockchain networks.
- EVM-Compatibility: The Shido blockchain is EVM-compatible, making it congruent with all EVM chains, including the Ethereum mainnet. Moreover, Shido is also compatible with EVM toolings such as MetaMask, Remix, etc.
- Infinite Scalability: The Shido blockchain features a modular design and is scalable by nature. Their scalability capabilities span both vertically and horizontally. According to the website, it can scale up at any given time.
- Carbon Neutral: Shido is a carbon-neutral blockchain network. The validator nodes run parallel alongside their carbon-neutral program, ensuring that the Shido blockchain doesn’t negatively impact the environment.
Beyond the Shido Blockchain – Other Shido Products
The Shido ecosystem spans beyond its blockchain network, and below, you’ll find three additional products:
Shido DEX
The Shido DEX is a gateway to the world of decentralized finance (DeFi), and it features a DeFi aggregator, liquidity protocol, perpetual DEX, and cross-chain swap:
- DeFi Aggregator & Cross-Chain Swap: Through the Shido DEX’s DeFi aggregator, it’s possible to trade thousands of different tokens. With the cross-chain swap, users can seamlessly swap assets between chains.
- Pools, Staking, and Yield Framing: Via the Shido DEX liquidity protocol, users can put their assets to work by providing liquidity to featured liquidity pools.
- Limit Orders: With the Shido DEX gas free limit protocol, it’s possible to place limit orders for fixed prices in swaps. Users can also put a stop loss on their orders by setting a price in advance.
- Perpetual DEX: The perpetual DEX offers deep liquidity and up to 200x leverage on crypto assets on BSC and Ethereum.
Shido Wallet
Shido Wallet is a non-custodial decentralized Web3 wallet used for buying, storing, sending, and swapping cryptocurrencies and NFTs. It has the following three featured:
- Fiat On-Ramp and Off-Ramp: With Shido Wallet, users can buy hundreds of crypto directly with their card and deposit fund straight to their bank.
- NFT Support: It’s possible to store and view NFT collectibles in Shido Wallet.
- Custom Web3 Browser: Users can explore the Web3 world through the Shido Wallet’s built-in custom browser.
Shido Card
The Shido Card & Bank is a debit card and banking service available on the Shido website and Shido Wallet. It has four core features:
- Spend Crypto: Users can sell, buy, and send crypto without pre-conversions.
- Spend Fiat: Spend over 150 conventional fiat currencies with the Shido Card.
- Banking Service: Shido Card offers a crypto-friendly banking solution, allowing users to make international bank transfers at low rates.
- Concierge: Shido Card offers a 24-hour concierge service assisting users with service, shopping, and travel needs.
What is the SHIDO Token?
The SHIDO token is deployed on both Ethereum and BNB Smart Chain. On June 24th, 2023, Shido updated the contracts for the SHIDO token. Both the ERC-20 and BEP-20 SHIDO tokens are governance and utility tokens for all of the Shido ecosystem’s DeFi utilities. According to the Shido website, some of the profits from all DeFi products will be used for token buy-backs.
This is what the SHIDO tokenomics looks like:
Now, if you’re a crypto investor or trader, you might ask yourself: will the SHIDO token break out and moon?
Answering the question above is easier said than done. However, unlike other altcoins and prominent meme coins, SHIDO has utility. The SHIDO token powers the network’s ecosystem, and if it continues to grow, it might perhaps reflect positively on the token. Unfortunately, only time will tell if Shido continues to expand and sees further success. And we can’t say for sure that it will positively affect the SHIDO token price.
Nevertheless, in addition to closely following the development of the Shido ecosystem, another prominent method for determining whether or not the SHIDO token will continue to grow is to use on-chain analysis. With on-chain analysis, you can leverage irrefutable blockchain data and real-time market activity as a foundation for investment decisions.
So, let’s take a closer look at the SHIDO token’s on-chain analytics!
SHIDO Token On-Chain Analytics
On-chain analysis is an altcoin trading strategy where you leverage the irrefutable and publicly available blockchain data to get valuable market insight. However, a challenging aspect of on-chain analysis is to get a hold of the information you’re after. And if you do, you also need to interpret the data to make it actionable.
Querying blockchain data is hard, especially if you lack technical expertise. Luckily, this is where blockchain analytics tools like Moralis Money enters the equation. Moralis Money is a premier on-chain trading indicator. This tool leverages on-chain data in real-time, giving your true market alpha!
One of Moralis Money’s most prominent features is the token pages. Each coin has its own dedicated token page, where you can find information based on on-chain data. This includes general stats such as a token’s market cap, holders, trading volume, and liquidity. But also price charts, security information, user ratings, etc.
We can leverage this feature to study the on-chain metrics of the SHIDO token. You can find the data you’re looking for via the interactive widget down below:
In the iframe above, you can find real-time, on-chain data for the SHIDO token. Moreover, it’s interactive, meaning you can change the timeframes for the metrics to see how the token has been performing over time.
The information above lets you determine if the SHIDO token is an attractive investment opportunity or not. For instance, seeing a significant increase in experienced buyers might indicate that the token is on the rise.
Unfortunately, we can’t give you a straightforward recommendation as this data is continuously changing, meaning that the SHIDO token might be an attractive investment today but not tomorrow. So, start by studying the on-chain metrics and continue to do your own research on the Shido ecosystem!
Beyond the SHIDO Token and Blockchain – Find New Exciting Opportunities with Moralis Money
Moralis Money is – in addition to providing the token pages – the industry-leading crypto scanner. It leverages real-time blockchain data to give you the latest market updates. As such, when working with Moralis Money, you can easily find the most undervalued crypto coins and maximize your crypto trading gains!
Just check out some happy customers already using Moralis Money to up their altcoin trading game:
To illustrate the power and simplicity of this tool, let’s show you how to find new tokens with Moralis Money’s Token Explorer!
How to Find the Next 100x Crypto
Moralis Money’s Token Explorer features 15+ unique search parameters. You can pick and choose among these to make your own unique queries. In doing so, you can target tokens you’re after based on their on-chain metrics!
For instance, we’ll show you how to find new, secure coins gaining traction from other crypto traders in three simple steps:
- Step 1: To begin with, let’s launch Token Explorer and add the Coin Age metric to generate a list of altcoins minted within the past 30 days:
- Step 2: Next, combine the Coin Age metric with the Security Score and Experienced Buyers metrics. With Security Score, we filter for coins with DEXT scores higher than 80. With Experienced Buyers, we ensure that our list only shows tokens with increasing buy pressure:
- Step 3: From here, you can combine the metrics above with additional filters to make your query even more unique. For example, add Market Cap if you want to find low/high market cap coins. Or Liquidity if you want to find tokens that have recently seen a positive influx of liquidity.
That’s it! When working with Moralis Money, it’s easy to generate a dynamic list of potential altcoin gems. From here, you can now click any of the coins, and you’ll be redirected to its token page for more detailed data. Before making a decision to buy, always remember to do your own research!
Five Additional Tips for Using Moralis Money
The token pages and Token Explorer are just a taste of Moralis Money; there’s much more to the platform. As such, here are five additional tips for using Moralis Money:
- Tip #1: Set Up Token Alerts – Use Moralis Money’s Alerts feature to set up email notifications for on-chain events you’re interested in. Go to the ”Alerts” tab, add a token address, apply a filter, input your email, and start monitoring:
- Tip #2: Protect Yourself from Scams – Use the Token Shield feature to dodge potential scams. Look for the shield symbol attached to each coin for a glance at its DEXT score. You can also get more detailed security information on each token page:
- Tip #3: Track Your Portfolio – Use one of the best wallet trackers for an overview of all your holdings:
- Tip #4: Explore Other Networks – Moralis Money supports multiple networks. So, explore new coins on chains like Ethereum, Binance, Polygon, and Arbitrum:
- Tip #5: Check Out the Moralis Money Pro Plan – Maximize the value of Moralis Money with the Moralis Money Pro plan. This gives you access to a private Discord server, premium education, narrower timeframes for all search parameters, and much more:
Summary – Exploring the Shido Blockchain and SHIDO Token
In today’s article, we explored Shido, a DeFi ecosystem consisting of numerous products and utilities. Some prominent examples are the Shido blockchain, Shido Wallet, Shido Coin, and the native token $SHIDO.
In addition to exploring the ecosystem, we also looked closer at the SHIDO token’s on-chain metrics using Moralis Money – the premier on-chain crypto tool. In addition to using Moralis Money to analyze token data, we also showed you how to leverage this tool to find new promising altcoins.
Moralis Money has the following three core features:
- Token Explorer: With Token Explorer, you can create custom filters to find exactly the tokens you’re after. As such, with this tool, you can easily find new crypto projects before everyone else.
- Token Alerts: Token Alerts lets you set up email notifications based on unique filters. This means you can stay updated even when you aren’t in front of your screen.
- Token Shield: With Token Shield, you get comprehensive security evaluations of all coins and can protect yourself from scams.
Also, if you’d like to enhance the value of Moralis Money further, consider subscribing to the Moralis Money Pro plan. You can try it out by heading to our pricing page and signing up for our seven-day trial:
If you’re eager to discover tokens on your own, then take Moralis Money for a test ride using the interactive widget below:
