Shido NetworkPrice

(SHIDO)

To migrate assets to the official Layer 1 blockchain, holders must use the Shido Migration Portal. This involves connecting a private wallet, sending legacy tokens, and receiving native coins on the Shido Network. For users holding tokens on centralized exchanges like LBank, the migration is typically handled automatically. If an exchange does not support the swap, you must withdraw to a private wallet and use the portal to ensure your assets are moved to the new chain before migration windows close.

Following a security incident in early 2024 involving an Ethereum-based staking contract, the project transitioned to its own independent Layer 1 Proof-of-Stake (PoS) infrastructure. This move away from vulnerable third-party smart contracts enhances network security. The project now emphasizes rigorous security protocols, including audits from reputable firms like PeckShield and regular updates to the network’s core code to ensure a resilient and secure environment for all participants.

Shido utilizes a Proof-of-Stake model where users can stake native coins to secure the network and earn rewards. The APY is variable based on network participation. Users can also participate in the 'Vote-Escrowed' model by locking their coins to receive veSHIDO. This grants governance voting power and increases staking rewards. It is important to note that rewards do not auto-compound; users must manually claim and re-deposit their earnings if they wish to compound their position.

SHIDO operates with a 7% annual inflation rate designed to reward validators and maintain network security. To offset this inflation, the protocol features a 'Burn Module' where a portion of every transaction fee on the network is permanently destroyed. As transaction volume and network adoption grow, the burn rate increases. For accurate data, users are encouraged to use Shidoscan, the official network explorer, as third-party platforms may display outdated legacy information.

A significant part of the project's roadmap is the Shido Card, a crypto-to-fiat debit card. This utility is designed to allow users to spend their digital assets for real-world purchases at millions of merchants globally. The team is focused on expanding regional availability and ensuring regulatory compliance. This bridge between decentralized finance and traditional payment systems is a core component of their strategy to increase the practical utility of the native coin.

The primary technical advantage of the Shido Network is its 'Dual-VM' architecture. This allows developers to build decentralized applications using both the Ethereum Virtual Machine (EVM) and WebAssembly (WASM) environments on a single blockchain. By providing compatibility for both Ethereum-based and Cosmos-based development tools, Shido offers a highly flexible and interoperable environment that simplifies the deployment process for developers coming from different blockchain backgrounds.