First Woof!

Cristian D

Nov 6, 2023 — 19 min read

Greetings, tech enthusiasts and curious minds! Welcome to The Shib Magazine, your gateway to groundbreaking ideas, the latest innovations, and exciting updates within the Shibarium ecosystem and beyond. Get ready to dive into the world of technology, finance, and everything in between as we embark on a journey filled with endless possibilities.

Subscribers can mint the first 1000 covers for free

The Vision

Our vision for the magazine is to transcend the boundaries of a conventional magazine and elevate it into a comprehensive tech magazine. Here at The Shib, we love the crypto world and anything related to blockchain tech. But there is so much more to it. There are vast domains hinging upon these – from the Metaverse games that the intern is always trying to make you play to the RPA tools that the accounting department is using and, of course, the AR apps that all the cool kids (aka millennials) are using.

The crypto industry can sometimes be self-oriented. That’s why we want to expand it to other use cases in order to form new potential interactions, synergies, and alliances between different worlds (and points of view) that might have never been put together before (and that might not even like each other that much!). NFTs are a good example of that divergence. Some love them; others hate them. No matter if you call them NFT, digital collectibles, or even blockchain objects, the ultimate goal should be to build REAL use cases for REAL people. It doesn’t matter what tech stack you use or whether you like crypto or not.

AI, AR, IOT and RPA might seem like alien words to some. But in this space, we thrive on researching, talking, and even arguing about all the potential applications and futuristic opportunities that these technologies can bring to the human and dog kind. And we would love to share our appetite for it to our beloved community. For an optimal experience, visit https://news.shib.io/.

What to Expect from the Publication

Curious about what we have in store for you each week? Here's a taste of what you can expect from The Shib weekly:

🔥 Latest Innovations in Tech

Stay ahead of the curve with our timely updates on what's new and upcoming in the blockchain and tech world. Whether it's an exciting new project, a groundbreaking technology, or a disruptive concept, The Shib will be your source for staying in the know.

🚀 Product Updates

Keep up-to-date with the evolution of Shib products on Shibarium and the introduction of new solutions within the ecosystem. We'll keep you informed about the latest developments and improvements that will enhance your experience.

🌐 Community Updates

Learn about the vibrant and passionate Shib Army. Get a taste of their events, initiatives, and success stories. (P.S. Join our community and be a part of a growing network that embraces collaboration!)

Our magazine will provide valuable insights into trending tokens within the Shibarium ecosystem. Stay informed about promising projects, investment opportunities, and emerging trends that could shape the future of the industry. Don't let the next hidden gem pass you by!

🎙 Exclusive Interviews

Gain unique insights from representative figures spearheading innovation within Shib and beyond. Through interviews with industry experts, entrepreneurs, and thought leaders, The Shib will provide you with invaluable perspectives on the latest innovations and their potential impact on various enterprises.

🤝 Community Contributions

We believe in the power of community engagement and collaboration. That's why we provide a special space for community members to contribute to our magazine. Share your expertise, showcase your projects, and let your voice be heard. We're here to amplify your thoughts and ideas.

🎨 Entertainment and Creativity

Tech talk doesn't have to be serious all the time. We embrace the fun side of the community! Get ready for a dose of entertainment with memes, photos, and artwork by creative members of the community. Let's celebrate our shared passion and enjoy the lighter side of the tech world together.

Mint the NFT cover

Every week, The Shib subscribers will be able to mint the cover of the most recent edition. You can collect them and you will be able to trade them (soon).

Advertise with Us

Anyone interested in expanding their reach can benefit from this exciting feature of the magazine. We offer comprehensive marketing packages! This includes the opportunity to be featured on the front page or join our influencer network, giving your project maximum visibility. We also offer ad space for those looking to be seen by a vast and varied audience on our platform. Don’t miss out on these opportunities to bolster your marketing efforts and bring your organization to new heights. If you are interested in finding out more about our packages, send us an email at ads@shib.io.

Don't miss out on the latest updates, insights, and inspirations from the world of Shib. Subscribe to The Shib magazine today and receive a weekly copy directly in your inbox.

Get your own official Shib names with the launch of our name service.

A Little Backstory

SNS is your passport to everything the Shib ecosystem offers. Our transversal name service benefits users across Shib and beyond.

The product sprang from a simple yet game-changing thought conceived during the early stages of Shibarium: making blockchain addresses more user-friendly. The Shib team understands that those long strings of hexadecimal characters aren’t the most approachable things in the world. Thus, the concept of SNS was born – a system that translates complex Shibarium addresses into easy-to-remember names as part of Shibdentity. Find out more about Shibdentity on this blog post.

Major Benefits of SNS

SNS isn't just a fancy tech toy; it addresses real-world problems, such as the following:

Addressing Errors: No more typing in the wrong address and losing your hard-earned crypto. With SNS, names are easier to recognize and verify.
Censorship: In regions where online censorship is a concern, SNS provides a lifeline, ensuring your online identity remains intact.
Identity: Stand out in the crowd with a memorable name. SNS lets you establish a unique online identity.

Making Blockchain Accessible

"SNS: Your Decentralized Identity, Simplified!" – It's not just a slogan; it's a promise. It's about making blockchain technology accessible and user-friendly, all while empowering users to take control of their digital identities. We want users to feel like pioneers of the future web, where blockchain and decentralized services are as user-friendly as they are revolutionary.

Imagine you have a pet grooming business and you can register a unique, creative name such as “FluffyTails.shib” or snap up your first name (e.g., emily.shib). Keep in mind that once somebody else gets their hands on the custom name you like, it’s gone and we would hate for you to miss out!

We will have a feature that enables you to buy multiple domains so get creative to maximize the use of this product.

Did we mention that you will also be allowed to resell your Shib names? That's right… you heard it here first, and you’ll find out more about it – only here – soon.

The Technicals

At its core, SNS is all about simplicity and empowerment. Here's a rundown of what makes it such a disruptor:

Shib Names: SNS lets you map complex Shibarium addresses (and more) to simple, human-readable names ending in .shib such as "CryptoLover.shib". Therefore, make sure to secure your own before someone else grabs it!
Resource Mapping Revolution: SNS expands beyond Shibarium to handle IPFS, Swarm, and more!
Unstoppable Identity: SNS, powered by Shibarium, shields your domain name from seizure and censorship.
Future-Ready Flexibility: SNS adapts and evolves to support new functionalities.
dApp Harmony: Enjoy seamless integration with Shibarium dApps and wallets for easy interactions.
Endless Possibilities: Combine SNS with IPFS for hosting decentralized websites!

SNS launched recently and is now live at name.shib.io!

Now that this name service is available to everyone, the future of Shibdentity looks brighter. So, go check it out before someone else grabs that degen.shib you want so badly.

Send your best SNS name to submissions@shib.io for a chance to be featured in next week's edition.

SBF Trial: Teh TLDR

The Sam Bankman-Fried trial is underway. Caroline Ellison and Gary Wang dropped bombshell after bombshell during the first weeks. And now, SBF's defense counsel has spoken. We have summed up everything you need to know about this already infamous crypto story.

Is the FTX hacker in the room with us right now?

Give me the throwback on that one?

The man behind FTX collapse is facing 7 criminal charges including fraud and money laundering.

If convicted, SBF could get a life sentence in prison and earn himself a spot with Ponzi and Madoff in the GSAT (Greatest Scammers of All Time) race.

Day 1

To be fair…

Day one was underwhelming.

No witnesses. No legal arguments. No “objection your honor!” yelled across the room. Day 1 was “picking the jury day.”
No fun at all. So let’s skip that.

Caroline Ellison’s Testimony

Ellison, 28, is the government’s highly anticipated star witness in the six-week trial of Bankman-Fried. She was the CEO of Alameda Research, the hedge fund that allegedly stole billions of dollars from FTX customers.
She entered a plea agreement to cooperate with the U.S. government and was SBF's ex-girlfriend.

Teh TLDR:

They borrowed billions of dollars and used FTT (aka FTX’s native token) as collateral. Alameda would use their boatload of magic internet money as collateral in exchange for billions of dollars of real money.
Alameda would then use FTX customer deposits to pay back loans. In total, Caroline estimates they took $14B from FTX customers. (!!)
She sent balance sheets at the direction of Sam that made Alameda’s balances look less risky to investors.
A lot of this money went to loans made to members of Bankman-Fried’s inner circle, with funds going toward “investments and political donations.”
According to Ellison, Bankman-Fried thought the political donation strategy was “highly effective,” offering “very high returns in terms of political influence” at a modest cost.
We even got a “He told me he wanted to be the next United States President”. Yup, SBF told Ellison he had a 5% chance of becoming president one day.
Ellison also spoke about the “essentially unlimited” line of credit Alameda had at FTX. Bankman-Fried “was the one who set up these systems,” she said.
She admitted that Sam bribed Chinese officials with $100M to unfreeze their assets, purposely tried to scam Saudi investors in the final days of FTX, and intentionally tried to put their competition (Hello, CZ and Binance!) into the regulators' bull’s eye.
Caroline Ellison also admitted that she and SBF conspired to keep Bitcoin under $20k by selling customer BTC.
That is some deep paper hands territory here, but why?

What Did Gary Wang Say?

The facts: Crypto exchange FTX used hidden Python code to misrepresent the value of its insurance fund (meant to prevent user losses during liquidation events), according to testimony from FTX co-founder Gary Wang.

The story: In a damning testimony, FTX’s former chief technology officer, Gary Wang, said that FTX’s so-called $100-million insurance fund in 2021 was fabricated and never contained any of the exchange's FTX tokens (FTT) as claimed.

Instead, the figure shown to the public was calculated by multiplying the daily trading volume of the FTX token by a random number close to 7,500.
So, that’s how you create an insurance fund. With magic numbers. *Sigh*

SBF pleads his case

Yesterday was the moment we’d all been waiting for…

A live remake of what Eminem warned us about 20 years ago in Lose Yourself

"His palms are sweaty, knees weak, arms are heavy."

It was time for SBF himself to take the stand. And the strategy he adopted is probably the most known defense in lawyer history: advice of counsel.

Or as Saul Goodman would say, “My lawyer at the time told me it was OK.”

That’s why most of the discussions focused on Dan Friedberg, FTX’s former lawyer.

Who created FTX’s terms of service? Dan.

Who signed the applications for their bank account? Dan.

Who told SBF which messages to auto-delete on Signal? Dan.

Dan was the hottest name in the arena that week.

It was either that or Sam repeating "I don't recall" (104 times exactly) which is another version of pleading the fifth (aka protecting oneself against self-incrimination).

Even his own lawyer took a jab at him:

**We can't wait to see the Netflix documentary of that whole story.**

The defense also pushed the fact that Alameda (which led to the collapse) was not directly managed by SBF and other minor arguments that didn't resonate with the audience according to Tiffany Fong during an interview with Coinbureau.

They also pictured the defendant as an entrepreneur who made “terrible mistakes” in good faith, denying accusations that he directed his inner circle to make political contributions (he was Biden's second biggest donor) and venture investments and purchase luxury real estate with customer funds.

On the other side, we got a GOTCHA moment when the State Attorney said, "That’s fraud. It’s stealing, plain and simple. Before FTX, there was Alameda,” presenting one of the many charts the government used as evidence. He also added extensive evidence to the prosecution's case, including testimony from officials and law enforcement agents trying to prove Sam's entanglement.

POV: You're at the FTX office on Nov. 17, 2022.

And now the BIG reveal.
A jury of 12 has decided that SBF was...

GUILTY on all charges.

The sentence will be given on March 26th. Justice has been served, and the fallen "king of crypto".
SBF had one shot, one opportunity to achieve a generational finance revolution, but he dropped the ball so hard that th3 whole crypto-industry is still feeling the shockwaves of it.
Sam has fucked around, and he is finding out the consequences of his actions.

Remembering Cheems: The Beloved Shiba Inu Extraordinaire

A last goodbye to the OG meme dog on the web 🥲

On August 18, 2023, the internet collectively shed a tear for a dear friend it had never met in person but had grown to love dearly – the Shiba Inu extraordinaire, Cheems.

Also known as Balltze in his everyday life, this beloved pup, unfortunately, passed away at age 12 after his battle with cancer and a final thoracentesis surgery.

Though he's no longer with us, his legacy as the unofficial poster boy of Shib lives on, and we want to say a heartfelt thank you.

The Rise of Cheems

Cheems' incredible journey to stardom began in 2017 when his owner, Kathy, from the vibrant city of Hong Kong, shared pictures of him casually lounging on some elegant marble steps.

What started as a simple photo quickly became the stuff of internet legend when someone humorously compared his appearance to "cheese," giving birth to the iconic moniker "Cheems." From that moment on, Cheems, with his endearing round face, became a meme sensation.

But he wasn't just any meme. As the world faced the unprecedented challenges brought about by the COVID-19 pandemic, his memes brought joy and humor to millions around the globe, offering a much-needed escape from the grim realities of the world.

Cheems and Shib

Cheems played a pivotal role in shaping the identity of Shib. Without this Shiba Inu's smiling face, Shib might not have the global recognition it enjoys today. His friendly and familiar face instantly connected people with us, making it a recognizable and inviting platform for cryptocurrency enthusiasts worldwide.

A Heartfelt Goodbye

As we bid farewell to our dear Cheems, we want to express our heartfelt gratitude for the joy, laughter, and comfort he brought into our lives.

So, thank you, Cheems, for being our friend, our source of happiness, and our identifier for Shiba Inu around the globe. Your impact on the internet world and the Shib community will forever be cherished, and you'll always have a special place in our hearts.