Thread by @RiddlerDeFi

1/

The first $SHIB on @arbitrum isn't just memes, utility is hidden under that fur 🐶

@NitroShiba has released two new products:

🐕‍🦺 Leash Protocol
🔐 Nitrolocker

How do they work?

Let's find out 👇🧵

@arbitrum @NitroShiba 2/

TL;DR 🎙️

@NitroShiba released 2 new services:

💎 Leash protocol
💎 Nitrolocker

Nitrolocker allows projects to lock liquidity quickly and easily 🔒

Leash Protocol helps users check to lock safety levels by giving out a score from 0 to 100% 🐕‍🦺

https://twitter.com/NitroShiba/status/1603432271058378758

@arbitrum @NitroShiba 3/

The roadmap given by @NitroShiba promised us since quite some time free services for the $ARBI community 🤝

The Nitrolocker and the Leash protocol have finally arrived, and as promised, they are free for everyone

@arbitrum @NitroShiba 4/

The Why❓

#Arbitrum is growing exponentially, both in unique wallets and volumes

While this is good for #DeFi developing here, more 👀 also means more scammers and rugs

@arbitrum @NitroShiba 5/

For this reason, people need to research well, do their own diligence, and let's be honest, get lucky 😨

Tools get developed for checking smart contracts and block explorers are always here for that 🔍

All of this takes time and experience

@arbitrum @NitroShiba 6/

There are 3 main things to look at to avoid rug pulls:

📝 The contract being verified
🤝 Ownership being renounced
🔐 Liquidity locks

After the first 2, $NISHIB can help us with the 3rd

@arbitrum @NitroShiba 7/

Nitroshiba's liquidity locker is pretty simple to use and anyone can access it

Projects who want to reassure investors about the devs' good faith can use $NISHIB's Nitrolocker to lock liquidity

@arbitrum @NitroShiba 8/

But locking liquidity can also be used to trick investors❗

Some sneaky devs can lock a way smaller amount just to show a tx

Some can lock for a very brief time, rendering the lock pretty useless

@arbitrum @NitroShiba 9/

That's where the 2nd @NitroShiba product comes in handy

Leash Protocol is an automated real-time risk assessment system for liquidity locks

Users can input the LP address straight into Leash Protocol 🐕‍🦺

@arbitrum @NitroShiba 10/

Leash will munch some math on the liquidity lock and will give users a percentage back, the Health Score 🚑

Leash is designed to make it really hard to pass the 85% mark

If it gets above 90% it's "MOSTLY" SAFU

@arbitrum @NitroShiba 11/

Some disclaimer 👇

Leash can be used only on verified and renounced contracts 📝

At the moment it only works with Nitrolocker-locked LPs and only for @SushiSwap LP tokens 🍣

The team is working on expanding the service to more #DEXs and types of tokens 👷

@arbitrum @NitroShiba @SushiSwap 12/

Of course, when using these tools it's important to remember that #DYOR is key 🗝️

And as we said before, sometimes luck plays a big part

It can be good to practice risk management when choosing how much to invest, and maybe use burner wallets 🔥

@arbitrum @NitroShiba @SushiSwap 13/

Despite everything, These are valuable tools and anyone dabbling in @arbitrum #DeFi should use them when possible 🧰

This is also a shootout to devs who wants their investors to feel safe when buying your tokens 👇

@arbitrum @NitroShiba @SushiSwap 14/

That was it for this thread 🧵

You know the drill 🫡

Follow me @RiddlerDeFi for more alpha 🧠

Best way to support is to simply drop a RT + LIKE on the #1 tweet of this thread 🖤

https://twitter.com/RiddlerDeFi/status/1618673134680346628

@arbitrum @NitroShiba @SushiSwap 15/

Useful Links 🌐

Website: nitroshiba.xyz
Nitrolocker and Leash: nitrolocker.com/locker
Twitter: @NitroShiba
Telegram: t.me/NitroShibaPort…
LinkTree: linktr.ee/nitroshiba
Medium article on Leash and Nitrolocker👇 medium.com/@NitroShiba/ni…