As a seasoned crypto investor with a soft spot for underdog projects, I’ve been keeping a close eye on the Shiba Inu ecosystem. The recent announcement about ShibaSwap 2.0 migrating to Shibarium has piqued my interest once again.
The Shiba Inu ecosystem is transferring its homegrown decentralized exchange to a new platform called Shibarium, which will be an upgraded version of ShibaSwap.
- The DEX will now be usable on both Ethereum and Shibarium – the layer 2 blockchain of the SHIB ecosystem focused on scalable, fast, and cheap transactions.
Per a press release shared with CryptoPotato, ShibaSwap 2.0 will include new features like improved user processes for adding and reducing liquidity, staking and trend analysis.
It will also feature discovery charts for new and trending tokens, and foster onboarding for new tokens into the ShibaSwap market.
Transaction fees will be partially paid out to liquidity providers, enhancing the value of their LP tokens used in swap transactions.
“ShibaSwap 2.0 represents the revamped core of Shibarium’s successor, providing an optimal environment for community tokens to thrive. According to Shiba Inu Lead Developer Shytoshi Kusama, this new user experience is currently a preliminary version of Shibaswap, with further enhancements planned for its release.”
Total transactions on the Shibarium network have now surpassed over 400 million. Last month, developers introduced Fully Homomorphic Encryption (FHE) to the SHIB blockchain ecosystem – a technology for improving user privacy.
The price of SHIB rose 3% on Wednesday, alongside Bitcoin (BTC). Meanwhile, BONE – the governance token of the ShibaSwap exchange – pumped by 7.6%.
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2024-05-15 21:56