ShibaSwap, the well-known decentralized exchange (DEX) for Shiba Inu, has made a move to the Shibarium blockchain, an ecosystem layer-2 blockchain. Lucie, a content marketing specialist for Shiba Inu, announced this development in a recent post on X. Previously, ShibaSwap was exclusively on the Ethereum blockchain, but the Shiba Inu development team has now confirmed its migration to Shibarium, which happened eight months after the blockchain’s debut.
This migration is seen as a significant advancement for ShibaSwap, offering new opportunities within the Shibarium blockchain ecosystem. With ShibaSwap now on Shibarium, Shiba Inu enthusiasts can expect to see a range of new dApp utilities that are powered by Shibarium. These enhancements include the integration of new tokens into ShibaSwap’s native ecosystem, improved liquidity pools, and advanced DeFi functionalities. Additionally, users will have access to exclusive farming contracts that reward both early adopters and long-term investors. A new launchpad will also be available to facilitate token discovery on ShibaSwap.
Furthermore, ShibaSwap now offers community-driven features such as token voting competitions and incentivized engagement. These features aim to encourage active participation from the Shiba Inu community.
Shytoshi Kusama, the lead developer of the Shiba Inu ecosystem, describes the revamped ShibaSwap as a central hub for both innovators and Shibizens. According to him, it’s a place where community tokens thrive, creating a dynamic marketplace filled with unique projects, causes, and ShibArmy members. The Shiba Inu team is excited about the future and urges the SHIB Army to stay tuned for more updates.
The migration of ShibaSwap to Shibarium comes shortly after Kusama hinted at the arrival of ShibaSwap 1.75, which has been highly anticipated by the community. ShibaSwap was launched in July 2021 and quickly gained popularity, briefly surpassing Dogecoin in market capitalization. This was partly due to the impact of ShibaSwap and the high demand for SHIB at the time.
ShibaSwap allows users to contribute liquidity and trade various tokens while earning its governance token, BONE. By incentivizing transactions with rewards, SHIB is driving up trading volume and establishing ShibaSwap as the leading platform for community token transactions within Shibarium. The Shiba Inu team believes that these advantages benefit all users and contribute to a thriving marketplace ecosystem.
Currently, ShibaSwap has a 24-hour trading volume of $482,058 and offers over 100 listed trading pairs.
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