KEY FACT: Welcome to the era of decentralized finance on the Shibarium Blockchain! ShibaSwap has rolled out a major upgrade and is now live on Shibarium blockchain in addition to Ethereum.
ShibaSwap on Shibarium. Source: Shibtoken on X
ShibaSwap DEX is Live on Shibarium Blockchain
ShibaSwap, the decentralized exchange (DEX) connected with the $SHIB meme cryptocurrency, has rolled out a major upgrade, porting to the Shibarium blockchain. The much-anticipated launch of Shibaswap DEX on its native blockchain Shibarium marks a significant milestone in the evolution of the Shibarium ecosystem. The DEX will now be usable on both Ethereum and Shibarium.
The press release dated May 16 mentioned that the move will offer a “variety of new decentralized exchange and decentralized app (DApp) utilities” for users. In an X post shared Wednesday on May 15 via the official account of the Shib token, it was emphasized that ShibaSwap is the centre for the SHIB community’s blend of innovation and growth.
#ShibArmy the wait is finally over — ShibaSwap is coming home to Shibarium! - X post
The press release detailed new features including a new and enhanced dashboard, improved user experience for adding/withdrawing, liquidity, staking, trend analysis, as well as discovery charts “for new and trending tokens. The DEX would facilitate the onboarding process of news tokens onto ShibaSwap.
ShibaSwap is the cornerstone of a thriving community ecosystem, empowering creators, fostering connections, and driving innovation on Shibarium. As the first decentralized exchange on-chain native to Shibarium, Shibaswap promises to revolutionize the way users trade, stake, and participate in the vibrant Shibarium community.
Shiba Inu lead developer, Shytoshi Kusama commented on the upgrade, expressing satisfaction with the improvements and innovations, while hinting at a better future for the SHIB Army.
“The new ShibaSwap empowers DEFI innovators looking for the next hit on Shibarium to find, swap, and interact with community tokens in an entirely new way! It is the redesigned beating heart of a freshly forked Shibarium, where community tokens can flourish. We invite the community to try our new swap and invite current Shibarium tokens to port over to our swap with ease. Finally, rest assured, this new UX is still an early ShibaSwap version, with more updates in the pipeline for the product.”
According to Kusama, the upgrade is geared towards increased LP token value for users and to benefit the yield farmer community. To achieve this, it will utilize part of the transaction fees to improve the value of liquidity pools (LPs) in swap transactions.
Revealing more details, the press release stated that the SHIB team is focused on facilitating high-speed transactions with minimal gas fees and transforming the user experience in the Shibarium blockchain space, in order to make Shibarium a community-first and environment-friendly consensus mechanism.
DEX is the New Way to Go
The recent regulatory scrutiny and challenges faced by centralized exchanges (CEXes) underscore the importance of decentralized alternatives and necessitate more development in this regard. With governments increasing their focus on regulating centralized exchanges due to concerns over security, money laundering, and investor protection, decentralized exchanges (DEXes) serve as a vital alternative that aligns with the principles of decentralization and user empowerment.
LeoDex, developed by the INLEO team is one of such emerging DEXes designed to serve a multi-chain interface, premiering from the Hive blockchain with linkages to Maya protocols.
By embracing DEX platforms, users can mitigate the risks associated with centralized control and regulatory intervention. Furthermore, the decentralized nature of DEXes fosters innovation, resilience, and inclusivity within the cryptocurrency ecosystem. This move by the SHIBarium community is a worthy one.
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Thank you for sharing this exciting update about ShibaSwap and its new features on the Shibarium blockchain. The launch of ShibaSwap on Shibarium, alongside its presence on Ethereum, indeed marks a significant milestone for the $SHIB ecosystem.
The major upgrade brings several new utilities to the decentralized exchange, enhancing its appeal and functionality for users. The introduction of an enhanced dashboard and improved user experience are crucial steps in making the platform more accessible and user-friendly. Discovery charts for trending tokens are another valuable addition, providing users with real-time insights and helping them make informed decisions in the volatile crypto market.
Each development in the decentralized world is a plus and an open door to more adoption.
Wow this is brilliant. Thanks for this detailed Awareness you have created about Shibaswap DEX.
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