ShibaSwap DEX: Embracing Shibarium and Launchpad Features

Exciting developments are underway for ShibaSwap as it prepares to integrate Shibarium, enhancing transaction speed and cost-efficiency.

This move will not only foster the use of various DeFi activities but also introduce a new launchpad, positioning ShibaSwap as a forefront player in the evolving cryptocurrency landscape.

ShibaSwap Expands to Shibarium: A Significant Enhancement

On April 27, 2024, the marketing leader of Shiba Inu (SHIB), known as Lucie, announced that ShibaSwap, the decentralized exchange (DEX) associated with Shiba Inu, will now support Shibarium, an Ethereum Layer 2 solution.

ShibaSwap, originally launched in July 2021, is an Ethereum-based decentralized finance (DeFi) platform that offers various functions like cryptocurrency swapping (SWAP), staking (BURY), and liquidity provision (DIG).

Until now, transactions on ShibaSwap were conducted solely on the Ethereum network; however, plans to incorporate Shibarium promise to deliver a faster and more cost-effective trading environment.

The Advantages of Shibarium Integration

Shibarium, unveiled in August 2023, employs the SHIB-related token "BONE" as its gas token and features a mechanism where a portion of fees collected from each on-chain transaction contributes to the "burning" of SHIB.

This shift is expected to facilitate easier and more affordable usage of ShibaSwap's features due to the reduced transaction fees, currently around 0.00053 BONE.

Furthermore, an increase in transactions on Shibarium-powered ShibaSwap could accelerate the SHIB burn process, potentially leading to a decrease in SHIB's circulating supply and an increase in its price.

Introduction of Launchpad and Other Exciting Features

According to Lucie, the new Shibarium-powered ShibaSwap will introduce several innovative services. These include the exchange of new tokens on Shibarium, enhanced liquidity pools, unique farming contracts rewarding early adopters and long-term investors, and a new launchpad for discovering tokens.

This launchpad facilitates early purchases of new tokens before they are listed, similar to existing platforms on major exchanges like BINANCE and Bybit.

The integration of this feature in Shibarium's ShibaSwap suggests that users will soon be able to invest in new Shibarium-based tokens through the platform.

Upcoming Release: "ShibaSwap 1.75"

While the exact launch date for the Shibarium version of ShibaSwap remains undisclosed, Lucie hinted in a post on April 28 that "ShibaSwap 1.75 based on Shibarium" is set to be released soon.

This is part of a broader strategy to transition ShibaSwap into a "multi-chain compatible DEX" that supports both Ethereum and Shibarium networks, allowing users to switch networks and manage their cryptocurrencies more flexibly.

ShibaSwap to be a "Multi-Chain Enabled DEX"

LUCIE explained that on April 29, 2024, ShibaSwap "will become a multi-chain enabled decentralized exchange" that will support both Ethereum and Shibarium.

In a previous announcement, it was reported that "we will move from Ethereum to Shibarium," but to be precise, "we will support Shibarium in addition to Ethereum.

After multi-chain support, it is expected to be able to switch between Ethereum and Sybarium networks to exchange and operate virtual currencies on both networks.

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