ShibaSwap Officially Supports Shibarium: Transforming into a Multi-Chain DEX

Discover ShibaSwap's exciting expansion to support the Shibarium network, enhancing user experience with faster and more cost-effective trading options.

This update signifies a pivotal evolution in ShibaSwap’s offerings, ensuring users can engage more dynamically within the crypto ecosystem.

ShibaSwap Expands Its Ecosystem with Shibarium Integration

On May 16, 2024, the team behind Shiba Inu (SHIB) announced that ShibaSwap, their decentralized exchange (DEX), has officially started supporting Shibarium.

Launched in July 2021, ShibaSwap allows users to connect self-managed wallets to trade various tokens and earn rewards by providing liquidity.

Shibarium: A High-Performance Layer-2 Blockchain Based on Ethereum

Shibarium, launched by the SHIB team in August 2023, is an Ethereum-based layer-2 blockchain. It is designed to facilitate fast and low-cost transactions.

Additionally, it incorporates a mechanism where a portion of the fees collected from on-chain transactions are allocated to burning SHIB tokens, effectively reducing their overall supply.

With the integration of Shibarium, ShibaSwap now supports three different blockchain networks:

• Ethereum
• Shibarium
• Puppynet (a test network)

New Trading and Liquidity Opportunities on Shibarium via ShibaSwap

The integration of Shibarium into ShibaSwap enables users to trade various tokens on the Shibarium network through the DEX. Users can also create liquidity pools (LP) on Shibarium, depositing Shibarium-based tokens to earn rewards through liquidity provision.

Furthermore, ShibaSwap’s official site includes a Bridge page, allowing users to transfer tokens between the Ethereum and Shibarium networks seamlessly, making it easier to start trading Shibarium-based tokens.

Shibarium's promise of high-speed and low-cost transaction capabilities means that trading can be processed quickly and affordably, and it is expected that this will further accelerate the burning of SHIB tokens.

Future Updates and Features: Launchpad and More

Previous announcements had reported the addition of a 'Launchpad' feature to ShibaSwap, which would allow users early access to new tokens before they are listed. This indicates significant updates may be forthcoming.

The details about ShibaSwap’s support for Shibarium can also be found in the recently published "The Shib: Edition 24."

ShibaSwap’s services are accessible via their official website. However, it's important to remain cautious as there are fake and scam sites detected recently related to upcoming SHIB-related tokens like 'SHI' and 'TREAT'.

>> For the latest SHIB-related news, click here.