ShibaSwap, a decentralized exchange (DEX) with direct alignment to the Shiba Inu (SHIB) ecosystem, announced the release of a major update, which implements a change to the Shibarium blockchain.

As a statement, released on May 16, explained, the move aims to offer a “variety of new decentralized exchange utilities and decentralized applications (DApp)” to users. With this, the DEX can now be used on both Ethereum and Shibarium. “The move is the definitive upgrade for ShibaSwap, empowering creators, fostering connections, and driving innovation on Shibarium.”

According to the release, ShibaSwap, powered by Shibarium, will offer a variety of new utility DEXs and Dapps, including: An all-new and improved dashboard and enhanced user processes; New and trending token discovery charts to help traders navigate market volatility and madness; The integration of new tokens on ShibaSwap.

As the developers explained, part of the transaction fee portion will be used to increase the value of LPs used in the swap transaction, resulting in an increase in the value of LP tokens for users. The lead developer of Shiba Inu known as Shytoshi Kusama commented on the new feature in the ecosystem.

“The new ShibaSwap empowers DEFI innovators looking for the next big thing on Shibarium to find, exchange and interact with community tokens in a whole new way! It is the redesigned beating heart of a newly forked Shibarium where community tokens can flourish. We invite the community to try out our new swap and invite current Shibarium tokens to migrate to our swap with ease. Finally, rest assured, this new UX is still an early version of Shibaswap, with more updates in progress for the product,” he said.

At the time of publication, the Shiba Inu price was quoted at US$0.00002515, up 6.1% in the last 24 hours. During this period, the cryptocurrency recorded a trading volume of US$946,524,013. SHIB has appreciated 12.1% in the last seven days.


The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.


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