Hassan Maishera
SHIB, a world-leading ecosystem of decentralized finance (DeFi) cryptocurrencies, announced on Wednesday, May 15th, that it has migrated its decentralized exchange ShibaSwap to the Shibarium blockchain.
In a press release obtained by Cryptowisser, SHIB said the decentralized exchange will now be usable on both Ethereum and Shibarium. The migration is expected to empower creators, foster connections, and drive innovation on Shibarium.
The DEX will offer dApps several benefits, including,
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A brand new and enhanced dashboard and improved user processes (add/withdraw liquidity, staking, trend analysis, and more)
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Discovery charts for new and trending tokens to help traders navigate the market’s volatility and craziness
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The onboarding of new tokens onto ShibaSwap
SHIB revealed that part of the transaction fees will be used to enhance the value of the LPs used in the swap transaction. This will lead to an increase in the value of the LP tokens for users and benefit yield farmers within the ecosystem.
While commenting on this move, Shiba Inu Lead Developer known as Shytoshi Kusama, said,
"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.”
Developers can build cost-effective protocols on Shibarium, expanding the reach and potential of the ecosystem while enriching the overall user experience. The blockchain supports the other growing segments of the Shiba Inu Ecosystem, including the $SHIB and $LEASH tokens, SHEboshis DN-404 tokens, SHIB The Metaverse, the ShibaSwap DEX, and the Shiba Eternity game.
SHIB is a world-leading ecosystem of decentralized finance (DeFi) cryptocurrencies that has gained popularity among millions of holders worldwide. Its ecosystem of tokens includes $SHIB, $LEASH, and $BONE, plus native SHIBOSHIs and SHEboshi NFTs. SHIB.io utilizes the Shib Ecosystem to power quality technologies including SHIB:The Metaverse and Shibarium, the Layer 2 blockchain providing a solid foundation, scalability, security, and innovation for a decentralized world.
