Hassan Maishera
SHIB, a leading ecosystem of decentralized finance (DeFi) cryptocurrencies, announced on April 30th, that it has moved its decentralized exchange ShibaSwap to the Shibarium blockchain, migrating from Ethereum.
In a press release shared with Cryptowisser, the team said this latest development is designed to empower creators, foster connections, and drive innovation on Shibarium.
The decentralized exchange is set to offer various new DEX and decentralized app (Dapp) utilities. Some of its offerings include;
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Attracting new tokens that will become native to ShibaSwap
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Enhanced liquidity pools and decentralized finance (DeFi) features
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Innovative farming contracts designed to incentivize early adopters and long-term investors
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Extra discovery location for token launches
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Token voting contests with rewards
The incentivization of purchases and exchanges on ShibaSwap will ensure a robust trading volume on the decentralized trading platform. This will make ShibaSwap become the go-to platform for community token transactions within Shibarium.
While commenting on this migration, Shiba Inu Lead Developer known as Shytoshi Kusama, said,
“The new ShibaSwap aligns with innovators seeking an outlet for their creative endeavors and Shibizens who value fostering a vibrant and inclusive community. It’s the beating heart of Shibarium, where community tokens flourish. Imagine a vibrant marketplace teeming with unique tokens representing your favorite projects, causes, and fellow ShibArmy members.”
The Shibarium blockchain uses the Proof of Participation (POP) mechanism, allowing it to focus on facilitating high-speed transactions with minimal gas fees. Shibarium also supports the other growing segments of the Shiba Inu Ecosystem, including the $SHIB and $LEASH tokens, SHIBOSHI NFTs, SHIB The Metaverse, the ShibaSwap DEX, and the Shiba Eternity game.
SHIB is a 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.
