May 22, 2024
Altcoins News

ShibaSwap Upgrades to Shibarium Blockchain

Major Upgrade Announcement

ShibaSwap, the decentralized exchange (DEX) within the Shiba Inu ecosystem, has announced a significant upgrade by transitioning to the Shibarium blockchain. According to a recent press release, this move will enhance decentralized exchange and decentralized app (DApp) utilities for its users.

New Features and Enhancements

The upgrade introduces several new features, including an improved dashboard, an enhanced user experience, and discovery charts for new and trending tokens. The onboarding process for new tokens on the DEX has also been streamlined. Shiba Inu’s lead developer, Shytoshi Kusama, commented on the upgrade, stating it empowers DEFI innovators on Shibarium to interact with community tokens in novel ways.

Benefits for Liquidity Pools and Users

This update will use part of the transaction fees to bolster the value of liquidity pools (LPs) in swap transactions, benefiting users and the yield-farming community. Pseudonymous SHIB developer Kaal highlighted that the upgrade focuses on discovery and promised regular updates and improvements. Additionally, the upgrade aims to reduce gas fees and accelerate transaction times.

Supporting the Shiba Inu Ecosystem

Shibarium continues to support other segments of the Shiba Inu ecosystem, including $SHIB, $LEASH tokens, SHEboshis DN-404 tokens, SHIB The Metaverse, ShibaSwap DEX, and the Shiba Eternity game. Since the Shibarium mainnet’s launch in August 2023, it has seen the creation of 21 million wallets and introduced a proof-of-participation (PoP) consensus mechanism.

SHIB’s Rank and Future Prospects

Currently, SHIB’s price stands at $0.0002548, reflecting a nearly 7% increase in the last 24 hours and ranking as the 11th-largest market cap, according to CoinMarketCap. This upgrade marks a pivotal step for ShibaSwap and the broader Shiba Inu ecosystem, promising enhanced functionality and user experience on the Shibarium blockchain.

Image by catalyststuff on Freepik

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