ShibaSwap, the decentralized exchange (DEX) associated with the Shiba Inu (SHIB) ecosystem, has made a significant upgrade by moving to the Shibarium blockchain. This move brings a host of new features to the platform, including an enhanced dashboard, improved user experience, and the introduction of discovery charts for new and trending tokens.
The upgrade also includes a change in how transaction fees are utilized, with a portion now being used to boost the value of liquidity pools (LPs) in swap transactions. This adjustment aims to increase the value of LP tokens for users, benefiting the yield farming community.
Shibarium, the Layer-2 mainnet launched in August 2023, is designed for fast transactions with low gas fees. It utilizes a community-focused and eco-friendly consensus mechanism, which allows for cost-effective protocol development and expands the ecosystem’s reach.
The price of SHIB currently stands at $0.0000252, with a nearly 6% increase in the past 24 hours. This makes SHIB the 2nd largest memecoin and the 11th largest cryptocurrency by market capitalization.
Overall, the upgrade of ShibaSwap to Shibarium sets the stage for future growth and innovation within the Shiba Inu ecosystem. The enhanced user experience and expanded DeFi opportunities promise to bring new possibilities to the community.
In related news, FLOKI, another Shiba Inu-themed memecoin, has been listed on Revolut Business, making it more accessible to businesses across Europe.
With this upgrade, ShibaSwap is poised to continue its growth and provide a platform for users to engage with the broader Shiba Inu ecosystem. The future looks bright for SHIB and its associated projects on the Shibarium blockchain.
