As a seasoned crypto investor with a deep interest in the Shiba Inu ecosystem, I’m genuinely excited about the recent upgrade of ShibaSwap from Ethereum to the Shibarium blockchain. The new features and utilities mentioned in the press release, such as an improved user experience, discovery charts for new and trending tokens, and a new dashboard, are all compelling reasons for me to keep a close eye on this project.
ShibaSwap, part of the Shiba Inu universe, has implemented a significant update, transitioning from Ethereum to its own Shibarium blockchain for enhanced operations as a decentralized exchange (DEX).
Based on a recent announcement, this change is expected to introduce a range of novel functionalities for decentralized exchanges and decentralized applications (DApps) for the users.
In simpler terms, the announcement unveiled a fresh dashboard design, enhanced platform usability, and introduced “discovery charts” for exploring emerging and popular cryptocurrencies within the decentralized exchange (DEX). Additionally, it outlined the procedure for listing new tokens on the DEX.
Shiba Inu (SHIB) lead developer, Shytoshi Kusama commented on the upgrade, stating:
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.
In the course of an upgrade, a portion of the transaction fees will be allocated towards enhancing the liquidity pools (LPs) in swap transactions. Consequently, the value of LP tokens held by users is expected to rise, bringing about advantages for yield farmers within the community.
Relate: Over 1 million new crypto tokens have been launched since April
As a fellow crypto investor and follower of the Shiba Inu (SHIB) project, I’m excited to share that Kaal, an anonymous SHIB developer and contributor, recently announced some upcoming changes on their X platform. According to Kaun, this rollout will primarily focus on exploration and discovery, with more enhancements and upgrades anticipated in the future.
Based on the announcement, this update prioritizes reducing transaction fees and ensuring swift transaction processing.
Shibarium also 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.
In August 2023, the L2 Shibarium mainnet became active, marking its launch with the generation of approximately 21 million wallets. A vast number of users tested it out during this initial phase. The novel consensus mechanism called proof-of-participation (PoP) was introduced at the debut. With PoP, validators are chosen based on their possession of the linked cryptocurrency.
As I pen down these words, Shiba Inu’s price stands at an impressive $0.0002548 on the digital currency market – marking a nearly 7% surge in value within the past twenty-four hours. Notably, Shiba Inu maintains its position as the eleventh largest cryptocurrency by market capitalization, according to current data from CoinMarketCap.
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2024-05-16 12:53