On May 15, 2024, SHIB announced a massive development in Dubai: integrating its decentralized exchange, ShibaSwap, with Shibarium. The DEX will be available on Ethereum and Shibarium, the project’s Layer-2 scaling solution for rapid and low-cost transactions
According to GlobeNewswire, this strategic move enables ShibaSwap to function on both the Ethereum and supported platforms.
The connection expands ShibaSwap’s capabilities by adding features such as a better dashboard and discovery charts for emerging coins. It also simplifies liquidity management and staking operations. This aims to increase the value of liquidity pool (LP) tokens, help yield farmers, and strengthen the DeFi community.
ShibaSwap 2.0 Live on Shibarium: New Features
ShibaSwap’s transfer introduces various new features. Users can now establish new liquidity pools, swap tokens across the network, and earn fees for providing liquidity. Other major upgrades include discovery charts for new and popular tokens and the onboarding of new assets to ShibaSwap.
The SHIB team claims that the new technique will increase the value of LP tokens, helping the entire yield farming community. Shytoshi Kusama, Shiba Inu’s principal developer, encouraged users to test out the new swap and smoothly migrate existing Shibarium tokens.
Kusama referred to ShibaSwap 2.0 as the “redesigned beating heart of a freshly forked Shibarium,” emphasizing its significance in allowing community tokens to grow.