ShibaSwap, a DEX linked to the Shiba Inu ecosystem, has successfully migrated to the Shibarium blockchain, a move expected to enhance its users’ trading experience.
According to a press release from the developers, this transition brings a host of new functionalities for decentralized exchange and DApp. Some new features include a redesigned dashboard, improved user experience, discovery charts highlighting new and trending tokens, and a streamlined process for adding new tokens to the DEX.
The upgrade reportedly was done to address critical concerns of the user base, particularly reducing gas fees and enabling faster transactions,
also, following the upgrade, the platform will now allocate a portion of transaction fees to enhance the value of liquidity pools (LPs) in swap transactions, ultimately benefiting users and the yield-farming community.
Moreover, Shibarium’s integration with various components of the Shiba Inu ecosystem, including $SHIB and $LEASH tokens, SHEboshis DN-404 tokens, SHIB The Metaverse, the ShibaSwap DEX, and the Shiba Eternity game, is a significant step towards strengthening the ecosystem, as outlined in the press release.
Lead developer Shytoshi Kusama expressed optimism about the transition and upgrade, stating, “The new ShibaSwap empowers DeFi innovators seeking the next big thing on Shibarium to discover, swap, and engage with community tokens in a completely new manner!”
Kusama claimed that the transition offers users a fresh way to interact with the platform and is just the first in a series of upcoming changes and updates.
Another pseudonymous SHIB developer and contributor, Kaal, posted on X, stating that the upgrade rollout will prioritize discovery. They also mentioned that users should anticipate more frequent updates and upgrades in the future.
“This version is focused on discovery, so all the creative geniuses meme away! We will keep pushing out updates and upgrades on regular basis going forward, also for everyone to remember it’s not a race it’s a marathon”
As of the latest data, the price of SHIB stands at $0.0002548, marking a nearly 7% increase in the past 24 hours. SHIB currently ranks as the 11th-largest cryptocurrency by market capitalization, according to CoinMarketCap.
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