- The Shiba Inu team claims that the ShibaSwap would inspire its community to be innovative.
- An increase in the volume of transactions processed on Shibarium will result from the integration.
Just recently, the Shiba Inu (SHIB) team announced the release of ShibaSwap on Shibarium, a solution for layer-2 scaling, much to the delight of its community.
With the release of ShibaSwap on Shibarium, the much-anticipated platform for the Shiba Inu ecosystem, the project has entered a new phase of rapid expansion. A Decentralized Exchange (DEX) is the backbone of any large-scale blockchain protocol or Layer 2 network.
Switching to Shibarium is a huge endorsement of the latter, even if ShibaSwap was first established in 2021 on the Ethereum network. Shibarium is yet to get a prominent decentralized app to act as its main application, even though it was launched in August 2023. The story has evolved with ShibaSwap.
Increased Volume of Transactions on Shibarium
The Shiba Inu team claims that the ShibaSwap would inspire its community to be innovative by providing a platform for them to do so. Liquidity Pools (LPs) on Shibarium may be created by users on ShibaSwap. Most notably, ShibaSwap on Shibarium now allows users to trade L2 network tokens for Ethereum and vice-versa.
The protocol also made note of the fact that customers may bet on ShibaSwap in addition to these main trading functionalities. In order to keep the whole SHIB ecosystem running, these stakes are crucial.
An increase in the volume of transactions processed on Shibarium will result from the integration. This function in particular has the potential to greatly accelerate the pace at which newly issued tokens will be burned and removed from circulation. The game could alter as we wait for the burn gateway to open, thanks to the ShibaSwap-induced transaction surge.
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