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SHIB Rep Gives Crucial Reason Why ShibaSwap 2.0 Not Released Yet

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Wed, 15/11/2023 - 13:45
SHIB Rep Gives Crucial Reason Why ShibaSwap 2.0 Not Released Yet
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Shiba Inu's marketing manager, who prefers to keep her name down to just Lucie on social media, has taken to the X platform to clarify for the Shiba Inu army why the ShibaSwap 2.0 has not been launched yet.

The first mention of this major update being in the works was made on the X platform in April this year. The initial version of this decentralized exchange, ShibaSwap, was launched in 2021, and it is the only official DEX of the Layer-2 blockchain Shibarium, according to SHIB lead developer Shytoshi Kusama.

Here's why ShibaSwap 2.0 not available yet, per Lucie

Lucie tweeted that the SHIB team plans to turn ShibaSwap 2.0 into a lot more than a traditional decentralized exchange for crypto. This is attributed to their plans to turn Shibarium into "a sophisticated Decentralized Application (Dapp) that transcends boundaries."

As for Shibarium's design, the SHIB team plans to "weave together a multitude of elements, necessitating a meticulously planned and strategically executed progression across interconnected webs."

For this very reason, they are not rushing to release an updated version of ShibaSwap 2.0 – the team plans to turn it into "a comprehensive platform, going beyond the limitations of a traditional decentralized exchange." Most likely, it remains in the works still.

When ShibaSwap was rolled out in 2021, users got a chance to trade and stake crypto from the ecosystem of Shiba Inu – BONE, LEASH, SHIB. The DEX quickly became popular with the community, and its user base reached a whopping $1 billion in total value locked 24 hours after its launch.

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SHIB stages 7% price increase

Over the last 24 hours, the second largest dog-themed cryptocurrency by market capitalization value, Shiba Inu, has printed a rise of 7.12%, pushing the price from $0.00000802 to the $0.00000860 level.

This was a partial recovery from the massive 15.92% plunge the SHIB price experienced between Nov. 11 and Nov. 14.

In other news, according to IntoTheBlock on-chain analytics data, SHIB has recently experienced a staggering 1,275% spike in large holder netflows; this happened over the past two days since the week started.

The Large Holder Netflows indicator powered by the aforementioned on-chain data source shows changes in the positions of large crypto investors, known in the community as whales.

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