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Shiba Inu (SHIB) Developer Makes Important Statement on ShibaSwap: Details

Sat, 03/04/2023 - 15:41
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Tomiwabold Olajide
ShibaSwap was introduced in July 2021
Shiba Inu (SHIB) Developer Makes Important Statement on ShibaSwap: Details
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Lead Shiba Inu developer Shytoshi Kusama has once again updated his Twitter bio. This time, he makes an important statement on ShibaSwap, the ecosystem's decentralized exchange (DEX).

Kusama reiterates to users that ShibaSwap is the official DEX of Shibarium. His Twitter bio reads: "Top Shib community member. NFA DYOR But... whispers... Shibaswap is the official DEX of Shibarium. You probably already knew that because you're one smart pup."

The same was reiterated by the Shiba Inu developer who goes by the name ShibDev4Evr @kaaldhairya on Twitter. The SHIB developer says in a tweet that ShibaSwap is the only "official" DEX of Shibarium.

He cautions users that any projects that say otherwise are probably scams. He continues, "Please do DYOR." The word DYOR means "do your own research."

ShibaSwap, which was introduced in July 2021, has many of the same characteristics as Uniswap and other decentralized exchanges, such as token swapping and liquidity pools, with the addition of extra features like staking and governance.

ShibaSwap to be integrated into Shibarium

According to a blog post, Shibarium has intentions of integrating ShibaSwap into the platform for faster access to tools and services and to give users and validators/delegators quick access to all staking and liquidity pools. This would be part of the protocol's mainnet launch.

It is also anticipated that the imminent introduction of the TREAT token would encourage these pools and provide users with lower network fees and better incentive schemes.

Shiba Inu (SHIB) Lead Dev Shares Fascinating Facts on Shibarium, Here's What To Know

In the meantime, the Shibarium protocol has chosen BONE as its native token to reward validators and delegators and to pay for gas transactions.

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About the author

Tomiwabold is a cryptocurrency analyst and an experienced technical analyst. He pays close attention to cryptocurrency research, conducting comprehensive price analysis and exchanging predictions of estimated market trends. Tomiwabold earned his degree at the University of Lagos.