Home CryptoNews ShibaSwap, SHIB’s DEX, Blasts Past $1.53B in Day Two

ShibaSwap, SHIB’s DEX, Blasts Past $1.53B in Day Two

Shiba is still record-breaking, and it seems the new meme ecosystem aims to grow faster than all others. The newly-launched ShibaSwap surpassed the 1 Billion dollars threshold in just two days and now has a TVL of more than $1.53B.

It seems users and traders still trust the new meme ecosystem and plan to use its products for trading, swapping, and even staking. ShibaSwap provides common DEX services and aims to grow the ecosystem even faster in the coming days.

Meme Themed Services on the Rise

Dogecoin was the first cryptocurrency to introduce the meme theme in the industry. It gained attraction through the years and was one of the most discussed coins in the last months. Many tokens emerged in the past months following the DOGE cryptocurrency, and some of them were very successful. Shiba is one of the coins that follows the Dogecoin concepts and experiences a major breakthrough in the first days and weeks of launch.

Shiba is different from most of the meme-themed tokens. It doesn’t limit the offerings to a token but has various services and products that serve various parts of the industry. Although the SHIB token experienced considerable growth in the first days of launch, it lost value in the recent market crash considerably. But the ecosystem isn’t shrinking, and there are still many users that believe in the Shiba Inu ecosystem.

The most important offering of the Shiba is a DEX platform that aims to grow with the help of the community (like its other products). ShibaSwap is a platform for trading, swapping, staking, and farming tokens. These services can find new customers through community promotions and alternative services that may be interesting for newcomers. The latest data about this swapping service shows that more than $1.53B is now locked in the platform. The DEX launched just two days ago, and this breakthrough shows another record for the Shiba ecosystem.

ShibaSwap uses Ethereum as the main blockchain and supports ERC20 tokens. Some experts predict the platform may launch other versions on blockchains like Polygon, BSC, and even Polkadot. The current platform supports famous wallets like MetaMask, WalletConnect, and Coinbase Wallet. 

The name of the services on ShibaSwap has doggy concepts. For example, the liquidity-providing section is named DIG. Other services are named FETH, BURY, BONEFOLIO, WOOF, and SWAP, which only the latter doesn’t have dog-themed named. The Shiba ecosystem has three native tokens that each one has a unique use case in the platform. SHIP, LEASH, and BONE are the native tokens in the ecosystem.


If you found this article interesting, here you can find more Blockchain and cryptocurrency news

Mehdi Zare
I am a young father who always loves to learn. Security and privacy topics are my main interests, and so, blockchain as one of the most strong security and privacy solutions of the modern industry excites me too.
- Advertisment -
#NamePriceChanges 24H