The Shiba Inu Token Burn Rate Accelerates with the Launch of ShibaSwap 2.0 on Shibarium
ShibaSwap 2.0 has officially launched on Shibarium, bringing new features such as liquidity pools and token swapping to the popular memecoin platform. According to Shiba Inu developer Shytoshi Kusama, these updates represent „the newly designed core“ of Shibarium.
The migration of ShibaSwap to Shibarium offers users several exciting new features, including the ability to create new liquidity pools, swap tokens within the network, and earn fees for providing liquidity. Other notable changes include discovery charts for emerging and trending tokens, as well as the addition of new assets to ShibaSwap.
The developers behind Shiba Inu claim that this new strategy will increase the value of LP tokens while benefiting the wider yield farming community. Encouraging users to try out the new swap and seamlessly migrate existing Shibarium tokens, Kusama described ShibaSwap 2.0 as „the newly designed heart of a freshly forked Shibarium.“ He went on to emphasize its role in promoting community tokens, stating:
„Rest assured that this new user experience is still an early version of ShibaSwap, with further updates on the way.“
As ShibaSwap finds its new home on Shibarium, the number of transactions on the layer-2 network has surged. This increased activity has accelerated the rate at which SHIB tokens are burned, reducing the circulating supply and potentially driving up the price. With various methods previously explored by the team to boost the burn rate, the integration of ShibaSwap could significantly impact this aspect of the project.
The Shiba Inu community remains optimistic regarding these developments, with the price of SHIB increasing by 2.8% over the past 24 hours and the governance token of ShibaSwap, BONE, rising by 4.7%. However, potential investors should always conduct their own research and consult with a financial advisor before making investment decisions based on this information.
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