Shiba Inu Ecosystem Migrates Its Native Decentralized Exchange To Shibarium

According to CryptoPotato, the Shiba Inu ecosystem is transitioning its native decentralized exchange to Shibarium, launching ShibaSwap 2.0. This decentralized exchange (DEX) will now be operational on both Ethereum and Shibarium, the layer 2 blockchain of the SHIB ecosystem, which is designed for scalable, fast, and affordable transactions. ShibaSwap 2.0 will introduce new features such as enhanced user processes for adding and reducing liquidity, staking, and trend analysis. It will also include discovery charts for new and trending tokens and facilitate the integration of new tokens into the ShibaSwap market. A portion of the transaction fees will be paid out to liquidity providers, thereby increasing the value of their LP tokens used in swap transactions. Shiba Inu Lead Developer Shytoshi Kusama stated that ShibaSwap 2.0 is the 'redesigned beating heart of a freshly forked Shibarium, where community tokens can flourish.' He also mentioned that this new user experience is still an early version of Shibaswap, with more updates planned for the product. The Shibarium network has now recorded over 400 million transactions. Last month, developers introduced Fully Homomorphic Encryption (FHE) to the SHIB blockchain ecosystem, a technology aimed at enhancing user privacy. The price of SHIB increased by 3% on Wednesday, in line with Bitcoin (BTC). Concurrently, BONE, the governance token of the ShibaSwap exchange, saw a 7.6% increase.