Shiba Inu Team Working on ShibaSwap 2.0, Here’s What You Need to Know

Paigambar Mohan Raj
Shiba Inu Mobile Phone
Source: Twitter

Shiba Inu (SHIB) community member “Ragnar” shared a message on the Shibarium Telegram channel that the team was working on a new version of ShibaSwap. ShibaSwap is a decentralized exchange (DEX) for the SHIB ecosystem. However, the message stated that before being released, ShibaSwap 2.0 will need a fresh security evaluation from CertiK. Ragnar said that once the audit is complete, they “will be closing many fudders’ mouths.

Source: Telegram

What features will Shiba Inu’s Shibaswap 2.0 have?

Eric M, the developer behind ShibaSwap, claimed that the new version will have fresh, enhanced designs. The new DEX will also have a crypto portal. The portal will serve as a platform for graphs, statistics, news, and trends. However, it is not clear whether the portal will solely post items pertaining to Shiba Inu or the broader cryptocurrency market.

Nonetheless, like with other Shiba Inu (SHIB) products, the team has not revealed a launch date. ShibaSwap’s original version, which contains numerous intriguing features found in leading DEXs like Uniswap, is still operational and working well.

With ShibaSwap, users can exchange any token from the Shiba Inu ecosystem without the use of a third party. Additionally, users can stake each token from the SHIB ecosystem on ShibaSwap. It has a specific non-fungible token (NFT) market for THE SHIBOSHIS, SHIB’s NFT collection. With a 24-hour trading volume of $1.97 million, ShibaSwap is the 55th-largest decentralized exchange.

With SHIB’s upcoming layer-2 network, Shibarium, right around the corner, the entire SHIB ecosystem seems to be getting an overhaul. The team recently opened pre-orders for its cold wallet storage solution as well. With so many products in development, SHIB is trying to rid itself of the “memecoin” tag. If the releases go as planned, the project might just become successful in its objective.

On the other hand, rival memecoin projects are currently lagging in terms of real-world use cases. Fans and users anticipate the launches to propel SHIB’s price to new heights. At press time, SHIB was trading at $0.00000903, up by 2.3% in the last 24 hours.