ShibaSwap Integrates with Shibarium for Enhanced Trading and Liquidity
Table of contents
Boosted SHIB Token Burn Rate
With the integration, ShibaSwap users can now create new liquidity pools and earn fees by providing liquidity. This increased activity on the Shibarium blockchain is expected to significantly raise the burn rate of SHIB tokens. Higher transaction volumes on Shibarium will lead to more base gas fees being burned, reducing the circulating supply of SHIB tokens and potentially driving up their value. The SHIB token price has already seen an 8.8% increase in the last 24 hours, correlating with a general market uplift measured by the CoinDesk 20 Index (CD20), which saw a 7% rise.
Liquidity Pools and User Benefits
ShibaSwap’s move to Shibarium allows traders to optimize their strategies by leveraging the benefits of both blockchains. Users can now float new liquidity pools (LPs) on Shibarium, facilitating token swaps and earning a portion of trading fees. As of Thursday, ShibaSwap held over $25 million in locked tokens and recorded $1.7 million in trading volumes over the past 24 hours.
Improved User Experience
In addition to enhanced functionality, ShibaSwap has simplified its user interface to ensure a seamless experience for all decentralized finance (DeFi) processes. This user-friendly design aims to attract more users and increase transaction volumes, further benefiting the ecosystem.
Community and Ecosystem Growth
Developers highlighted the importance of community participation in growing the ShibaSwap ecosystem. Every swap and stake on the platform contributes to higher trading volumes, generating more fees for stakers and LP providers. As the ShibaSwap community continues to expand, the protocol is set to benefit from increased engagement and utility.
By harnessing Shibarium’s capabilities and Ethereum’s security, ShibaSwap is poised to offer its users a powerful and efficient trading platform while contributing to the ongoing growth and sustainability of the SHIB ecosystem.