ShibaSwap, the decentralized exchange (DEX) linked to the <a href="https://www.cryptoknowmics.com/news/shiba-inu-nears-key-resistance-levels-amid-whale-activity/" target="_blank" rel="noopener">Shiba Inu</a> (SHIB) cryptocurrency, has launched on the Shibarium blockchain. Shibarium, an Ethereum layer 2 solution developed by the SHIB token team, promises greater scalability and cost-efficiency while maintaining Ethereum’s robust security.
<h2>Boosted SHIB Token Burn Rate</h2>
[embed]https://twitter.com/Shibtoken/status/1790792323288178908[/embed]

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.
<h2>Liquidity Pools and User Benefits</h2>
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.
<h2>Improved User Experience</h2>
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.
<h2>Community and Ecosystem Growth</h2>
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.

<em><strong>Disclaimer: </strong></em>The views and opinions expressed in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

ShibaSwap Integrates with Shibarium for Enhanced Trading and Liquidity

ShibaSwap expands to Shibarium blockchain, boosting SHIB token burn rate and offering users new liquidity opportunities and seamless DeFi experience.

Sujit received his Bachelors in Science from the LNMU Darbhanga. He is currently working as a Content Strategist. He has more than three years of professional experience in information systems, security policies, technologies, and Cryptocurrency. He has published 6 books in the area of information security and assurance. He has published more
than 50 research articles in leading journals Regarding the Latest and Breaking Crypto News and updates. His research interests include access control, computer forensics, Digital Marketing, Web development, business hacks, player experience, and virtual storytelling.

ShibaSwap Integrates with Shibarium for Enhanced Trading and Liquidity

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