Shiba Inu Coin Plans To Conduct A Trial For Shibaswap Platform

Shiba Inu to Launch Shibaswap (Screenshot, Shibatoken.com)

JAKARTA – Shiba Inu (SHIB) has stolen the public's attention in recent months. In addition to the low price of SHIB, the token has seen an increase of up to 1000 percent in the past. Shiba Inu is rumored to be releasing a platform called Shibaswap soon.

According to a report from Yahoo Finance, recently, Shiba Inu is available on the Uniswap DEX. The coin, dubbed the “Dogecoin Killer”, will launch a new decentralized exchange platform called Shibaswap.

SHIB is also rumored to be the main cryptocurrency on the platform. The developer also stated that the token would be used as an incentive.

For information, DEX is an acronym for Decentralized Exchange or a decentralized exchange of crypto assets. The system is built on blockchain and is considered the most secure crypto trading platform. A number of platforms that provide this service include Binance DEX, Stellar DEX, Bitshares, Waves Platform, and others.

That's why Shiba Inu comes with its DEX platform, Shibaswap. However, Shibaswap is still in the testing phase. DEXs allow people to trade crypto assets directly peer-to-peer, without having to go through third parties as intermediaries.

Based on information from Shiba Inu's official social media, the Shibawap platform is "ready", being tested and audited. Shibaswap is also rumored to have received the "green light" to launch.

On the other hand, the Shiba Inu is said to be used as a means of payment. Previously, the coin had a supply of 500 trillion. Then the developer sent the SHIB to the wallet of the Ethereum boss, Vitalik Buterin.

Massive shipments Vitalik said are for burning. As much as 90 percent of SHIB worth USD 6 billion has been burned. Burning is a term for removing the supply of crypto money.

Vitalik is also reported to have donated a USD 1 billion SHIB for the handling of COVID-19 in India.

In addition, a non-profit organization focused on reducing the “global catastrophic impact of big technology” called the Future of Life Institute has announced a donation of USD 25 million (approximately IDR 356 billion). The Future of Life Institute said the grant could be obtained from "the generosity of cryptocurrency (Ethereum) pioneer Vitalik Buterin and the Shiba Inu community".

Thanks to Buterin's charity work, the Shiba Inu's popularity has skyrocketed. It is also able to encourage crypto investors to buy SHIB. Shiba Inu appears to be following in the footsteps of its predecessor in charity Dogecoin.