Shiba Inu Officially Launches Shibaswap, Ready To Compete With Uniswap And Sushiswap

Shiba Inu officially launches Shibaswap (Shibaswap.com Screenshot)

JAKARTA – Shibaswap fans have been waiting for the Shiba Inu (SHIB) crypto asset in recent weeks. Developer Shiba Inu is rumored to have launched the decentralized trading platform (Dex) Shibaswap on July 6.

The Shibaswap decentralized trading platform is built on the Binance Smart Chain Mainnet network. A number of popular Dex also use BSC, namely Uniswap, Sushiswap, and Pancakeswap.

With the presence of Shibaswap, the SHIB token has advantages over other dog coins such as Dogecoin (DOGE) and Baby Doge Coin (BABYDOGE). In the first 24 hours since its launch, Shibaswap has managed to collect 1.46 billion US dollars in Total Value Locked (TVL) based on data from its official website.

Launching Bitcoin.com News, the total locked value continues to increase, on Thursday alone TVL Shibaswap rose to 1.55 billion US dollars. But the increase did not last long, data from Coingecko said that the SHIB decreased 7.9 percent in the past week.

[/see_also]

- https://voi.id/technology/58093/koin-shiba-inu-mau-uji-coba-platform-shibaswap

- https://voi.id/technology/55353/3-hal-yang-obligatory-known-before-buying-token-shiba-inu

- https://voi.id/technology/57106/mau-beli-dogecoin-atau-shiba-inu-begini-perbandingan-both

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However, statistics in the two weeks of SHIB show an increase of 18.8 percent. Data in one month shows that SHIB has increased by 6.2 percent.

In addition, the Shiba Inu token developer also created other tokens named Leash (LEASH) and Bone (BONE). The two new tokens are used for different purposes. Bone, for example, is used as a reward for liquidity providers at Shibawap.

Initially the Leash token was intended as a rebase token pegged at the price of Dogecoin (DOGE). However, now the Leash token has been "released" and is no longer a rebase token. The current supply of Leash is only 100,000 tokens. This is inversely proportional to the SHIB amounting to 497 trillion circulating in the market.

However, Shibaswap contracts and SHIB transfers are subject to high costs. ETH fees to SHIB have been even higher since the platform was launched. The transaction fee was recorded since the first launch of 3 US dollars before the launch of Shibaswap to 6.72 US dollars per transaction on 7 July 2021, the day after its launch on 6 July.