- ShibaSwap 2.0 is set to release soon, with details yet to be revealed.
- Shiba Inu’s Shibarium layer-2 solution for faster and cheaper transactions is registering an impressive surge in adoption rate.
Shiba Inu, the popular meme-inspired cryptocurrency, has been making waves in the decentralized finance (DeFi) space. Recently, the project lead, Shytoshi Kusama, hinted at the upcoming release of ShibaSwap 2.0, a decentralized exchange (DEX) that allows users to trade various cryptocurrencies with a focus on the Shiba Inu ecosystem tokens – SHIB, LEASH, and BONE.
— SHIB World🔥 🚀 (@SHIB__World) April 16, 2023
Although the specific details about the upgrade have not yet been disclosed, the community is eagerly anticipating the new features and improvements in the upgraded platform.
ShibaSwap has quickly gained traction in the DeFi space since its launch in July 2021. With its user-friendly interface and unique features like liquidity provision and staking, the platform has garnered a dedicated user base.
The upcoming ShibaSwap 2.0 upgrade is expected to bring a range of enhancements and innovations, including improved security measures, faster transaction speeds, and expanded token support. This is expected to further solidify Shiba Inu’s presence in the ever-growing DeFi space.
But Shiba Inu’s progress extends beyond just ShibaSwap. The project has experienced several noteworthy developments in recent months, including the release of the beta version of the Shibarium layer-2 solution for faster and cheaper transactions.
Shibarium is the layer-2 solution for the Shiba Inu ecosystem and has been registering an impressive surge in adoption rate, as observed in the metrics of its testnet, Puppynet. Notably, the total number of wallets on Puppynet has increased by a massive 86% in just two days, exceeding 5 million.
The Shibarium testnet currently boasts 5,833,832 wallets, marking an impressive 86% increase in just two days. Puppynet has welcomed 2.7 million wallets within the past two days. Additionally, the transaction count has increased by 9.5% to the current total of 3.2 million transactions, while the total blocks have surged to 374,945. The impressive feats achieved by the test network in terms of adoption rate are a testament to the community’s interest in the project.
It’s worth mentioning that data suggests the network is currently undergoing an indexing process, and some counts may be inaccurate. However, if Puppynet’s current pace remains sustained, the Shiba Inu community could witness a surge to 6 million wallets before the end of the week.
Shiba Inu’s progress in the DeFi space and the impressive adoption rate of Shibarium are indicative of the project’s potential. While the cryptocurrency market can be volatile, Shiba Inu’s community continues to grow, and the project’s developers continue to innovate. With the upcoming ShibaSwap 2.0 upgrade and continued development on Shibarium, Shiba Inu is poised to continue making strides in the DeFi space.
In conclusion, Shiba Inu has come a long way since its inception as a meme-inspired cryptocurrency. The project’s dedication to innovation and community building has led to impressive developments like ShibaSwap and Shibarium.
The upcoming ShibaSwap 2.0 upgrade and the continued adoption of Shibarium on the testnet are just a few examples of the project’s potential in the DeFi space. As the cryptocurrency market continues to evolve, it will be interesting to see how Shiba Inu and its community grow and adapt to these changes.