ShibaSwap, the decentralized exchange (DEX) platform developed by Shibarium, has released its latest upgrade to enhance liquidity provision. The developers of the popular dog-themed memecoin, Shiba Inu (SHIB), are constantly working on improving the performance and user experience of the SHIB ecosystem. In their most recent update, they introduced ShibaSwap 2.0, a significant improvement over the previous version.
Lucie, the Marketing Lead for Shiba Inu, has highlighted the key functions and features of ShibaSwap 2.0 in a recent post. ShibaSwap is a DEX that enables users to easily swap tokens, provide liquidity, and stake in the Shiba Inu ecosystem.
Lucie revealed the important technical details and implications of the new upgrades in ShibaSwap 2.0. She mentioned that the SHIB community eagerly awaited the release of ShibaSwap 2.0, and the enhancements were made based on user feedback.
Key Technical Facts of ShibaSwap 2.0:
1. Release Background:
– ShibaSwap V2 was highly anticipated by the Shib community.
– Developed based on user feedback and focused on improving DeFi accessibility.
2. Previous ShibaSwap (V1) Functions (since July 2021):
– Basic features like token swaps, liquidity provision (“Digging”), and staking (“Burying”).
– Rewards tracking tool called Bonefolio, which required liquidity withdrawal to claim.
The new version of ShibaSwap emphasizes improving accessibility to decentralized finance (DeFi). Lucie then explained the main difference between ShibaSwap 1.0 and ShibaSwap 2.0. The first version, launched in 2021, had basic features like token swaps, liquidity provision, and staking. It also included the Bonefolio rewards tracking tool, which required liquidity withdrawal to claim rewards.
However, with ShibaSwap 2.0, users can now claim rewards without withdrawing liquidity. This upgrade allows for concentrated deposits, enabling liquidity providers to set price ranges, thus increasing capital efficiency and optimizing returns. Another important upgrade is the introduction of Multi-Hop Swaps, which supports complex transactions involving multiple pairs.
ShibaSwap 2.0 also includes other key upgrades such as transparent Annual Percentage Rates (APRs) and variable fee tiers. The transparent APRs display the APRs for both V1 and V2 pools, enhancing user transparency. The variable fee tiers consist of three options (0.05%, 0.30%, 1.00%), providing users with choices based on their risk tolerance and market projections.
With ShibaSwap 2.0, liquidity providers can now select specific price ranges for their capital to be active and earn fees. If prices move outside the set range, liquidity becomes temporarily inactive. Additionally, the upgrade maintains traditional liquidity provision across the full price spectrum for users who prefer a passive approach.
Looking ahead, Lucie mentioned that the team plans to further upgrade ShibaSwap to version 3 (V3) in the future. Some of the planned features include limit orders, price alerts, and a more user-friendly interface. They are also considering concepts like smart swap contracts and Dollar-Cost Averaging (DCA).
ShibaSwap 2.0 represents a shift towards strategic liquidity provision and targeted earnings. It positions the platform as a competitive DeFi tool with advanced user control and improved functionality. As previously reported, ShibaSwap now operates across both the Ethereum and Shibarium platforms, thanks to a recent integration. This integration enhances ShibaSwap’s capabilities by introducing features like an improved dashboard.