ShibaSwap 2.0 has introduced concentrated liquidity and multi-hop swaps, aiming to enhance user control and transaction efficiency on Shibarium.
Shiba Inu’s ShibaSwap 2.0 is focused on increasing DeFi accessibility for users through transparency with APR tracking and flexible fee tiers.
The release of ShibaSwap 2.0 marks an improved version of the decentralized exchange (DEX) offered by Shiba Inu. The latest version aims to enhance user experience and increase activity on the Shibarium network.
Lucie, Shiba Inu’s Marketing Lead, highlighted the improvements designed to make decentralized finance (DeFi) more accessible to users.
Here’s what’s new and improved in ShibaSwap 2.0:
1. Enhanced Liquidity and Simplified Staking:
ShibaSwap 2.0 keeps important components such as token swaps, liquidity provision, and staking, while introducing major changes. Concentrated liquidity allows providers to choose specific price ranges for maximum capital efficiency, maximizing returns. Additionally, a simpler staking mechanism has been implemented, allowing liquidity suppliers to claim their benefits without having to withdraw money.
2. Multi-Hop Swaps:
Users can now easily conduct complex transactions across multiple trading pairs using multi-hop swaps.
3. Increased Transparency and Future Plans:
ShibaSwap 2.0 emphasizes transparency by allowing users to view annual percentage rates (APRs) for both V1 and V2 liquidity pools. Additionally, users have the option to choose from three fee levels (0.05%, 0.30%, and 1.00%) based on their trading approach, risk tolerance, and market view. Future plans for ShibaSwap V3 include features such as price notifications, limit orders, a simpler UI, smart swap contracts, and dollar-cost averaging (DCA).
The update is intended to drive more activity on the Shibarium network, where ShibaSwap currently ranks as the top decentralized exchange, according to DeFiLlama. With a 23,000% increase in transactions, the network has already seen a significant rise in activity. Meanwhile, SHIB is currently trading at about $0.00001706, showing a 1.06% increase over the last 24 hours.