The DEX of the Shiba Inu ecosystem, ShibaSwap, has added three new trading pairs with staking pool capabilities. According to the DEX team, this will be good as it will increase the number of users.
ShibaSwap is the newest decentralized exchange to emerge (DEXs). ShibaSwap, which debuted last week as part of the Shiba Inu ecosystem, allows meme-coin investors to trade and stake several dog-themed cryptocurrencies.
With the goal of being a completely community-driven project, the DEX team has added additional trading pairings to the mix including:
New pairs being added to #shibaswap within the next few hours ETH+USDT, LEASH-BONE, SHIB-BONE #shibarmy
— Shib (@Shibtoken) July 11, 2021
The dev team and “other signers” agreed on the additional trading pairs based on DEX analytics, according to Shiba Inu developer Shytoshi Kusama on Twitter, who has over 123K followers. These additions, according to the team, will:
- The Shiba Inu environment should be rewarded.
- Increase the number of new users
- Increase liquidity for the stablecoin USDT, which will strengthen the DEX and allow for higher rewards.
Users of ShibaSwap will now be able to participate in staking pools for the pairs. The LEASH/BONE pool is currently operational. The other two pools should be up and running soon, according to the team.
Users must deal with ETH costs while joining the LEASH/BONE pool, or any other pool on ShibaSwap for that matter because the project is founded on Ethereum.
The BONE token is intended to be a store of value asset in the Shiba Inu ecosystem and to support the DEX, whereas LEASH is intended to be a store of value asset in the Shiba Inu ecosystem and to support the DEX.
The Shiba Inu price, which is up a bit in the last 24 hours but down by a double-digit percentage in the last 10 days, was unaffected by the news.
Nonetheless, Shiba Inu is doing rather well for a new meme coin, having climbed into the top 31 cryptocurrencies with a market worth of more than USD 3 billion.