ShibaSwap is the first product that the Shiba Inu coin ecosystem is building for their decentralized ecosystem (DECO). The goal of ShibaSwap is to ultimately build a decentralized and safe venue for community members to trade, stake and provide liquidity various cryptocurrencies.
By developing a decentralized exchange like ShibaSwap, the community has now enabled value accrual due to the fact that all fees earned from the exchange will be paid to Shiba coin stakers on the exchange.
Platform Highlights
- Audited Decentralized Exchange (DEX) with deep liquidity.
- Earn up to 50% APY with SHIB, LEASH and BONE staking.
- Over $10m USD in daily trading volume.
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What is ShibaSwap?
ShibaSwap is a decentralized finance (DeFi) platform that allows users to provide liquidity, stake, and swap tokens to earn WOOF Returns through a passive income reward system. The platform is built on three tokens, SHIB, LEASH, and BONE, and also offers tools like portfolio trackers to help users navigate the crypto world. ShibaSwap aims to provide a safe and decentralized platform for users to trade their crypto assets and to grow its ecosystem by constantly scaling the platform and bringing in more interested parties.
The platform's unique tokenomics, solid design, technical implementation, and viral growth from memes are expected to reinforce its strength and provide residual benefits to the ecosystem. In addition to the core features of liquidity provision, staking, and token swapping, ShibaSwap also offers unique rewards and exotic coin pairs in its farm, as well as analytics to help users track their portfolio performance.
Is the ShibaSwap App Safe?
ShibaSwap has completed several audits by several top-tier Smart Contract auditing firms, making their decentralized exchange and staking platform as safe as UniSwap or SushiSwap. Users are safe to buy, sell and swap tokens on the ShibaSwap App.
The ShibaSwap Incubator
Now that the Shiba Inu coin and the ecosystem is well-capitalized, they are now looking to build decentralized products that will add value to the Ethereum ecosystem.
The overarching goal here is to develop decentralized applications that will return value to Shiba Inu coin holders in the form of a dividend. This makes Shiba Inu potentially a more valuable alternative to Dogecoin, because their ecosystem will have real utility.
ShibaSwap Staking
On the ShibaSwap platform, you can stake your ShibaSwap LP tokens to earn up to 50% APY. To earn the Shibaswap staking rewards, you must firstly provide liquidity on the SHIBA/ETH or BONE/WETH pair, then stake the Liquidity Provider token on the ShibaSwap app.
Final Thoughts
In conclusion, ShibaSwap is a DeFi platform built on three tokens, SHIB, LEASH, and BONE, that enables users to provide liquidity, stake, and swap tokens to earn WOOF Returns through a passive income reward system. The platform also offers tools like portfolio trackers to help users navigate the crypto world, and aims to provide a safe and decentralized platform for users to trade their crypto assets. ShibaSwap has undergone multiple audits, making it as safe as other top-tier decentralized exchanges like UniSwap or SushiSwap.
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Author
Dylan Matthews is the Co-Founder and head of operations at Buy Bitcoin Bank, with a background in engineering and experience as a Prop Trader. He has leveraged his knowledge and skills to build and scale the platform, providing users with a seamless experience for buying and selling cryptocurrency.
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