Shibaswap Review

Shibaswap Review

Dylan Matthews
Fact Checked
Aug 23, 2022

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 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.

Table of Contents

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.
Visit Site
Audited Proof of Reserves
Audited Proof of Reserves

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.

ShibaSwap Home Page
ShibaSwap Home Page.

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.

ShibaSwap Staking Rewards
ShibaSwap Staking Rewards.

Final Verdict

ShibaSwap is be the first big release from the Shiba Token since the launch of the cryptocurrency in early 2021. It has been a massive success trading millions of dollars in daily volume and earning high protocol fees for Shiba Token stakers.

Dylan Matthews

I am the Founder & CEO of Buy Bitcoin Bank and was previously an engineer for a Prop trading firm in Crypto.

View Posts