Shibaswap Review

What is ShibaSwap?

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.

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.

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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.

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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.

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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.