The decentralized exchange (DEX) and DeFi platform, Marswap, on Shibarium now lets investors easily buy Shiba Inu’s BONE token. They’ve added a feature that allows you to use your bank card and PayPal for these transactions.
The Marswap team shared exciting news on X about their latest development. In a post, they mentioned that Ian, the CEO of Marswap, demonstrated the new feature in a live broadcast on the project’s Telegram group.
Marswap’s Milestone: Seamless On/Off-Ramp Integration on Shibarium
During a live broadcast, Marswap’s CEO, Ian, showcased the successful purchase of BONE tokens on the Shibarium network using his bank card. He then sold the tokens back to fiat, with the funds transferred to his PayPal account—all through Marswap.
This achievement aligns with Marswap’s earlier confirmation of their plan to introduce the first on/off-ramp protocol designed specifically for the Shibarium network. The team emphasized the process’s seamless nature, eliminating the need for complex KYC procedures.
Join the @ShibaXanders & @RagnarShiba space where we will be talking about our NEW DECENTRALISED ON/OFF RAMP! (NO KYC) where you can buy #BONE straight from your bank card and sell straight to your PayPal 🔥🚀 https://t.co/ArphKnyU7k
— MARSWAP – Shibarium DEX & DeFi Platform (@MARSWAP1) November 11, 2023
To provide context, an on-ramp allows users to buy crypto with fiat, while an off-ramp facilitates selling assets for fiat. The introduction of this on/off-ramp service is a significant moment for the growing layer-2 protocol Shibarium.
Marswap’s PayPal Integration Excites Shiba Inu Community
The recently introduced feature on Marswap, allowing the purchase of Shiba Inu’s BONE tokens with PayPal and bank cards, has garnered attention from key figures in the Shiba Inu community, including lead developer Shytoshi Kusama. Kusama expressed his excitement with a “Heart on Fire” emoji in response to Marswap’s announcement on X.
Notably, a quick glance at the Marswap platform reveals that the development team has already integrated the PayPal payment option. To utilize the service, interested individuals can visit the official Marswap platform, input the USD equivalent of the BONE they want to buy, and follow the on-screen instructions.
Marswap’s Impact on Shibarium: Success, SHIB Burning, and Trust in CEO
Launched earlier this year as a Shibarium-based DEX, Marswap has become a key player in the Shiba Inu ecosystem, offering various DeFi services such as token swaps, staking, gaming, and NFTs. The project supports Shiba Inu by burning 2% of SHIB with every transaction, and as of August, it had burned 4.5 billion SHIB. In a recent disclosure, the team claimed to surpass the 7 billion SHIB burn threshold.
Lead developer Shytoshi Kusama expressed his trust in the Marswap CEO, highlighting his positive opinion on the platform in the Shibarium Telegram group. However, he advised investors to conduct thorough due diligence.
As a significant project on Shibarium, Marswap’s success holds significance for the layer-2 network. The introduction of the on/off-ramp feature is expected to boost demand for BONE, Shibarium’s gas token, by simplifying the asset purchasing process. Marswap currently leads as the top DEX on Shibarium, boasting a Total Value Locked (TVL) of $341,358.
Important:Â Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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