Shiba Inu Confirms Imminent Launch of ShibaSwap 2.0

The team behind the Shiba Inu decentralized exchange (DEX), ShibaSwap, confirms that ShibaSwap 2.0 will be released sooner than expected. 

ShibaSwap’s team confirmed the development today in an X post. In the post, the team shared a clip teasing the imminent launch of ShibaSwap 2.0 with the caption, “sooner than you expect.” 

Here, sooner than you expect…📍

2️⃣.0️⃣ pic.twitter.com/Gm891AIR9B

— ShibaSwapDEX (@ShibaSwapDEX) October 23, 2024

This indicates that the development of ShibaSwap 2.0 is nearing completion and will soon be released for public use. 

ShibaSwap 2.0 Imminent Launch Excites Community 

As expected, the announcement triggered excitement within the Shiba Inu community. Shiba Inu investors expressed enthusiasm that the highly anticipated ShibaSwap 2.0 launch is imminent. 

Some users suggested that ShibaSwap 2.0’s imminent launch will provide users with a fun-filled experience. Other community members are more interested in the exact date that ShibaSwap 2.0 will make its debut. 

The team did not specify an exact date but maintained that the launch would happen sooner than people expected. 

ShibaSwap Update 

For context, ShibaSwap made its official debut in July 2021, allowing users to perform trading activities like staking and swapping assets. The DEX initially launched on the Ethereum blockchain and subsequently transitioned to Shiba Inu’s L2 scaling solution, Shibarium. 

This migration occurred on May 15, 2024. Following the migration, ShibaSwap combines the strengths of both the Ethereum and Shibarium blockchains. While the Ethereum network gives ShibaSwap enhanced security and robustness, Shibarium provides the DEX with cost-efficiency and scalability. The migration also added new features to the DEX, including creating new liquidity pools on Shibarium. 

The upgraded version of Shiba Inu’s native decentralized exchange is expected to roll out significant improvements, such as enhanced security and sleek user interface (UI). 

According to Shiba Inu’s marketing lead, Lucie, ShibaSwap 2.0 will have a dedicated crypto portal featuring crypto-related news, trends, stats, and charts, among other things.  

ShibaSwap Stats 

In the meantime, ShibaSwap is ranked as the 78th-biggest decentralized exchange on CoinMarketCap, with a daily volume of $356,436. It currently has 24 markets, such as SHIB/WETH, TREAT/SHIB, and BONE/WETH. 

Data from DeFiLlama identifies ShibSwap as the largest decentralized finance (DeFi) protocol on Shibarium. Notably, ShibaSwap accounts for $2.33 million of the $3.49 million total value locked (TVL) on the L2 blockchain.