What Is Shibaswap?

2021-07-25 00:00:00 · 468 views · 3 min read

 

Shibaswap is a decentralized exchange eco built on the Ethereum blockchain with a meme token $SHIB and 2 different tokens $LEASH and $BONE.

  • DIG

You can DIG rewards as liquidity providers. Earn $BONE returns on trades proportional to your share of the pool. 

 

 

  • FETCH

You can migrate your UNI V2-LP or SLP tokens to earn $BONE. ShibaSwap will retrieve your Uniswap or SushiSwap LP Tokens. This is a new feature with high slippage which can potentially result in losses during migration.

 

 

  • BURY

You can stake your tokens to gain returns. ShibaSwap allows you to stake tokens to earn Woof Returns proportionally to your contribution to the pool. When you stake $SHIB, $LEASH, or $BONE, you will receive xSHIB, xLEASH, or tBONE. Those tokens represent your share of the pool.

 

 

  • SWAP

As the basic function of a cryptocurrency exchange, you can swap your tokens for other tokens. 

 

 

  • WOOF

You can claim your returns here and check the APR of all pools.

At the time of writing, the highest APR is 351.99% for the ELON-WETH pool.

 

 

Launched for 17 days so far, the Shibaswap’s on-chain data seem to show a downward trend after ATH on the launch day.

However, the dex trading volume has recovered since 20th Jul and increased from $69.54M to $87.35M, up 25.61% in just 1 day. The $SHIB token price shows the same trend as the dex trading volume: it also went up since 20th Jul.

 

 

 

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