Shibaswap is a decentralized exchange eco built on the Ethereum blockchain with a meme token $SHIB and 2 different tokens $LEASH and $BONE.
You can DIG rewards as liquidity providers. Earn $BONE returns on trades proportional to your share of the pool.
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.
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.
As the basic function of a cryptocurrency exchange, you can swap your tokens for other tokens.
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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