There may be upgrades to the ShibaSwap rewards.
The Shiba Inu team is considering adding more yield farming to ShibaSwap and has asked SHIB holders for their suggestions before being proposed to the Doggy DAO.
SHIB Moderator Trophias created a brand new channel on the Shiba Inu Discord and on June 6th first announced the updated Shiba Inu Yield Farming Plan with several potential upgrades for the DEX.
So, with SHIB holders still waiting for the delayed burn portal rewards, the next rewards could be as follows.
Shiba Inu Yield Farming Proposal
The new farming suggestions channel invites SHIB holders to provide feedback on ShibaSwap and yield farming.
Much of the reasoning behind the yield farming proposal seems to stem from a desire to rationalize the rewarding aspects. “We understand that things can be better specifically for the reward processing aspect,” Trophias said.
“ShibaSwap has created a way to allow users to DIG (Provide Liquidity), BURY (Stake) to earn Woof returns through its sophisticated and innovative passive income rewards system,” he continued. “Nevertheless, we always strive to improve things.”
Yield farming is the act of liquidity extraction that rewards holders for locking cryptocurrency through liquidity pools.
ShibaSwap Rewards upgrade
A listed new feature to improve ShibaSwap includes the implementation of a single reward for all activities instead of different individual rewards. It also hopes to offer more reward opportunities for outside projects. The proposal could also improve gas structure – a key problem that Shibarium also hopes to solve.
This could also signal that ShibaSwap 2.0 isn’t too far away when new updates come to the DEX.
The deadline for feedback is June 8th at 8pm EST/1am BST. Once the suggestions have been compiled, they then go to the Shiba Inu developers. The developers then create a proposal for the Doggy DAO to vote on. This will also be the first DAO vote in quite some time.
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