Lead Shiba Inu developer Shytoshi Kusama has updated his Twitter bio again. This time he makes an important statement about ShibaSwap, the ecosystem’s decentralized exchange (DEX).
Kusama reiterates to users that ShibaSwap is Shibarium’s official DEX. His Twitter bio reads: “Top member of the Shib community. NFA DYOR But… whispers… Shibaswap is the official DEX of Shibarium. You probably already knew that because you are a smart pup.”
The same was echoed by the Shiba Inu developer, known on Twitter as ShibDev4Evr @kaaldhairya. The SHIB developer says in a tweet that ShibaSwap is Shibarium’s only “official” DEX.
Shibarium’s only *official* index is ShibaSwap. Projects claiming otherwise are likely scams. Some people working with Shib are unethically using Shib’s name and contacts for personal gain and lists, people and exchanges, please do DYOR
— ShibDev4Evr (@kaaldhairya) March 4, 2023
He warns users that any projects that say otherwise are likely scams. He continues, “Please do DYOR.” The word DYOR means “do your own research.”
Launched in July 2021, ShibaSwap shares many of the same characteristics as Uniswap and other decentralized exchanges, like token swapping and liquidity pools, with additional features like staking and governance.
ShibaSwap is to be integrated into Shibarium
According to a blog post, Shibarium intends to integrate ShibaSwap into the platform for faster access to tools and services, and to allow users and validators/delegators quick access to all staking and liquidity pools. This would be part of the protocol’s mainnet launch.
It is also expected that the upcoming launch of the TREAT token would encourage these pools and offer users lower network fees and better incentive schemes.
Meanwhile, the Shibarium protocol has chosen BONE as its native token to reward validators and delegators and pay for gas transactions.
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