Lead Shiba Inu developer Shytoshi Kusama has once again updated his Twitter bio. This time, he makes an important statement on ShibaSwap, the ecosystem’s decentralized exchange (DEX).
Kusama reiterates to users that ShibaSwap is the official DEX of Shibarium. His Twitter bio reads: “Top Shib community member. NFA DYOR But… whispers… Shibaswap is the official DEX of Shibarium. You probably already knew that because you’re one smart pup.”
The same was reiterated by the Shiba Inu developer who goes by the name ShibDev4Evr @kaaldhairya on Twitter. The SHIB developer says in a tweet that ShibaSwap is the only “official” DEX of Shibarium.
The only *official* dex of Shibarium is ShibaSwap. Projects claiming otherwise are probably scamming. Some people while working with Shib unethically leverage Shib’s name and contacts for personal gains and listings, people and exchanges please do DYOR
— ShibDev4Evr (@kaaldhairya) March 4, 2023
He cautions users that any projects that say otherwise are probably scams. He continues, “Please do DYOR.” The word DYOR means “do your own research.”
ShibaSwap, which was introduced in July 2021, has many of the same characteristics as Uniswap and other decentralized exchanges, such as token swapping and liquidity pools, with the addition of extra features like staking and governance.
ShibaSwap to be integrated into Shibarium
According to a blog post, Shibarium has intentions of integrating ShibaSwap into the platform for faster access to tools and services and to give 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 anticipated that the imminent introduction of the TREAT token would encourage these pools and provide users with lower network fees and better incentive schemes.
In the meantime, the Shibarium protocol has chosen BONE as its native token to reward validators and delegators and to pay for gas transactions.