ShibaSwap is a decentralized exchange (DEX) based on the Shiba Inu token (SHIB). It operates on the Ethereum and Fantom networks, allowing users to swap tokens, stake, and buy unique Shiboshi NFTs. The platform is part of the Shiba Inu ecosystem, which is expanding beyond being just a meme coin into a comprehensive blockchain ecosystem.
On ShibaSwap, users can engage in various activities, including:
ShibaSwap has a user base of around 2,200 unique wallets that have interacted with the dapp, with a rating of 4.7 out of 5 based on 461 ratings. It is ranked #202 overall and #48 in the Swap category among decentralized applications.
The platform is designed to provide a seamless experience for users, with a focus on token swapping and staking. It is part of the broader Shiba Inu ecosystem, which is being expanded through the development of Shibarium, a second-level blockchain network that aims to increase transaction speeds, lower fees, and provide a more stable environment for decentralized applications.
To use ShibaSwap, users need to connect their wallets to the platform. Once connected, they can access various financial instruments, including a swap exchange where they can select tokens to sell and buy. The platform supports over 100 tokens, and users are advised to use tokens received through the ERC-20 network.
ShibaSwap is built on the Ethereum blockchain and is part of the Shiba Inu ecosystem, which is founded on three ERC-20 standard tokens: SHIB, LEASH, and BONE. SHIB is the main asset used for trading, calculations, and storage in wallets, while LEASH is a secondary token used for farming pools.
Overall, ShibaSwap is a key component of the Shiba Inu ecosystem, providing users with a decentralized exchange to swap tokens and engage in other activities within the ecosystem.