The Shiba Inu team has announced the new 2.0 version of the decentralized exchange (DEX) ShibaSwap. Shiba Inu director Lucie provided insight into what to expect from this new version of the DEX, a development that could boost networking activity on the Shibarium network.
Shiba Inu Exec reveals what to expect from ShibaSwap 2.0
Lucie mentioned important technical facts ShibaSwap as part of the things you can expect from the new version of the DEX. First, she noted that the V2 was developed based on user feedback and aims to improve the accessibility of decentralized finance (DeFi) for everyone.
The ShibaSwap V2 will enhance previous V1 features such as the token swaps, liquidity provision, staking, and reward tracking tool. Lucie then explained what these major upgrades will look like in the V2 of the DEX.
According to her, the new version will have concentrated liquidity. This allows liquidity providers to set price margins, increase their capital efficiency and optimize their returns. Lucie revealed that liquidity temporarily activates when prices move outside the set range. Liquidity providers who prefer a passive approach can still opt for the full option, providing liquidity across the full price spectrum.
Shiba Inus ShibaSwap V2 has also optimized the redemption of wagering rewards as liquidity providers can now claim their rewards without withdrawing liquidity. There will also be a multi-hop swaps feature in the new version that supports multi-pair trading to enable complex trades.
The new version offers greater transparency as liquidity providers can now see the annual percentage rates (APRs) for V1 and V2 pools. The Shiba Inu Exec revealed that there are three variable fees (0.05%, 0.30% and 1.00%) to give users options based on their risk tolerance and market projections.
Plans for the ShibaSwap V3
Shiba Inu director Lucie also revealed that there are already plans for the development of ShibaSwap V3. Some of the scheduler features for the DEX include limit orders, price alerts, and a more user-friendly interface. Lucie added that additional concepts such as dollar-cost averaging (DCA) and smart swap contracts are being considered.
For now, the Shiba Inu Exec noted that the main focus remains on the V2 version of the Shiba Inu DEX. Lucie noted that ShibaSwap 2.0 reflects a shift toward strategic liquidity provision and targeted revenue. This will help position the platform as a “competitive DeFi tool with advanced user control and enhanced functionality,” she added.
The improvements to ShibaSwap can help boost network activity Shiba Inu’s Shibarium. DeFiLlama data shows that the platform is currently the top DEX on the Layer-2 network, meaning it already largely contributes to daily trades on Shibarium.
At the time of writing, Shiba Inu is trading around $0.000016, down 4% in the last 24 hours, according to facts from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com