ShibaSwap has evolved significantly since its debut in July 2021. Token trading and staking will be enabled through Shiba Inu’s native DEX, along with additional features such as liquidity pools and governance. As a result, it has entered the arena of rivalry with other decentralized exchanges like Uniswap.
ShibaSwap is a peer-to-peer cryptocurrency exchange (DEX) that allows users to exchange tokens. On ShibaSwap, users can “swap” tokens directly; a third-party protocol is not required to validate the transaction. Since ShibaSwap is based on the Ethereum network, only ERC-20 tokens are allowed to be traded by users.
With a number of developments coming from the Shiba Inu team, the SHIB community thought the focus was shifted away from the ShibaSwap. That’s when the references to ShibaSwap v2 appeared. Let’s take a closer look at what ShibaSwap v2 is and its features.
What is ShibaSwap 2.0?
The ShibaSwap DEX is getting an upgrade called ShibaSwap 2.0, which is said to include a bunch of brand new features. One of the hints developer Eric M received from Discord is that ShibaSwap 2.0 will not only be an exchange platform but also a crypto portal.
In an AMA session conducted in February, it was hinted that the new crypto portal would feature news, charts, statistics, trends and anything else the community would like to see.
Shiba Inu Discord moderator Queenie also teased that there will be a complete UI redesign.
So far there is no indication of an official start date. This may be because the v2 portal may still be under development. Announcing an official date and having delays with it will raise too many questions. However, developments could progress quickly and be introduced before the end of 2022.
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