The Shiba Inu team has revealed the 2.0 version of the decentralized exchange (DEX) known as ShibaSwap. Lucie one of the executives of Shiba Inu has shared some light on what the new DEX will have incorporated in this version. It is a development that can enhance the activity on the Shibarium network.
What to expect from ShibaSwap 2.0 as explained by an executive of Shiba Inu
As part of the things that the company ShibaSwap intends to incorporate in the DEX, Lucie mentioned key technical facts about this platform. Firstly, she emphasized that the V2 was designed with peoples’ needs in mind, as the main goal was to enhance DeFi accessibility.
It goes without saying that the ShibaSwap V2 will enhance what the V1 offered which included features such as the token swaps, liquidity provision, staking and the rewards tracking tool. Lucie then moved on to describe how V2, the next iteration of the DEX, would include significant improvements.
The new developed version of the upgrade will feature a concept of concentrated liquidity where according to her, a variety of ‘conventional’ approaches to building liquidity will be utilized. Lucie outlined that capital becomes active temporarily when the market price moves above the set point.
Liquidity providers whose strategy is not necessarily an active one can still opt for the full range option whereby they will be providing liquidity on the entire price range.
With regards to the first point, as for Shiba Inu’s ShibaSwap V2zkb, the redemption of staking reward has been improved as liquidity providers can now earn their rewards without actually withdrawing liquidity. T, will be included in the new version which will allow multi pair trading for complex transactions.
In the latest version, liquidity pool providers are offered greater chain transparency as they can now view the annual percentage rates (APRs from V1 and V2 pools. Shiba Inu Exec explained that there are three variable fee tiers (0.05%, .30+ and 1.00%) to give users options based on their market forecasts and risk level.
Plans For The ShibaSwap V3
Lucie, a Shiba Inu Exec also made it clear that there are already ShibaSwap V3 Development plans. Some of the planned features for the DEX include limit orders, price alerts and a more complex user interface. Some other concepts such as dollar cost averaging (DCA) and smart swap contracts are on the agenda as well, Lucie noted.
For the time being, the Shiba Inu Exec pointed out that the current area of concentration remains on the V2 version of Shiba Inu DEX.
Lucie stated that ShibaSwap 2.0 embraces a change in the way liquidity is offered and earnings are earned. With this improvement, the platform will further become what Lucie calls a ‘dynamic DeFi tool with above average control for users and superior features’.
These developments on ShibaSwap may serve to further enhance network activity on Shiba Inu’s Shibarium. However, DeFiLlama’s data indicates that the platform continues to rank as the top DEX on the layer-2 network, which suggests that it already plays a significant role in daily transactions on Shibarium.
As at the time this report was drafted, Shiba Inu is trading at approximately $0.000016, which is about 4% lower compared to 24 hours ago according to coinmarketcap data.
