The Shiba Inu team has announced the new 2.0 version of the decentralized exchange (DEX) ShibaSwap. Shiba Inu Executive Lucie provided insights into what to expect from this new version of the DEX, a development which could boost network activity on the Shibarium network.
Shiba Inu Exec Reveals What To Expect From ShibaSwap 2.0
Lucie mentioned key technical facts about ShibaSwap as part of the things to expect from the new version of the DEX. First, she noted that the V2 was developed based on users’ feedback and focused on improving decentralized finance (DeFi) accessibility to everyone.
The ShibaSwap V2 will improve previous V1 features like the token swaps, liquidity provision, staking and the rewards tracking tool. Lucie then went on to highlight how these key upgrades will look in the V2 of the DEX.
According to her, the new version will have concentrated liquidity. This will allow liquidity providers to set price ranges, increase their capital efficiency and optimize their returns. Lucie revealed that liquidity becomes temporarily active if the prices move outside the set range. Liquidity providers who prefer a passive approach can still go with the full range option where they provide liquidity across the full price spectrum.
Shiba Inu’s ShibaSwap V2 has also optimized the redemption of staking rewards as liquidity providers can now claim their rewards without withdrawing liquidity. There will also be a multi-hop swaps feature of the new version which will support multi-pair trading to enable complex transactions.
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 there are three variable fee tiers (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 Exec Lucie also revealed that there are already plans in place for the development of ShibaSwap V3. Some of the planner features for the DEX include limit orders, price alerts, and a more user-friendly interface. Lucie added that additional concepts like dollar-cost averaging (DCA) and smart swap contracts are under consideration.
For now, the Shiba Inu Exec noted that the main focus remains on the V2 version of the Shiba Inu DEX. Lucie remarked that ShibaSwap 2.0 reflects a shift towards strategic liquidity provision and targeted earnings. This will help position the platform as a “competitive DeFi tool with advanced user control and improved functionality,” she added.
The improvements on ShibaSwap could help boost network activity in Shiba Inu’s Shibarium. DeFiLlama data shows that the platform is currently the top DEX on the layer-2 network, meaning that it already contributes largely to the daily transactions on Shibarium.
At the time of writing, Shiba Inu is trading at around $0.000016, down 4% in the last 24 hours, according to data from CoinMarketCap.
Featured image created with Dall.E, chart from Tradingview.com