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What is ShibaSwap and how does it work?

Published 01/10/2023, 04:58 AM
Updated 01/10/2023, 10:20 AM

ShibaSwap is a decentralized finance (DeFi) platform featuring a decentralized exchange (DEX) and passive income-generating services like staking, liquidity pools and yield farming in its ecosystem.

Launched in July 2021, ShibaSwap is a fork of SushiSwap, a popular DEX that is itself a fork of Uniswap (UNI), the world’s leading DEX by volume. But unlike its rivals, ShibaSwap’s core purpose has been mostly boosting the utility of Shiba Inu (SHIB) tokens.

Shiba Inu (SHIB)

SHIB/USD weekly price chart. Source: TradingView

Doge Killer (LEASH)

LEASH/USD weekly price chart. Source: TradingView

Bone (BONE)

BONE/USD weekly price chart. Source: TradingView

Staking (BURY)

ShibaSwap BURY (staking) APY. Source: Official Website

Liquidity Pools (DIG)

Yield Farms (WOOF)

Burn Portal

NFTs

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