Shiba Inu’s Newly Launched ShibaSwap DEX Explodes With $1.5B TVL in Less Than 2 Days

Shiba Inu’s (SHIB) long-awaited decentralized exchange, ShibaSwap, surpassed more than $1.5 billion in total value locked (TVL) in less than 48 hours.

jumbo jili

Barely two days since the launch of ShibaSwap, a DeFi platform coming from the popular Ethereum-based meme project, Shiba Inu, more than $1.5 billion worth of assets have been locked on the exchange.

ShibaSwap Records $1.5 in TVL
As with many DeFi projects, ShibaSwap also introduced a yield farming program that allows users to stake their tokens for rewards. The project’s pseudonymous “Top Dog,” Shytoshi Kusama, noted in a Medium post that the Shiba Inu army can stake either $SHIB or $LEASH to earn $BONE – the native token of ShibaSwap.

In 24 hours after the launch, the TVL reached a significant milestone of $1 billion. Furthermore, it is currently at above $1.5 billion after surging to a high of $1.54 billion, according to data on ShibaSwap.

สล็อต

ShibaSwap Behind High Ethereum Gas Fee
The launch and influx of users rushing to stake on ShibaSwap sent Ethereum’s gas fees shooting through the roof. Around last week, the transaction costs on the Ethereum network were at their lowest, indicating a decrease in activity on the blockchain. This is evident as data on Etherscan showed that a whopping $1 billion was moved for a meager fee of $0.60 within a minute.

However, with the launch of ShibaSwap and user activities, fees and network congestion on Ethereum have reverted to how it was earlier this year. An earlier report confirmed that Shiba Inu-related projects were responsible for the massive gas fee hike.

สล็อตออนไลน์

Shiba Inu Continues to Hold Strong
The Shiba Inu project, which joined the unending list of meme coins in August 2020 with its native token SHIB, gained popularity in May this year. Since then the project has continued to receive attention from new traders and DeFi degens, even after many thought its bubble would fade like other similar projects before it.

Almost one year since launch, though, the SHIB token is still considered as one of the favorites in the meme coins ranking that also features Dogecoin (DOGE).

Certain events have been attributed to why the token is still rallying support despite speculation that its bubble would soon burst. In May, Ethereum’s co-founder, Vitalik Buterin burned $6.7 billion worth of SHIB tokens alongside other meme coins and donated the funds to non-profits like India’s Coronavirus relief fund.

jumboslot

At the time, Buterin, who noted that he received the tokens as a gift, was accused of dumping the SHIB on unsuspecting investors, causing its price to drop by more than 40%.

Many believed the unfortunate incident would be the end of the dog-themed coin, but the Shiba Inu army will not have any of it. They continue to rally around the project, as the recent stats on the newly launched ShibaSwap exchange confirm this.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

slot

For hundreds of years, humanity has been subject to the concept of “centralization”, a hierarchical system of authority which steals power from the majority and distributes it to the controlling entities of our world. These centralized forces have managed to erode the fabric of the human spirit and pillage the planet, giving nothing in return to the billions of lives which depend on their benevolence. Despite our differences, most of us are simply searching for happiness, prosperity for our family and friends, and a financial path that can shelter us from the hardships of an unfair society.

Shiba Inu’s Newly Launched ShibaSwap DEX Explodes With $1.5B TVL in Less Than 2 Days

Shiba Inu’s (SHIB) long-awaited decentralized exchange, ShibaSwap, surpassed more than $1.5 billion in total value locked (TVL) in less than 48 hours.

jumbo jili

Barely two days since the launch of ShibaSwap, a DeFi platform coming from the popular Ethereum-based meme project, Shiba Inu, more than $1.5 billion worth of assets have been locked on the exchange.

ShibaSwap Records $1.5 in TVL
As with many DeFi projects, ShibaSwap also introduced a yield farming program that allows users to stake their tokens for rewards. The project’s pseudonymous “Top Dog,” Shytoshi Kusama, noted in a Medium post that the Shiba Inu army can stake either $SHIB or $LEASH to earn $BONE – the native token of ShibaSwap.

In 24 hours after the launch, the TVL reached a significant milestone of $1 billion. Furthermore, it is currently at above $1.5 billion after surging to a high of $1.54 billion, according to data on ShibaSwap.

สล็อต

ShibaSwap Behind High Ethereum Gas Fee
The launch and influx of users rushing to stake on ShibaSwap sent Ethereum’s gas fees shooting through the roof. Around last week, the transaction costs on the Ethereum network were at their lowest, indicating a decrease in activity on the blockchain. This is evident as data on Etherscan showed that a whopping $1 billion was moved for a meager fee of $0.60 within a minute.

However, with the launch of ShibaSwap and user activities, fees and network congestion on Ethereum have reverted to how it was earlier this year. An earlier report confirmed that Shiba Inu-related projects were responsible for the massive gas fee hike.

สล็อตออนไลน์

Shiba Inu Continues to Hold Strong
The Shiba Inu project, which joined the unending list of meme coins in August 2020 with its native token SHIB, gained popularity in May this year. Since then the project has continued to receive attention from new traders and DeFi degens, even after many thought its bubble would fade like other similar projects before it.

Almost one year since launch, though, the SHIB token is still considered as one of the favorites in the meme coins ranking that also features Dogecoin (DOGE).

Certain events have been attributed to why the token is still rallying support despite speculation that its bubble would soon burst. In May, Ethereum’s co-founder, Vitalik Buterin burned $6.7 billion worth of SHIB tokens alongside other meme coins and donated the funds to non-profits like India’s Coronavirus relief fund.

jumboslot

At the time, Buterin, who noted that he received the tokens as a gift, was accused of dumping the SHIB on unsuspecting investors, causing its price to drop by more than 40%.

Many believed the unfortunate incident would be the end of the dog-themed coin, but the Shiba Inu army will not have any of it. They continue to rally around the project, as the recent stats on the newly launched ShibaSwap exchange confirm this.

SPECIAL OFFER (Sponsored)
Binance Futures 50 USDT FREE Voucher: Use this link to register & get 10% off fees and 50 USDT when trading 500 USDT (limited offer).

PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to get 50% free bonus on any deposit up to 1 BTC.

slot

For hundreds of years, humanity has been subject to the concept of “centralization”, a hierarchical system of authority which steals power from the majority and distributes it to the controlling entities of our world. These centralized forces have managed to erode the fabric of the human spirit and pillage the planet, giving nothing in return to the billions of lives which depend on their benevolence. Despite our differences, most of us are simply searching for happiness, prosperity for our family and friends, and a financial path that can shelter us from the hardships of an unfair society.