The ShibaSwap platform has been a staple of SHIB since it first launched in July 2021, but as new projects have been announced, attention has slowly drifted away from the DEX. That is, until talk of ShibaSwap 2.0 or v2, started up.
ShibaSwap is Shiba Inu’s decentralised exchange. It lets holders swap their tokens, add liquidity to the pool, and stake their tokens. At the time of writing it has a Total Value Locked (TVL) of $45m.
So, from SHIB burns to the Shiba burn portal, here’s a look at what we currently know about ShibaSwap 2.0, and when we can expect more.
What Is ShibaSwap 2.0?
ShibaSwap 2.0 is the proposed upgrade to the ShibaSwap DEX that should bring with it a host of new features.
The major phrase used to describe ShibaSwap 2.0 has been a 'crypto portal'. Developer Eric M first used this in Discord to describe the update. He said: “ShibaSwap 2.0 won’t be just a swap platform but a crypto portal.”
Since then, Shiba Discord moderator Queenie expanded upon what this portal would look like. In the February AMA, she said: "We are essentially turning it into a crypto portal, where we're going to encompass stats and trends, news, charts, and basically anything that the community would love to see."
Aside from these new features, Queenie said it would also receive a "total facelift" reaffirming comments made by Eric M who said it would include a "full UI/UX redesign".
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One part of ShibaSwap that does seem to be coming along faster than other elements is the documentation, or a wiki. Comments in the Shiba Inu Discord suggest progress on this is developing quickly.
Alongside this information, the only other major detail we know about ShibaSwap 2.0 is its relation to future SHIB burns. The burn portal, previously thought to be part of 2.0, launched in April on the current version of ShibaSwap, and has burned over 60 billion SHIB so far.
In her own hypothesis about burning trillions of SHIB, Shiba Inu team member Queenie envisioned a large role for ShibaSwap here, alongside Shibarium.
Regardless of the content included, the ShibArmy has already embraced ShibaSwap 2.0, seeing it as a vital piece of the Shiba ecosystem’s future.
ShibaSwap 2.0 Reveal And Release Date Speculation
We don’t know the release date for ShibaSwap 2.0 just yet, with developers being cautious of giving specific release dates about any SHIB projects following the delayed launch of the original ShibaSwap.
Moderators in the Official Shiba Inu Discord predicted it could be as soon as Q1 2022, although this came and went without any new launches.
While we can't know for sure, it seems the Shiba Inu metaverse and Shibarium may be closer to launch than ShibaSwap 2.0.
We’ll keep this page updated with new information on ShibaSwap 2.0 when it comes.