In a significant development for the Shiba Inu community, the long-awaited updates for ShibaSwap 2.0 have been teased with new details, and nft marketplace Pawzaar has announced a new approach to SHIB burns that aims to unite Shiba Inu tokens. Shibarium to ethereum. Here you have the latest news about Shiba Inu.
New features for ShibaSwap 2.0
The Shiba Inu ecosystem is abuzz with anticipation as marketing lead Lucie hinted at innovative features for the upcoming release of ShibaSwap 2.0. in a statement That caught the attention of cryptocurrency enthusiasts, Lucie said:
Shibaswap 2.0 is more than a normal DEX; It is a complete portal experience. As for why it can’t be produced like other DEXs in a week, it involves complex development and features. Additionally, Shiba Name Service is one of our pioneering features. Another feature is coming next week. #shibarium x BONE x SHIB
ShibaSwap 2.0, which is expected to revolutionize the decentralized exchange landscape, is still in development, with the specific release date still being kept under wraps. Although speculative mentions of an October release have surfaced (which turned out to be false), the team’s strategic silence on an official date underscores its cautious approach to community expectations.
Lucie’s past. comments In April it came to light that ShibaSwap 2.0 will not only facilitate token swaps but will also serve as a crypto portal: a comprehensive platform offering news, statistics, charts and trends. In addition to the information portal, the DEX will have new designs that have not yet been revealed. This level of development suggests a qualitative leap, with the aim of improving user participation and providing value-added services within the Shiba Inu ecosystem.
Pawzaar implements new approach to SHIB burns
Moving on to the SHIB burning debate, Pawzaar, a burgeoning nft platform on Shibarium, declared A key operational update today:
We have finished updating our platform! All SHIB burns now go to a wallet that will link Shibarium tokens to ethereum. As indicated by Lucie, we have complied with the request for burns to be performed on ethereum. We will start adding collections to the platform!
The platform is aligning itself with Lucie’s guidance, ensuring that burns contribute to the total reduction of SHIB supply on ethereum‘s Layer-1 network. The clarification came after Shib CoOp’s inaugural SHIB burning at Shibarium. provoked a heated debate, which emphasizes the need for a protocol that precisely affects the supply of SHIB. Community-driven burn tracker Shibburn laid out the technicalities: “If you burn a token like SHIB on an L2 chain, you’re not actually burning the original token on the L1 chain.”
Lucie further explained the burning process on both layers, emphasizing the need for burns to occur on the ethereum network to genuinely affect the original supply of SHIB tokens. She explained that Shibarium projects that want to burn tokens must make sure to connect the SHIB to the ethereum network and then send it to the dead wallet.
Pawzaar’s implementation of this policy is a first for Shibarium and shows its commitment to community consensus on token burning. Surprisingly, the nft platform was only launched on October 24 and saw huge nft-marketplace-massive-traffic-surge/” target=”_blank” rel=”nofollow”>influx of users thanks to the SHIB Dreams collection. The high demand was too much for the node provider and prompted the Pawzaar team to stop creating new NFTs for a while.
Recently, Pawzaar also Announced: “We will add collections and provide details about the next PAWPASS. Expect announcements of some upcoming PAW (PAWZONE) partnerships and utilities on the platform. Keep creating Shibarium nft creators and supporting SHIB burn collectors! The fun is about to begin.”
At press time, Shiba Inu was trading at $0.000008, just above the 20-week EMA (at $0.00000798).
Featured image from Shutterstock, chart from TradingView.com
