In a blog post published earlier today, Shytoshi Kusama, the lead developer of Shiba Inu, introduced Shibapendence Day—a significant milestone for the Shiba Inu community. Kusama emphasized the importance of decentralization and the need to break free from the grips of centralized systems that have long dominated society.
Shytoshi Kusama On Shiba Swap
The focal point of the announcement was the release of ShibaSwap, the first truly decentralized exchange associated with the Shiba Inu ecosystem. With this development, Shiba Inu aims to pave the way for a decentralized future and provide financial opportunities for individuals seeking freedom from an unfair society. Read More About Shiba Swap On CoinGape…
The blog post titled Shibapendence Day expressed gratitude to the dedicated ShibArmy and acknowledged the countless FUD theories surrounding Shiba Inu but reiterated the team’s dedication to their initial mission.
With the imminent release of ShibaSwap, we are proud to lead the charge towards the dawning of a new era by presenting the first truly decentralized exchange and declaring our Shibapendence!
– Shytoshi Kusama, July 06, 2023
Furthermore, Kusama highlighted the inclusion of various token pairs and their respective Allocation Points (AP) for BONE distribution. The AP determines the weight of distribution for each pool, with pools having higher AP receiving more BONE per block.
Also Read: Shibarium To Burn Trillions of $SHIB Tokens
Shiba Inu For Shibapendence Day
To celebrate Shibapendence Day and enable community participation, ShibaSwap offers various ways for users to engage. Many ShibArmy members choose to stake their LEASH and SHIB tokens using the BURY feature. However, the full utility of ShibaSwap lies in its liquidity features, allowing participants to earn BONE, the main token associated with ShibaSwap and other ecosystem projects.
During the initial two-week Liquidity Enhancement period, an accelerated emission of 1,000 BONE per block (split among pool rewards) will take place, ensuring wide distribution of the token. Following this period, the emission rate will reduce to 100 BONE per block.
Recently, Kusama hinted at the launch of much awaited Layer 02 Shibarium, and BONE price also showed a hike upon that, reaching $3.
Also Read: Shiba Inu Holders Urged To Move $SHIB Tokens From CEX to DEX
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.