An altcoin in the Shiba Inu (SHIB) ecosystem is skyrocketing after its lead developer unveiled the first “truly decentralized exchange” ahead of the launch of Shibarium, the project’s highly anticipated upcoming Layer 2 scaling solution.
In a new blog post, pseudonymous SHIB developer Shytoshi Kusama reveals “Shibapendencia Day”, a celebration for the SHIB community to declare their freedom from centralization.
The project’s decentralized exchange (DEX), ShibaSwap, is preparing to launch its second iteration, though no specific date has been given.
The Shibapendency Day declaration caused Bone ShibaSwap (BONE), the DEX governance token, to rise.
The dog-themed crypto asset went from a low of $0.90 on July 1 to a high of $1.44 on July 8, an increase of 60%.
According to Kusama, centralized entities have plundered the Earth, offering nothing in return and paving the way for a decentralized future.
“For hundreds of years, humanity has been subject to the concept of ‘centralization,’ a hierarchical system of authority that 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 plunder the planet, giving nothing in exchange for the billions of lives that depend on their benevolence…
With the imminent launch of ShibaSwap, we are proud to lead the charge towards the dawn of a new era by introducing the first truly decentralized exchange and declaring our Shibapendency!
This is just the first project of many that will be championed by decentralized groups who believe in the spirit of Shiba and share our vision of freedom within a decentralized future.”
BONE has since pulled back and is trading at $1.34 at the time of writing.
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