Shiba Inu (CCC:SHIB-USD) holders are rejoicing today thanks to a new announcement. The SHIB development team is bringing its ShibaSwap feature to life, a long anticipated launch in the DeFi and altcoin space. The team is sticking a flag in the ground, declaring today “Shibapendence Day,” and Twitter is abuzz after the Shiba Inu crypto news.
A blog post from the development team ushered in the new ShibaSwap space, calling it the “dawning of a new era.” ShibaSwap is the long-touted decentralized exchange, or DEX, of SHIB, and its sibling token Dogecoin Killer (CCC:LEASH-USD). The new platform will allow investors to go beyond simple arbitrage and stake their tokens for rewards.
Additionally, the space opens up support for a third token under the Shiba Inu umbrella, Bone (CCC:BONE-USD). Bone will be a staking reward for those investors who choose to help add to the SHIB liquidity pool.
With Bone, holders have governance power, which they can use to vote on community objectives and upgrades.
Shiba Inu Crypto News: SHIB Prices Bump Up as Twitter Howls for ShibaSwap
This Shiba Inu crypto news is huge. The fledgling altcoins that are cropping up in the wake of April’s Dogecoin (CCC:DOGE-USD) skyrocketing are locked in a heated battle for market share. The robust ecosystem and tokenomics of Shiba Inu are a draw to the token; but, up until today, all of those tokenomics have been just theory. Now, investors will be able to put their SHIB to use for some purpose other than arbitrage.
— Shib (@Shibtoken) July 6, 2021
Of course, the launch of ShibaSwap is sending the token’s prices up. SHIB is getting a boost of 7% over the last 24 hours.
Twitter is brimming with excitement at the launch of the trading platform. Influencers within the world of crypto are hyping up the masses with the hashtag #ShibaSwap. Others are using the trending opportunity to provide helpful info to investors looking to use the platform.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.