Shytoshi Kusama, the mysterious lead developer of the Shiba Inu SHIB/USD project, lauded the work of the team instrumental in bringing the ecosystem's decentralized exchange ShibaSwap to the layer-2 network, Shibarium.
What Happened: In a post on social platform X, the pseudonymous personality, also believed to be the co-founder of Shiba Inu, wrote that he is proud of the efforts put in by the team in linking the two of the ecosystem's biggest platforms. Kusama had a special word of appreciation for Kaal Dhairya, a key developer in the Shiba Inu ecosystem.
"So proud of the improvements and innovations @kaaldhairya and the team have made while bringing ShibaSwap to Shibarium."
In what could be a signal of more such developments in the ecosystem, Kusama added, "So much more in store as we march forward. Stay tuned #SHIBARMY!"
Kaal Dhairya responded to Kusama's celebratory post and assured the SHIB community that new enhancements and updates would be shipped regularly going forward. "It's not a race it's a marathon," the developer remarked.
Why It Matters: ShibaSwap, which launched in July 2021, has been operating as a DEX on the Ethereum ETH/USD blockchain, providing services such as staking, liquidity pools, and yield farming.
With the latest development, the DEX went multichain, allowing users to swap tokens across both chains, thereby managing liquidity in a much better way.
Shibaswap’s launch also provided a solid use case for Shibarium–a planned endeavor by Shiba Inu to rise above its memecoin image and add more value to the tokens associated with the ecosystem.
Price Action: At the time of writing, SHIB was exchanging hands at $0.00002489, down 2.91% in the last 24 hours, according to data from Benzinga Pro.
Image via CryptoFX on Shutterstock
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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