Can ShibaDEX reignite interest in Shiba Inu?

2022 is the twelvemonth crypto got serious. Indeed, meme coins similar Shiba Inu look to person fallen by the wayside recently.

While the existent market-wide pump has brought renewed optimism crossed the board, including with SHIB, which is among the apical gainers implicit the past week, its terms is inactive 68% beneath the $0.00008616 all-time precocious achieved successful October 2021.

Nonetheless, successful a bid to crook things around, ShibaDEX launches contiguous with the committedness of opening up the SHIB ecosystem. But is this capable to bring the investors back?

“Our motto is “a location for each Shibas”. ShibaDEX not lone supports SHIB but besides the vast, vibrant Shiba token ecosystem. Store and commercialized your BONE, LEASH, and much successful 1 place.”

Source: shibadex.io

Who’s down ShibaDEX?

Shiba Inu’s archetypal cross-chain DEX is powered by AtomicDEX, which is built connected apical of the Komodo protocol. As a result, it claims to person the widest cross-chain enactment covering 99% of crypto assets.

In a property merchandise received by CryptoSlate, ShibaDEX Co-Founder and Komodo CTO Kadan Stadelmann said ShibaDEX volition nexus Shiba Inu to outer blockchains for cross-community collaboration.

“ShibaDEX is simply a span that links unneurotic each the Shiba Inu assemblage tokens and apical meme coins. It’s besides a span that links Shiba Inu to blockchain communities outside of the Shiba Inu sphere and into the wider crypto metaverse.“

What’s more, moving connected atomic swap technology, ShibaDEX offers respective advantages implicit accepted Automated Market Maker (AMM) DEXes.

How volition Shiba Inu holders benefit?

Traditional AMM DEXs, specified arsenic Uniswap, trust connected centralized liquidity pools to capable orders. In turn, liquidity pools beryllium connected liquidity providers lending their paired tokens. This process puts them astatine hazard of impermanent loss (where the deposited tokens alteration terms compared to the clip they were deposited) and rug pulls.

Atomic swaps facilitate token speech peer-to-peer (or wallet-to-wallet) with a astute declaration overseeing the operation. This makes them much decentralized than an AMM system, and being peer-to-peer, determination is nary 3rd enactment facilitating the exchange.

With AtomicDEX arsenic the “engine,” ShibaDEX volition payment from each updates to the AtomicDEX protocol. Not lone successful presumption of ratio and information updates but besides successful the availability of tokens to swap arsenic well.

From the off, Shiba Inu token holders tin commercialized their SHIB with BTC, ETH, BNB, MATIC, and galore others.

And with the AtomicDEX squad continuously adding caller tokens, for example, a mid-March update added 37 caller assets, including GALA and PRCY, ShibaDEX users volition person their prime of tokens.