Shiba Inu (SHIB), Metaverse Project ShibaDEX! Here are the details...
Although the Shiba Inu (SHIB) seems to have lost interest, the meme coin and its community are actually making significant moves. Komodo, the blockchain protocol known for pioneering AtomicDEX technology, announced ShibaDEX.
Shiba Inu in a wider metaverse universe with DEX
The team also tackled ShibaDEX's security and centralization challenges posed by DEXs. The platform will allow users to trade wallet-to-wallet as exchanging through a central liquidity pool exposes users to permanent losses.
Kadan Stadelmann, CTO of Komodo, who is also one of the founders of DEX, said:
“ShibaDEX is a bridge connecting all Shiba Inu community coins and top meme tokens. It is also a bridge connecting Shiba Inu to other blockchain communities and the broader crypto metadata.”
It allows users to store and exchange SHIB, LEASH and BONE in an unattended ShibaDEX wallet. BTC, ETH, BNB, MATIC and many other assets can be exchanged within their own blockchain.
The project is the second decentralized exchange in the Shiba ecosystem. The first, ShibaSwap, was launched last year. At that time, it was listed on the 10 most popular exchanges in the Ethereum ecosystem. ShibaSwap is ranked 14th in terms of DApps, according to data from DappRadar.
SHIB price shows strong rise
SHIB price is increasing along with the rest of the crypto market. The token has increased by approximately 2.56% in value over the course of the day. It is currently trading at $0.0000027. Also, the Crypto asset price has increased by 15.8% in the last 7 days.