The Shiba Inu Crypto is a decentralized 'meme' coin, similar to Dogecoin that has grown into an extremely vibrant ecosystem with a community of over half a million. Since its inception, Shiba Inu has grown to a market capitalization of over $7.7 billion fully diluted and is now listed on reputable exchanges like Coinbase and Binance.
Now that the Shiba Inu coin and the ecosystem is well-capitalized, they are now looking to build decentralized products that will add value to the Ethereum ecosystem.
The overarching goal here is to develop decentralized applications that will return value to Shiba Inu coin holders in the form of a dividend. This makes Shiba Inu potentially a more valuable alternative to Dogecoin, because their ecosystem will have real utility.
ShibaSwap is the first product that the Shiba Inu coin ecosystem is building for their decentralized ecosystem (DECO). The goal of ShibaSwap is to ultimately build a decentralized and safe venue for community members to trade various cryptocurrencies.
By developing a decentralized exchange like ShibaSwap, the community has now enabled value accrual due to the fact that all fees earned from the exchange will be paid to Shiba coin stakers on the exchange.
Although ShibaSwap is not finalised yet and is still undergoing audits for safety, it is definitely a bullish catalyst for the Shiba ecosystem.
Once the audits are finalised for the ShibaSwap DEX, it would be reasonable to assume that the protocol is safe. Until then, it would be recommended to only test the protocol with a small amount of money.
ShibaSwap will be the first big release from the Shiba Token since the launch of the cryptocurrency in early 2021. While the product is yet to be released, there is a lot of promise around how much value accrual it will bring to Shiba Coin holders.
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