PANews reported on May 16 that according to Cointelegraph, the decentralized exchange ShibaSwap launched a major upgrade to migrate from Ethereum to the Shibarium blockchain. This move will provide users with "a variety of new decentralized exchange and decentralized application (DApp) tools". The press release details the new features, including a new dashboard, an improved user experience, discovery charts "for new and popular tokens", and the process of adding new tokens to DEX.
Shiba Inu lead developer Shytoshi Kusama commented on the upgrade, saying: “The new ShibaSwap provides a whole new way for DEFI innovators looking for the next hot spot on Shibarium to find, exchange and interact with community tokens. This new UX is still an early version of ShibaSwap, and more updates to the product are in progress.” The upgrade will utilize “part of the transaction fee portion” to increase the value of liquidity pools (LPs) in Swap transactions, with a focus on minimizing gas fees and fast transactions.