DexTools, a renowned decentralized finance (DeFi) platform, has announced its support for ShibaSwap, a decentralized exchange within the Shiba Inu ecosystem. This development will provide the SHIB community with advanced DeFi analytics. ShibaSwap allows users to trade cryptocurrencies, specifically SHIB, LEASH, and BONE, without the need for a central authority.

In addition to trading, users can stake their tokens on ShibaSwap to earn rewards and participate in yield farming. Earlier this year, ShibaSwap migrated to the layer-2 scaling solution, Shibarium, enhancing its features and improving user processes for adding and reducing liquidity, staking, and trend analysis.

Shibarium has made significant strides since its launch in August last year, surpassing five million total blocks processed and exceeding 400 million total transactions. It aims to enhance Shiba Inu's ecosystem's functionality and scalability, reduce transaction fees, improve speed, and provide infrastructure for decentralized applications on the network. This collaboration between DexTools and ShibaSwap is a positive development for the DeFi sector, demonstrating the growing acceptance and integration of DeFi platforms.