ShibaSwap 2.0 Upgrades and Pawzaar's New SHIB Burn Approach

Lucie, the marketing lead, teases the upcoming release of ShibaSwap 2.0, promising it to be more than just a regular DEX, hinting at a comprehensive portal experience.
Pawzaar, a rising NFT platform on Shibarium, has initiated a groundbreaking approach to SHIB burns, bridging tokens from Shibarium back to Ethereum to reduce the SHIB supply on Ethereum’s Layer-1 network.

In the ever-evolving world of Shiba Inu, exciting developments are taking center stage. The highly-anticipated ShibaSwap 2.0 upgrades have been hinted at, and NFT marketplace Pawzaar is introducing a groundbreaking approach to SHIB burns. Here’s the latest on what’s happening in the Shiba Inu ecosystem.

The Shiba Inu community is buzzing with excitement as Lucie, the marketing lead, teased the upcoming release of ShibaSwap 2.0. This isn’t your ordinary decentralized exchange (DEX); it’s set to become a complete portal experience. Lucie highlighted the complexity of its development, emphasizing that it’s not something that can be rushed. One notable feature is the Shiba Name Service, which promises to be a game-changer. The ShibaSwap team has been keeping the release date under wraps, adding to the anticipation. While some speculative dates surfaced, it’s clear that the team is taking a cautious approach to meet community expectations. This suggests that ShibaSwap 2.0 aims to revolutionize the DEX landscape.

Lucie’s earlier comments in April hinted at ShibaSwap 2.0’s comprehensive nature. It won’t just facilitate token swaps; it will serve as a crypto portal offering news, statistics, charts, and trends. The DEX is also set to reveal new designs, keeping them secret. This indicates a significant leap in development, with the goal of enhancing user engagement and providing additional value within the Shiba Inu ecosystem.

Turning our attention to the SHIB burn debate, Pawzaar, a rising NFT platform on Shibarium, has implemented a crucial operational upgrade. All SHIB burns on Pawzaar will now go to a wallet that bridges the tokens from Shibarium back to Ethereum, as requested by Lucie. This aligns with the community’s desire for burns to occur on Ethereum, ensuring a genuine reduction in SHIB supply on Ethereum’s Layer-1 network. This clarification comes after Shib CoOp’s inaugural SHIB burn on Shibarium sparked a heated debate, highlighting the importance of a protocol that genuinely impacts the SHIB supply. As the community-driven burn tracker, Shibburn, explained, burning a token on an L2 chain doesn’t affect the original token on the L1 chain.

Ensuring Genuine SHIB Burns

Lucie shed light on the burning process across both layers, emphasizing the need for burns to take place on the Ethereum network to impact the original SHIB token supply genuinely. Projects on Shibarium wishing to burn tokens must bridge SHIB back to the Ethereum network and then send it to the dead wallet. Pawzaar’s commitment to implementing this directive showcases their dedication to the community’s consensus on token burns. Notably, Pawzaar, which launched on October 24, witnessed a significant influx of users thanks to the SHIB Dreams collection. The high demand briefly overwhelmed their node provider, causing them to halt minting new NFTs temporarily.

In addition to these developments, Pawzaar is gearing up to introduce new collections and unveil the PAWPASS. They’ve hinted at upcoming partnerships and the introduction of PAWZONE utilities on their platform. Exciting times lie ahead for Shiba Inu enthusiasts.

As of the latest data, Shiba Inu is trading at $0.000008, slightly above the 20-week EMA at $0.00000798, making it an exciting time for Shiba Inu investors to keep a close watch on the market.