ShibaSwap is a decentralized exchange (DEX) built on the Ethereum blockchain that allows users to trade cryptocurrencies without intermediaries. It was launched in July 2021 by the team behind the Shiba Inu (SHIB) token, a meme-inspired cryptocurrency similar to Dogecoin.
ShibaSwap is designed to be a community-driven platform, with users able to provide liquidity to the exchange and earn rewards in return. It features a unique rewards system, where users can earn Shib tokens, the native token of the Shiba Inu ecosystem, website by staking other tokens on the platform. Shib tokens can be used for governance and utility purposes, such as voting on proposals or participating in the platform's token launchpad.
Like other decentralized exchanges, ShibaSwap offers a high level of transparency, security, and decentralization. However, as with any cryptocurrency exchange, users should exercise caution when using ShibaSwap and do their own research before investing in any tokens.