Shytoshi Kusama, the mysterious lead developer of the Shiba Inu (CRYPTO: SHIB) project, lauded the work of the team instrumental in bringing the ecosystem's decentralized exchange ShibaSwap to the layer-2 network, Shibarium.
What Happened: In a post on social platform X, the pseudonymous personality, also believed to be the co-founder of Shiba Inu, wrote that he is proud of the efforts put in by the team in linking the two of the ecosystem's biggest platforms. Kusama had a special word of appreciation for Kaal Dhairya, a key developer in the Shiba Inu ecosystem.
"So proud of the improvements and innovations @kaaldhairya and the team have made while bringing ShibaSwap to Shibarium."
In what could be a signal of more such developments in the ecosystem, Kusama added, "So much more in store as we march forward. Stay tuned #SHIBARMY!"
Kaal Dhairya responded to Kusama's celebratory post and assured the SHIB community that new enhancements and updates would be shipped regularly going forward. "It's not a race it's a marathon," the developer remarked.
Why It Matters: ShibaSwap, which launched in July 2021, has been operating as a DEX on the Ethereum (CRYPTO: ETH) blockchain, providing services such as staking, liquidity pools, and yield farming.
With the latest development, the DEX went multichain, allowing users to swap tokens across both chains, thereby managing liquidity in a much better way.
Shibaswap’s launch also provided a solid use case for Shibarium–a planned endeavor by Shiba Inu to rise above its memecoin image and add more value to the tokens associated with the ecosystem.
Price Action: At the time of writing, SHIB was exchanging hands at $0.00002489, down 2.91% in the last 24 hours, according to data from Benzinga Pro.
Image via CryptoFX on Shutterstock
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