ChainCatcher news, the DEX ShibaSwap related to Shiba Inu (SHIB) has announced that it is now live on the Shibarium blockchain. Developers state that increasing transactions on the Shibarium blockchain will enhance the SHIB burn rate, thereby reducing supply.New liquidity pools have been launched on Shibarium, allowing traders to swap tokens on the network and earn a share of the trading fees from providing liquidity. Data shows that as of Thursday, ShibaSwap's TVL exceeded $25 million, with a trading volume of $1.7 million in the past 24 hours.

ChainCatcher message, Shiba Inu developer Kaal Dhairya posted on social media, confirming the relinquishment of control over the ShibaSwap governance token BONE's smart contract, and will continue to build a decentralized, permissionless system for the benefit of the community.This action means that the smart contract creator has given up control over the token, making BONE immune to future manipulation and fully decentralized.

ChainCatcher news, Shiba Inu developer ShibDev4Evr tweeted that ShibaSwap is the only official DEX of the Layer2 solution Shibarium, "claiming that other projects may be scams. Some people are unethically using the name and association of SHIB for personal gain and token listings while collaborating with SHIB, users and exchanges please be cautious." (source link)

According to ChainCatcher news, on-chain data shows that the address marked as "Binance 8" has staked 40 trillion SHIB on ShibaSwap, worth approximately 36 million USD. (source link)