Shibaswap’s locked value reaches $1.5 billion in a week

Over the week since its launch, the decentralized exchange (DEX) Shibaswap drew in assets totaling $1.54 billion, according to the service DeFi Llama.

The DEX was launched by the creators of the meme-cryptocurrency Dogecoin clone named Shiba Inu (SHIB), and by the companies LEASH and BONE.

For comparison: at the time of writing, the total value locked on Uniswap and Sushiswap stood at $5.82 billion and $3.32 billion respectively.

Reddit users усомнились the DEX’s technical reliability. The DeFiSafety service оценил Shibaswap’s reliability at 35%.

In May 2021, the Shiba Inu price surged by 140% in a day, amid which the average Ethereum transaction fee reached $60.

Vitalik Buterin burned 90% of his coins valued at more than $6.5 billion.

In June, the bitcoin exchange Coinbase Pro added Shiba Inu to its listing, after which the cryptocurrency’s price jumped 22%.

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