Nikolas Sargeant
Shiba Inu’s decentralized exchange (DEX), ShibaSwap, is set to introduce liquid staking, a new feature aimed at elevating the DeFi experience for its users. Announced over the weekend by the Shibarium Updates (@Shibizens) channel, the upgrade promises to enhance liquidity while allowing users to earn rewards on staked assets without locking them in.
The liquid staking functionality will allow ShibaSwap users to stake their tokens while maintaining access to their funds. In return, users will receive liquid tokens, such as veTREAT, which can be used for trading or as collateral on other DeFi platforms. The veTREAT tokens also grant governance power, allowing holders to influence liquidity mining reward allocations.
Additionally, ShibaSwap is introducing a Karma Point system, where users can earn points by engaging in various activities like transferring Shiba Inu ecosystem tokens or providing liquidity. These points will increase voting power within the Shib Doggy DAO, which, though not yet live, is expected to launch before the end of 2024.
While the official launch date for liquid staking on ShibaSwap remains undisclosed, users can currently access the feature on K9 Finance, a Shibarium-based platform, which has already seen significant adoption since its September 2023 launch.
With ShibaSwap’s continued evolution, including its recent shift to Shibarium and the launch of ShibaSwap 2.0, this upgrade marks another significant step in expanding the platform’s DeFi capabilities.
