According to Foresight News, ShibaSwap has expanded to the Shibarium network, allowing users to create new liquidity pools and earn fees by providing liquidity. The increase in transaction volume on the Shibarium network will lead to a higher burn rate of SHIB tokens, thereby reducing the total supply of tokens.
The Shibarium network is an Ethereum L2 solution built by the SHIB team. This expansion is expected to enhance the functionality of the ShibaSwap platform, providing users with more opportunities to earn fees through liquidity provision. The increased transaction volume on the Shibarium network is also anticipated to accelerate the burn rate of SHIB tokens, which will ultimately decrease the total supply of tokens in circulation.
This development is a strategic move by the SHIB team to increase the utility and value of the SHIB token. By expanding to the Shibarium network, they are not only providing more opportunities for users to earn fees but also actively managing the token supply to ensure its stability and growth.