Shibarium TVL Rallies Amid New Developments Within the Ecosystem
- The new DAMN token from WoofSwap looks to be the primary factor in the TVLs surge.
- The community celebrated a major milestone today when Shibariums TVL reached $3.38M.
Shiba Inu (SHIB) has lately caused quite a stir in the crypto market. A combination of the meme coins rising price and the Shiba Inu L2 Shibariums record-breaking TVL performance sent shockwaves.
Significant investor interest was immediately piqued by this rise, after the previous big price corrections observed by Shiba Inu. The freshly revealed DAMN token from WoofSwap looks to be the primary factor in the Shibarium TVLs meteoric surge.
Major Milestone
As per information provided by DefiLlama, the Shiba Inu community celebrated a major milestone today when Shibariums TVL reached $3.38 million. The communitys effective attempts to boost SHIBs tokenomics were highlighted by this dramatic surge in the Shiba Inu L2s TVL, which came after a slew of new features were added to Shibarium, including the debut of KNINE and DAMN tokens.
As a decentralized exchange (DEX) built on top of the L2, WoofSwap introduced the DAMN token to Shibarium. In contrast, Shiba Inus collaboration with K9 Finance gave rise to the KNINE token, a token for liquid staking derivatives.
Also, in line with the DAMN tokens announcement, Shiba Inus marketing head LUCIE recently brought attention to the significant support WoofSwap provided to the meme coins ecosystem. In this regard, Lucie emphasized the critical role that WoofSwap plays in the ecosystem of the meme coin by significantly boosting Shibarium transactions and Shib burn.
At the same time, as indicated before, the increase in TVL demonstrated a substantial growth in the quantity of cryptocurrency assets held inside the Shibarium network. The increasing interest and involvement of investors in Shibariums DeFi protocols and applications was highlighted by this.
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Read more: https://thenewscrypto.com/shibarium-tvl-rallies-amid-new-developments-within-the-ecosystem/
Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
