Shibaswap is a decentralized exchange built on the Ethereum blockchain, allowing users to trade cryptocurrencies without intermediaries. One of the cryptocurrencies supported on Shibaswap is the native token of the Shiba Inu project, SHIB. SHIB is a cryptocurrency that has gained popularity due to its cute dog-themed branding and its low price, which makes it accessible to many small investors.
On Shibaswap, users can trade SHIB for other cryptocurrencies such as Ethereum (ETH) or Wrapped Bitcoin (WBTC). The exchange uses an automated market maker system, which means that the price of assets is determined by supply and demand. This allows for trading to occur 24/7 without needing a centralized authority to set the prices. Shibaswap also allows users to earn rewards for providing liquidity to the platform, which is an incentive for traders to participate in the ecosystem.