Decentralized exchange belonging to the Shiba Inu (SHIB) ecosystem ShibaSwapIt has been reported that plans are being prepared for the Yield Farming feature to come to .
This upcoming development was announced by the Shiba Inu team through a community feedback forum created on the Discord channel.
shiba inu Images shared by MILKSHAKE, one of their team members, show the team behind the project creating a new forum via Discord and sharing a recommendation on whether to start a Yield Farming on ShibaSwap.
According to the screenshot shared by MILKSHAKE, the suggestion gathering on Yield Farming proposal has already started and will end on Thursday, June 9, 2022 at 00:00 UTC.
📢The @Shibtoken Discord opens forum, and a community feedback channel for farming-proposal-feedback for #ShibaSwap.
Deadline for Feedback on the channel up until Wednesday 5pm PST // 8pm EST
More information on the attached images: pic.twitter.com/x0KuZEnYBJ
— MILKSHAKE (@shibainuart) June 6, 2022
Why Did ShibaSwap Choose Yield Farming?
Curious members, examining the relevant screenshots, tried to identify the operations and functionality of the decentralized ShibaSwap exchange.
Since its launch, the decentralized trading platform has performed multiple functions, including handing out rewards to fans on various occasions.
However, the Shiba Inu team believes that ShibaSwap has not yet reached its full potential and could find further success in other areas, including Yield Farming.
In addition to these developments, the Shiba Inu team suggested three features that they plan to implement in ShibaSwap, and they are as follows:
“Try to distribute cumulatively for all rewards instead of pressing one by one; external projects can provide rewards for their pairs in the form of their own token(s) as well as improved gas structure.”
The proposal will be made through the Doggy DAO, which was launched earlier this year to get the community to vote on whether the Yield Farming initiative should go live.
The initiative, if implemented, will try numerous ways in which Shiba Inu enthusiasts can earn passive income. Yield Farming, a system that allows users to earn rewards through decentralized finance. With this system, SHIBArmy members will be allowed to borrow and lend Shiba Inu ecosystem tokens and earn rewards.
Meanwhile, the Shiba Inu community has been presented with more ways to generate passive income, including burning SHIB and locking in $LEASH and Shiboshi on designated vehicles.
Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, KoinFinans and the author of this content cannot be held responsible for personal investment decisions.