DEFI

ShibaSwap: The Vampire Dog? Gas fees surpass Uniswap and Sushi, bone digging time has arrived

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ShibaSwap: The Vampire Dog? Gas fees surpass Uniswap and Sushi, bone digging time has arrived

It has been reported that the Shiba Inu project includes not only SHIB, but also the leash token LEASH and the bone token BONE. Today, the platform ShibaSwap, where these three tokens can be traded, has finally launched, surpassing the well-known decentralized exchanges Uniswap and SushiSwap by consuming a large amount of Gas Fee on the Ethereum network.

Attention: This platform is considered high-risk, please assess the risks before using. Renowned developer Banteg pointed out that the contract only has a single signature, which may pose a risk of exit scam. After being alerted, the Shiba developers have implemented multisig and time lock features.

Gas Fee Usage Surpasses Uniswap and SushiSwap

ShibaSwap went live and triggered a significant amount of interaction with Shiba Inu contracts, accounting for 7.41% of Ethereum's gas fee usage within three hours, surpassing the gas fees of Uniswap and SushiSwap. Even the gas fees for using LEASH exceeded those of Axie Infinity.

Acting as a Bloodsucker, All People Digging Bones

From ShibaSwap's menu, it can be seen that it offers several functions:

  • DIG: Providing liquidity
  • FETCH: Similar to the early days of SushiSwap's vampire attack, you can use SushiSwap's liquidity certificate SLP, or Uniswap's liquidity certificate LP, to earn mining rewards in BONE. Eventually, this liquidity will be moved to ShibaSwap.
  • BURY: Staking single coins to earn mining rewards in BONE.
  • SWAP: Coin exchange function
  • BONEFOLIO: Platform data analysis page
  • WOOF: Staking ShibaSwap's liquidity certificate SSLP to earn mining rewards in BONE

Different pools have different mining reward weights, where AP represents weight distribution:

Puppy Pools

  • BONE-ETH ShibaSwap Exclusive — 3000 AP
  • LEASH-ETH — 700 AP
  • SHIB-ETH — 500 AP

Big Dog LP Pools

  • ETH-WBTC — 300 AP
  • ETH-USDC — 300 AP

Swap LP Pools

  • SUSHI-ETH — 300 AP
  • UNI-ETH — 300 AP

Young Pup Pools

  • LINK-ETH — 100 AP
  • DAI-ETH — 100 AP

Newborn Pup Pools

  • xFund XFUND-ETH — 50 AP
  • Synthetix Network Token SNX-ETH — 50 AP
  • Meme MEME-ETH — 50 AP
  • The Graph GRT-ETH — 50 AP
  • Unit Protocol New DUCK-ETH — 50 AP
  • Vectorspace AI VXV-ETH — 50 AP
  • Dogelon Mars ELON-ETH — 50 AP