Shiba Inu-Linked Paw Swap Shares New Growth Update, Here’s What It’s Cooking

Paw Swap, the decentralized exchange (DEX) linked to Shiba Inu’s Layer 2 protocol, Shibarium has unveiled its latest growth update, reinforcing its mission to stay transparent. Taking to its makeshift Twitter account, the protocol’s burn tracker for its native token, $PAW, said its new marketing wallet trackers are nearly ready.

While our main twitter issues are being resolved we continue to work on transparency

Our new marketing wallet trackers are nearly ready. Here’s a sneak peak. #paw #pawswap #pawfamily pic.twitter.com/JN6Cp4YA4s

— PawBurn🔥 (@Pawburn_io) March 14, 2023

Shibarium is being designed to be a fully functional protocol that will be self-sustaining. One of the first applications that will be launching on the protocol is Shibarium, whose beta version, PuppyNet, went live recently. With Paw Swap, the newly shared update is a testament to the steady growth of the entire meme coin ecosystem.

What Shiba Inu is trying to achieve might not be new in the broader crypto ecosystem, but in the meme coin ecosystem, it is certainly pioneering the push into creating its own smart contract hub. Shibarium is designed to serve as a more enhanced tool on Ethereum with promises to fasttrack transactions significantly while also making them cheaper.

Shiba Inu’s Shibarium protocol will be competing with the likes of Optimism and Base, and while Paw Swap remains one top name already building on it, there are confirmations of thousands of developers working on one solution or the other.

PAWSWAP token

The PAWSWAP token is the digital currency designed to power the Paw Swap ecosystem and is automatically among the ERC-20-based assets in the Shibarium ecosystem. The token is currently changing hands at $0.00000005307, down by 6.55% in the past 24 hours, a trend that is antagonistic to the rest of the tokens in the meme coin’s ecosystem.

Irrespective of the current outlook, PAW is occupying a very unique position in the Shibarium ecosystem, and chances are that its growth will be closely linked to the overall adoption of the L2 protocol in the near future.