The volume of assets locked in ShibaSwap, a decentralized exchange (DEX) from the developers of the Shiba Inu cryptocurrency, exceeded $1.5 billion over the past week. On the first day of the platform's operation, the total volume locked it reached $1 billion.
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For example, Uniswap, the largest DEX so far, aggregated $5.6 billion over the past four years of work. The growth in funds on ShibaSwap is associated with high annual interest rates (APR) from "yield farming."
However, the reliability of the ShibaSwap service remains questionable. The DeFiSafety portal rated it at 35% with a required rating of 70%. Also, one of the DeFi developers noted that all funds of users of the DEX can be withdrawn to one address. The project managers partially solved the problem, and also announced that in the future they will block the withdrawal of funds for a certain time.
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