- The protocol introduced an aggregator where tokens could be traded between users.
- Users of the DEX also have the option of using its free token locker.
Baby Doge Coin (BABYDOGE), a competitor to Shiba Inu, has launched its own DEX platform called BabyDogeSwap. As a result of BabyDogeSwap’s release, the memecoin community now has access to previously inaccessible services. The protocol introduced an aggregator where tokens could be traded between users.
In addition to simple token trading, users of the DEX have the option of using its free token locker, checking out the Non-fungible Tokens (NFTs), and functionally creating farms and pools on demand. While Shiba Inu’s ShibaSwap exchange was the first of its kind, BabyDoge deserves some credit for being the first to create a decentralized exchange (DEX).
Long Way to Go
As the ShibaSwap exchange has become one of the most popular Decentralized Finance (DeFi) trading systems, many people are curious to see whether the BabyDogeSwap platform will overtake it.
According to statistics from CMC, ShibaSwap now sustains a daily trading volume of close to one million dollars. BabyDoge, the memecoin plans to build out a new trading platform while also capitalizing on innovations that will empower its community members and increase the value of its token.
The company has announced that anyone who utilizes their token burn facility to dispose of their BabyDoge will be eligible for reduced trading costs on the new exchange.
In addition, an ‘on-ramp’ function will be included in a ‘Virtual Crypto Card’ so that users may withdraw funds from their accounts and use the card to make purchases. The debut of BabyDogeSwap, which has amassed more than 1.9 million Twitter followers, is likely to improve general optimism about the future of its ecosystem.
