One of Singapore’s leading cryptocurrency trading platform, Bitget, has announced the announcement it will be listing two new tokens from the Shiba Inu ($SHIB) ecosystem: Doge Killer ($LEASH) and PawSwap ($PAW).
Both tokens are being listed on the exchange’s innovation zone, which Bitget describes as one “mainly for trend tokens (initial) listing, which comes with a 60-day valuation period to determine if the trading pairs maintain listing criteria.
Trading of LEASH and PAW is available immediately, in pairs against USDT, but only on the spot market. Deposits are already available, while withdrawals will not open until tomorrow.
This move by Bitget is likely to be a serious liquidity catalyst for both tokens, as they have had a relatively low presence on major exchanges until now. While both tokens have recently been listed on Gate.io, and LEASH is also traded on OKX, volumes on decentralized exchanges are still twice as high as on centralized venues.
LEASH is the second token created within the Shiba Inu ecosystem, and “was initially used as a rebase token to track Dogecoin’s price. However, SHIB developers decided to change LEASH to an ERC-20 token. LEASH holders can stake their tokens in the liquidity pool and earn xLEASH as rewards.”
PawSwap is a decentralized exchange that is set to allow users to swap tokens at a discount and donate their savings to a charity of their choice when it’s launched on Shibarium, Shiba Inu’s layer-2 scaling solution. PAW is the platform’s native token.
The LEASH and PAW listings have taken place ahead of the official launch of Shibarium. Both tokens are expected to have applications in the upcoming release, making their listing on Bitget even more significant. Interestingly, the delay in the release of Shibarium may have worked in favor of both tokens, as they have gained traction during this period and attracted the attention of investors.
Bitget, it’s worth noting, is a leading cryptocurrency trading platform by volume, as it registered a trading volume of nearly $500 million over the last 24-hour period.
Featured image via Pixabay.