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DeFi

PAWSWAP is a decentralized exchange whose users can trade cryptocurrencies. It runs on the Shibarium Layer 2 chain and is built on Ethereum. Learn more here.

, it's no surprise that its crypto ecosystem relies heavily on community trends and internet opinions. This has led to quite a few controversies and disputes within the 

 community. One of the latest disagreements has spawned a brand new crypto project called PAWSWAP. To decide whether to invest in PAWSWAP, explore this guide and learn more about this unusual crypto project.

) on which users can trade cryptocurrencies. It runs on the 

 Layer 2 chain and is built on Ethereum. Compared to other crypto exchanges, PAWSWAP hopes to offer greater decentralization along with an extensive selection of trading tools.

PAWSWAP developed partly out of dissatisfaction within the Shiba Inu community. Some users were unhappy with the way Shiba Inu was handling its exchanges and feared that the ecosystem was becoming too centralized, so they decided to build an unofficial DEX with all the features Shiba Inu refused to add to its own exchange.

Led by pseudonymous developer PawKishi, several people began working together to create a unique exchange. They state that their system is meant to provide a seamless trading experience that doesn’t ignore the needs of its users. 

 (formerly Twitter), their main goal is simply to "build what the PEOPLE want."

There have been numerous clashes between the PAWSWAP team and Shiba Inu's lead developer, Shytoshi Kusama™. 

 with PAWSWAP, and some influencers have hinted that the PAWSWAP team may consist of previously dismissed Shiba Inu employees. In the past few months, PAWSWAP's website has removed many mentions of its relationship to the Shiba Inu ecosystem.

Though the project may originate in disenchantment with Shiba Inu's developers, its main goal is to become a truly decentralized exchange. The PAWSWAP platform is designed to be entirely community-run, without any single person directing its development. Theoretically, this can provide its users with a level of security, freedom and transparency not found on other Shibarium exchanges.

The emphasis on traders’ needs has led to an intense focus on community-driven innovation. Driven by countless people voting for desirable projects, PAWSWAP has begun to incorporate a broad variety of tools into its platform. Its eventual aim is to offer seamless 

, a user-friendly platform and in-depth financial analysis options.

The base system that manages PAWSWAP is Ethereum. This popular blockchain provides a stable, reliable foundation and ensures that the ecosystem is compatible with other web3 applications and programs.

, an Ethereum scaling solution that makes it quicker and more affordable to process items on the blockchain. It's an Ethereum Layer 2 protocol that can be used to develop a variety of decentralized applications (

) and other projects. Shibarium is run by the Shiba Inu development community.

 protocols of Shibarium to create their own exchange. The platform consists of coding and smart contract layers that work together to create an in-depth system with a simple, user-friendly platform. People can access PAWSWAP via the organization's website, create an account and follow on-site prompts to do things such as exchanging crypto.

PAWSWAP plans to implement a variety of features in order for users to take control of their financial decisions. Following are the 

The PAW Aggregator finds the best possible pair prices for any asset swap by looking at multiple exchanges, providing users with pricing analytics and recommending the optimal trade.

This feature integrates into payment gateways to make it easy for members to pay for products with crypto. It can partner with other 

 programs to allow secure and reliable crypto payments. Users can also use PAW Merchant to convert their crypto to fiat currency.

PAWSWAP’s community-driven governance model prioritizes individual community members. Everyone can meet in a decentralized space and vote on how they want the exchange to be run. Those who participate in governance receive rewards in exchange for their assistance.

This Layer 2 blockchain is where PAWSWAP deploys all of its utilities. It's a decentralized space that uses both proof of stake (

) consensus mechanisms to verify transactions.

 used to handle the community's money. The team of core developers can use these funds to aid in further developing PAWSWAP’s crypto ecosystem.

PAW Club adds an extra layer of social engagement to the decentralized space. People can create personalized profiles and discuss subjects such as 

 (DeFi). The PAW Club also allows people to propose ideas on how to improve the PAWSWAP system.

The PAW Burn portal lets people send PAW tokens to a dead wallet to help improve crypto values. So far, over 27 billion tokens have been burned.

. Users can choose a flexible staking model that lets them earn 3% 

 for as long as they wish to stake, or they can choose to fully lock PAW tokens for 13 weeks and earn 8% APR.

In 2023, PAWSWAP began developing infrastructure, launching the PAW token and conducting a closed round of alpha testing. As of mid-2023, PAWSWAP’s team is focusing on the final three stages of their road map, currently introducing their community-driven governance model and starting a beta testing program.

PAWSWAP hopes to launch publicly in late 2023 or early 2024. This will open up the ecosystem to more users, and will finally allow the public to view the system’s full capabilities. After expanding the community, the DEX can then work on addressing user feedback and implementing more user-requested features.

PAW is PAWSWAP’s native token. It provides a way to distribute rewards and discounts to community members who perform services for the ecosystem. PAWSWAP token holders also receive governance rights that allow them to vote in the 

The tokens were released in a stealth launch, with no announcement and no set distribution scheme. 

The PAWSWAP token started at a fairly low price of $0.0000000049 when it was first listed on exchanges. However, token prices quickly increased, and just one month later, PAW prices were 10x higher. After reaching an all-time high of $0.000000099219 on Mar 3, 2023, PAW began a slow yet steady decline to a current price of $0.000000010589 (as of Oct 23, 2023).

Many crypto experts believe that these pricing trends will continue.

, and suggests prices will drop by 7.3% in the upcoming month. However, despite a general downward trend for PAW prices, smaller increases are likely to take place in the near future. As more news is released about PAWSWAP, temporary popularity may boost the crypto’s price. Moreover — especially once the DEX’s public launch happens — users can expect to see higher PAW prices.

PAW’s price recently saw a sharp increase (on Oct 13, 2023) due to renewed interest in the project after the PAWSWAP team revealed on X that it’s been 

While this renewed interest does show some potential, all the controversy with Shiba Inu's team suggests that users should exercise caution when proceeding with an investment in PAW. Furthermore, knowing how speculative cryptocurrencies can be, it’s imperative that you always 

PAWSWAP’s decentralized exchange has the potential to provide users with a seamless trading experience and helpful services. However, its controversial beginnings and reliance on the Shibarium platform may create a tricky road to success. Unless future development greatly boosts the capabilities of PAWSWAP, investors might want to remain wary of this new crypto.

PAWSWAP (PAW): A Community-Driven Cross-Chain DEX

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