In the week since its launch, decentralised exchange (DEX) Shibaswap has raised $1.54bn in assets, according to service DeFi Llama.
DEX was launched by the creators of a Dogecoin meme cryptocurrency clone called Shiba Inu (SHIB), as well as LEASH and BONE.
In comparison, Uniswap and Sushiswap have $5.82bn and $3.32bn in blocked funds respectively at the time of writing.
Users of the media platform Reddit have questioned the technical quality of DEX. Service DeFiSafety rated Shibaswap's reliability at 35%.
In May 2021, the price of Shiba Inu soared 140% overnight, amidst which the average fee for an Ethereum transaction reached $60.
Vitalik Buterin, who turned out to be the largest holder of SHIB tokens, burned 90% of the coins he owned, worth more than $6.5 billion.
Recall that bitcoin exchange Coinbase Pro added Shiba Inu to its listing in June, after which the cryptocurrency's price soared by 22%.