Marswap Crypto Exchange Review: Is It Worth Using for Shibarium Tokens?

When you’re trading crypto on a decentralized exchange, you don’t want to be stuck paying $50 in gas fees just to swap two tokens. You want speed, low costs, and tokens that actually matter to you. That’s where Marswap comes in - but only if you’re already deep into the Shibarium ecosystem.

Marswap isn’t another Uniswap clone trying to be everything to everyone. It’s built for one thing: trading tokens on Shibarium. Launched in 2023, it’s a niche DEX designed for users who believe in Shibarium’s potential and want to trade its native tokens without jumping through hoops. If you’re holding WBONE, RYOSHI, or any other Shibarium-based coin, Marswap might be your best bet. But if you’re looking to trade Bitcoin or Ethereum, you’ll be better off elsewhere.

What Makes Marswap Different?

Most decentralized exchanges - like Uniswap or PancakeSwap - support dozens of blockchains and thousands of tokens. Marswap does the opposite. It focuses on just one: Shibarium. This isn’t a weakness - it’s a strategy. By narrowing its scope, Marswap can optimize for speed, lower fees, and tighter integration with Shibarium’s infrastructure. You won’t find Solana or Avalanche tokens here. You’ll find RYOSHI, WBONE, and a handful of other tokens built specifically for the Shibarium chain.

The platform’s native token, MSWAP, has a total supply of 1 trillion tokens, and according to current data, the entire supply is already in circulation. That’s unusual. Most tokens have vesting schedules, burns, or locked liquidity. Marswap doesn’t. Whether that’s a red flag or just a different design choice depends on how much you trust the team behind it. There’s no public audit report available yet, so you’re relying on community trust and Shibarium’s own security.

Trading Pairs and Liquidity - Real Numbers

As of December 2025, Marswap lists only 4 coins and 17 trading pairs. That’s tiny compared to Uniswap’s 10,000+ pairs. But here’s the twist: most of the volume is concentrated. The RYOSHI/WBONE pair alone made up $1,518 of the $2,296 total 24-hour trading volume. That’s over 66% of all trading happening on the entire exchange. The second most active pair, WBONE/0XEE, only pulled in $57 in volume. This tells you something important: Marswap isn’t a general-purpose exchange. It’s a token-specific trading hub.

Spreads on Marswap range from 0.61% to 0.74%. That’s actually decent for a small DEX. Uniswap’s spreads can be higher during volatility, and centralized exchanges like Binance charge 0.1% - but they require KYC. Marswap doesn’t. No ID, no paperwork. Just connect your wallet and trade. If you value privacy and hate KYC, that’s a big plus.

Liquidity depth is thin. For RYOSHI/WBONE, the order book shows around $1,490 in total depth. That’s enough for small trades, but if you try to move $5,000 in one go, you’ll get slippage. This isn’t a problem for casual traders, but it’s a dealbreaker for anyone doing larger swaps.

The Launchpad: Where Marswap Tries to Stand Out

Marswap isn’t just a trading platform - it’s trying to be a launchpad. It offers tools and support for new projects that want to launch their tokens directly on Shibarium. This is where Marswap could grow. If a few high-quality projects use Marswap to launch, liquidity will follow. Right now, there’s no public list of projects that have launched through it. No success stories. No TVL data for launchpad pools. That’s a gap.

Compare that to PancakeSwap’s launchpad, which has launched over 200 tokens, many of which now trade with millions in volume. Marswap hasn’t reached that level. But it doesn’t need to. If just one or two strong Shibarium-native projects use Marswap’s launchpad and gain traction, the exchange could explode. The team claims to offer personalized support to project founders - something larger DEXs don’t bother with. That could be the secret sauce.

How It Compares to Other DEXs

Marswap is the underdog. It doesn’t compete on volume or token count. It competes on focus. If you’re a Shibarium believer, this is your exchange. If you’re looking for liquidity, you’ll be disappointed. But if you’re early, and you believe Shibarium will grow, Marswap might be the only place where you can trade those tokens without leaving the chain.

Pros and Cons - The Real Talk

• Pros: Zero KYC, low fees thanks to Shibarium, focused on real Shibarium tokens, launchpad for new projects, no gas wars like on Ethereum.
• Cons: Extremely low trading volume, thin liquidity, no public audit, no track record for launchpad success, only 4 tokens available, high volatility in volume (133% swings in 24 hours).

There’s no sugarcoating it: Marswap is risky. It’s not a place to park your life savings. But it’s not meant to be. It’s a playground for early adopters who want to test the waters of a new chain. If you’re already holding WBONE or RYOSHI, you might as well trade them here - you’re not losing anything by trying.

Who Should Use Marswap?

You should use Marswap if:

• You own Shibarium-based tokens and want to trade them without leaving the chain.
• You’re tired of paying $10+ in Ethereum gas fees just to swap a token.
• You believe in Shibarium’s long-term potential and want to support its ecosystem.
• You’re comfortable with low liquidity and high volatility - you’re not here for stability.

You should avoid Marswap if:

• You want to trade Bitcoin, Ethereum, or Solana.
• You need deep liquidity for large trades.
• You’re looking for a proven platform with audits, long-term track records, or community reviews.

Final Verdict: Early Days, But Promising

Marswap isn’t a top 10 DEX. It’s not even in the top 100 by volume. But it’s not trying to be. It’s a specialized tool for a specific community. And in crypto, that’s often where the biggest gains happen - not in the giants, but in the niche platforms that serve underserved ecosystems.

The 133% volume spike in 24 hours? That’s not a glitch. That’s a signal. Someone is paying attention. The fact that RYOSHI/WBONE dominates trading means people are actively using it. The launchpad could be the next step - if they attract even one solid project, liquidity could follow.

Right now, Marswap is like a small coffee shop in a quiet town. It doesn’t have the crowds of Starbucks. But if you like their beans, the barista knows your name, and the coffee is better than anything you’ve had elsewhere, you keep coming back.

Is Marswap safe? Not in the traditional sense. But crypto isn’t about safety anymore - it’s about opportunity. If you’re ready to explore the edges of the Shibarium ecosystem, Marswap is one of the few places you can do it without paying through the nose.

Next Steps if You’re Interested

If you want to try Marswap, start small. Buy $10 worth of WBONE or RYOSHI on a centralized exchange, send it to your wallet, switch to the Shibarium network, and swap it on Marswap. See how it feels. Watch the slippage. Check the confirmation time. If it works smoothly and you like the interface, you might stick with it.

But don’t rush. The crypto space moves fast, and new platforms pop up every week. Keep an eye on Shibarium’s official updates. If the chain gains more adoption, Marswap could grow with it. If not, it might fade into obscurity - like dozens of other niche DEXs before it.

Right now, Marswap isn’t for everyone. But for the right person - someone who believes in Shibarium and wants to trade its tokens without friction - it might just be the perfect tool.