SHIB Hits 2-Month High on Shibarium Launch Update

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With the crypto markets seeming to be on the road to recovery, the Shiba team decided to announce what the Shibarium network has in store.

While the team didn’t provide an exact date for the Shibarium beta release – and made it clear that they wouldn’t drop hints when it was – they did say the launch was imminent.

Reducing gas costs is a priority

At the forefront of features promised for Shibarium are lower gas charges. As a scaling solution based on the Ethereum blockchain, the Shibarium network aims to save users of SHIB, BONE, and LEASH tokens from the high gas fees that can arise when the network is congested.

Additionally, the team hinted at the ability to exit the chain for more private transactions – which could be an asset or a liability for the network, depending on how you view the situation – as this ability could attract either benign fans of privacy coins or cybercriminals. , including the crypto space, unfortunatelydoes not lack.

“This layer aims, as a protocol, to work on top of existing blockchain networks, allowing faster, cheaper, and more private transactions to be processed off-chain, while relying on the security of the blockchain underpinning. underlying.”

OS for all

The chosen token to power transactions on the Shibarium network is BONE, which will be the native asset to pay gas fees on the upcoming project. The token has a total supply of 250 million, of which 20 million has been reserved to reward validators and delegators on the network.

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In order to generate interest in the two new roles, the development team announced that a faucet to test BONE tokens will be up and running soon.

Burn Mechanics and ShibaSwap merge

As requested by the Shiba community, token burning will be coming to Shibarium. While no release date has been confirmed for this feature either, the dev team said that every transaction on the network “will have an implicit burn amount for the SHIB token.”

SHIB reacted with an immediate price surge, alongside most of the market, and reached above $0.000011 for the first time in months.

The team also announced that ShibaSwap will be integrated into the Shibarium mainnet, ensuring the community has easier access to SHIB tools and functions.

The Shiba developers promised more updates in the near future and directed curious users to the Documentation section.

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