• 15 June, 2024
News

Shibarium Network: Each Transaction Burns SHIB

Shiba Inu’s Shibarium Network recently announced that ShibaSwap BONE token would be the gas token for Shibarium operability. With BONE being the only gas fees token on Shibarium, the network has officially announced that each Shibarium Network transaction would burn SHIB.

Sharing the update, the Shibarium Network tweeted:

In a further tweet, the Shibarium Network states their focus is directed towards “delivery at this time.” A beta launch is in the works, where any further protocol information would be shared via their various channels.

The Shibarium team also clarified that the layer-2 (L2) solution is the Shiba community’s own. It enables a robust foundation to initiate innovation in the Shiba Inu ecosystem. In a recent Unification Foundation developers’ meeting, the finalization and launch of the L2 solution was discussed.

Kusama’s team is reported to have been busy “aligning, onboarding, and finalizing” Shibarium prior to an official release. This Shiba Inu ecosystem development would enable speedy and affordable transactions with a fine user experience.

Regarding BONE being the only gas fee token necessary to operate in the protocol, Shibarium Network states,

no other tokens will be necessary to operate within the protocol.

Courtesy of the official Shibarium account, the Shibarium team reportedly states,

Shibarium has been developed for Shib token and not for the sake of other projects who claim ownership or speculation surrounding its operability dependency on any other tokens.

In related news, Shiba Inu’s BONE token is whitelisted on the OpenOcean DEX aggregator. OpenOcean tweeted:

SHIB and BONE have been witnessing interesting price movements lately. At press time, while SHIB is trading at $0.000008472 (up 2%), BONE is trading at $1.10 (up 6%), per CoinMarketCap (CMC).

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