Shiba inu Developers Share Update on Upcoming Shibarium Launch 

Following its meteoric rise in the crypto market, Shiba inu is looking to bring in more functionality. To that end, its developers have begun to tease the launch of its layer-2 network. 

Taking the Shiba Ecosystem to New Heights

Earlier this week, the developers of the Shiba inu token confirmed that they are close to the launch of Shibarium – the layer-two network expected to run on the Ethereum mainnet. In an update shared with the community, the SHIB developers disclosed information about layer-two blockchains and what they believe Shibarium’s ultimate selling points will be. 

Primarily, the developers focused on the fact that Shibarium will offer a tool for the entire Shiba inu community to build and grow the project in order to fulfill their vision. They explained that while many community members believe that Shibarium will be a gambit to help boost the price of SHIB, this isn’t necessarily the objective. 

Instead, the developers believe that the new update will help to revolutionize the Shiba ecosystem entirely. They believe it can help remove barriers to entry, especially for small transactions. At the same time, they hope that Shibarium will help to optimize the speed and efficiency of developing decentralized applications (dApps) and integrating non-fungible tokens (NFTs). 

Much to Look Forward To

Although technical details about Shibarium are scarce, the developers believe this network could easily be the next big thing in the market. Shibarium is expected to act as a delegated proof-of-stake (PoS) layer-two blockchain network, which will be run and secured by delegators and validators who stake their SHIB tokens to get rewards and process transactions. 

However, instead of the traditional SHIB, these rewards are expected to come in the form of BONE – a governance token for the ShibaSwap decentralized exchange. BONE will move from being ShibaSwap’s native token to being the gas token for Shibarium. 

As for ShibaSwap, the developers have confirmed that the exchange will be moved to Shibarium once the latter goes live. This will help to improve the liquidity pools on Shibaswap, both in regular and table pairs. The integration of ShibaSwap is also expected to bolster volumes on the exchange and take it one step closer to competing with platforms like Uniswap. 

There is also the TREAT token, which is coming soon. The Shiba inu team has yet to explain how TREAT will function within the ecosystem, although they promised to share more details about more concepts soon enough. 

Another critical update is the launch of a token-burning mechanism for SHIB. This should help the leading meme coin become more deflationary, with tokens being burned as transactions are processed. The Shiba inu developers have claimed that all network transactions will have an implicit burn amount for SHIB, with the mechanism kicking in whenever a transaction is made within the network.

For now, there is no exact data for the release of Shibarium. However, the development team has reiterated that they are working tirelessly and something will be released “soon.” Several members of the Shiba inu community have already expressed their excitement over the new development, with some believing that this is just a stepping stone to other interesting updates from the Shiba inu development team.