SHIB rises to the highest level in two months after Shibarium’s launch update

With the cryptocurrency markets seemingly on the road to recovery, the Shiba team decided to announce what’s in store for the Shibarium Network.

Although the team didn’t give an exact release date for Shibarium’s Beta — and made it clear that they wouldn’t drop hints as to when it might happen — they did mention that a launch is about to happen.

Low gas fees are a priority

First of all, among the promised advantages of the shiparium is the low gas fee. As a scaling solution built on the Ethereum blockchain, the Shibarium network aims to spare SHIB, BONE, and LEASH token users the high gas fees that can occur when the network becomes congested.

In addition, the team hinted at the possibility of off-chain for more private transactions — which could be an asset or a liability to the network, depending on how you look at the situation — as this potential could attract benign privacy-coin lovers or cybercriminals, Which unfortunately does not suffer from a shortage of cryptographic space.

“As a protocol, this layer is intended to run on top of existing blockchain networks, enabling faster, cheaper, and more private transactions that can be processed off-chain, while building on the underlying blockchain security.”

bin for everyone

The token chosen to power transactions on the Shibarium network is BONE, which will be the initial asset for paying gas fees for the upcoming project. The total token supply is 250 million, of which 20 million is allocated to reward validators and delegates on the network.

To increase interest in the two new roles, the development team has announced that a faucet to test BONE tokens will be running soon.

Burn Mechanics and ShibaSwap merge out of the question

At the request of the Shiba community, burning tokens will come to the Shibarium. While no release date has been confirmed for this feature either, the development team has stated that every transaction on the network “will have an implicit copy amount for the SHIB token.”

SHIB reacted with an immediate price rally, along with most of the market, rising above $0.000011 for the first time in months.

The team also announced that ShibaSwap will be integrated into the Shibarium Mainnet, ensuring easy access to SHIB tools and features for the community.

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

Post-SHIB appeared to a two-month high in Shibarium’s launch update debuting on CryptoPotato.

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