Engineering, Web Development
Take part in Shibarium
You can enhance your business with Shiba Inu’s new L2 blockchain technology! We invite you to participate in the beta, become a validator, work with us, or collaborate with us. A new era has begun; we all need to contribute to making the world a better place by using this powerful, fast, and low cost technology. WOOF.
Shibarium has a specific purpose
It is intended to rival EVM-based Layer 2 solutions such as Optimism and Arbitrum with this, a new Layer 2 protocol developed by the Shiba Inu community. By offering a scalable solution to Shiba Inu community applications, shibarium enables them to handle increased system demands more effectively.
It’s token burn mechanism applies deflationary pressure to $SHIB tokens, making it unique.
A chain containing shibarium
This Layer-2 blockchain network was created by the Shiba Inu community on Ethereum. It aims to expand Shiba Inu from a meme coin into a comprehensive ecosystem with DeFi applications, metaverse applications, and blockchain games. To address Ethereum’s scalability issues, It uses a proof-of-stake model to improve transaction speeds, reduce fees, and facilitate decentralized app development.
Is there a release date for Shibarium?
Shibarium is scheduled for launch in May 2023, according to its documentation. Currently, the Layer 2 network is in its testnet phase, with over 20,000 users staking and validating natively. You can join the its testnet by visiting Shibariumtech.
The Target Demographics
Depending on network activity and demand for block space within it’s ecosystem, the amount of SHIB tokens this will burn remains uncertain. The initial supply of over 1 quadrillion tokens could be significantly reduced if a flourishing ecosystem of DeFi, Metaverse, and GameFi applications emerges, leading to billions of tokens being burned.
SHIB burnt by Shibarium
It fails to gain enough momentum and compete with Layer 2 solutions like Arbitrum and Optimism, the burn may not have a sufficient impact on the price or fundamentals.
Shibarium has a unique token burn mechanism.
Shibarium offers faster transaction speeds
A quarter million SHIB tokens are burnt every day by Shiba Inu holders.
Three percent of the basic fee gets locked away.
Faster transactions and lower fees.
A Layer 2 protocol called Shibarium is in the works
Burn rate of Shibarium in SHIB
According to one responder, Shibarium developers had earlier posted that they would burn 111 trillion SHIB annually, which led some respondents to assume that there was some kind of error in SHIB BPP’s post.