In a recent update from the Shiba Inu project’s lead developer, Shytoshi Kusama, the future trajectory of Shibarium, the layer-2 blockchain, has been outlined. With the much-anticipated launch of Shibarium behind them, Kusama has shared details about the upcoming developments, including the launch of the Wrapped BONE (WBONE) token, smart contract verification, and the migration of ShibaSwap to Shibarium.
Here’s What’s Next For Shibarium
The Wrapped BONE (WBONE) token, an integral component of the ShibaSwap ecosystem, is set to make its official entry soon. WBONE is the wrapped version of Bone ShibaSwap (BONE), which holds the distinction of being the designated gas token for Shibarium. Addressing concerns and questions surrounding the WBONE development, Kusama asserted that its progress remains on track.
Kusama also revealed that Shibarium’s smart contract verification process is scheduled for rollout within the coming week. Furthermore, the Shiba Inu team is preparing to renounce the BONE contract. Renouncing the contract effectively prevents the team from minting new BONE tokens, a move that has been eagerly anticipated by members of the SHIB army. The community has long asserted that the absence of BONE listings on prominent exchanges is tied to the need for contract renouncement.
Moreover, Kusama disclosed that the ShibaSwap decentralized exchange is gearing up for migration to Shibarium. The project’s commitment to transferring all Shiba Inu-related offerings to the new platform, including non-fungible tokens (NFTs) like SHIBOSHIS and the metaverse product “Shib: The Metaverse,” underscores the pivotal role Shibarium plays in the project’s ecosystem. With ShibaSwap as the first item on the migration agenda, Kusama emphasized that Shibarium’s development journey is still in its early stages.
Kusama stated, “Now on my end, we will focus on building decentralized systems and showcasing Shibarium projects,” marking a clear shift in the project’s development priorities.
Shiba Inu Milestones And Technical Progress
After a brief hiatus due to technical difficulties caused by overwhelming user interest, Shibarium was relaunched to the public through concerted efforts from Shiba Inu developers, the Unification team, and Polygon’s developers.
As of the current status update, Shibarium has reached significant milestones. The number of wallets interacting with the platform has surpassed 100,000, reaching a total of 101,508. Transactions processed on the network have exceeded 445,000, with a total of 349,206 blocks mined on the Shibarium mainnet. An average block duration of 5.1 seconds showcases the efficiency of the platform. Notably, the past day saw 66,058 transactions processed, indicating a healthy level of user engagement.
It’s worth noting that Shibarium’s initial launch on August 16 encountered issues that halted block production. However, the team appears to have resolved these issues. Just yesterday, Shytoshi Kusama, the lead developer of Shiba Inu, announced that Shibarium is now live and scaling optimally. Kusama stated, “Shibarium is LIVE and operating well! Now that we’ve proven that all funds are safu (as we said), and that Shibarium is ready for prime time, we will reopen our channels.”
At press time, SHIB traded at $0.00000810.
Featured image from Gfinity Esports, chart from TradingView.com