With the crypto markets seemingly on the mend, the Shiba team decided to announce what Shibarium Network has in store.
Although the team did not indicate an exact date for the release of the Shibarium beta, and made it clear that they would not give any clues as to when that will be, they did state that the release is right around the corner.
Lower GAS rates are a priority
First of all, among the features fiance for Shibarium it is lower gas rates. As a scaling solution built on the Ethereum blockchain, the Shibarium network aims to spare users of SHIB, BONE and LEASH tokens the high gas fees that can occur when the network becomes congested.
Furthermore, the team hinted at the possibility of going off-chain for more private transactions, which could be an asset or a liability for the network, depending on how you view the situation, as this ability could attract fans of coins from privacy benign or cybercriminals. , which the crypto space, unfortunately, has no shortage of.
“This layer is intended, as a protocol, to work on top of existing blockchain networks, allowing faster, cheaper, and more private transactions to be processed off-chain, while still relying on the security of the underlying blockchain.” .
BONES for everyone
The chosen token to power transactions on the Shibarium network is BONE, which will be the native asset to pay gas fees in the upcoming project. The token has a total supply of 250 million, of which 20 million has been set aside to reward validators and delegators on the network.
In order to generate interest in the two new roles, the development team announced that a faucet for testing BONE tokens will be live soon.
Incoming merger of Burn Mechanics and ShibaSwap
As requested by the Shiba community, Token Burn is coming to Shibarium. Although no release date for this feature has been confirmed either, the development team stated that every transaction on the network “will have an implicit burn amount for the SHIB token.”
SHIB reacted with an immediate price hike, along with most of the market, rocketing above $0.000011 for the first time in months.
The team also announced that ShibaSwap would be integrated into the Shibarium Mainnet, giving the community easier access to SHIB tools and features.
The Shiba developers have promised more updates in the near future and have directed curious users to the documentation section.
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