The Shiba Inu community and its ecosystem were dissatisfied with the unsuccessful introduction of Shibarium. The layer-2 scalability protocol faced numerous challenges and raised worries among various stakeholders. Nevertheless, it appears that these problems have since been addressed and resolved.
Shytoshi Kusama, the lead developer of the Shiba Inu network, released the “Shibarium Scaling Final Update.” According to the provided information, Shibarium has been confirmed to be live and functioning well. In the announcement, it was highlighted that even prior to its official public launch, Shibarium had already attracted an impressive count of 65,000 wallets and had facilitated an astonishing 350,000 transactions.
Shytoshi further noted that the network is currently filled with a captivating variety of tokens. These ranged from unique and lighthearted to substantial and even some that might not be suitable for all audiences. It’s uncertain which of these tokens will rise to prominence.
Furthermore, there are a total of 19,677,336.8931 BONE that have been staked within Shibarium. While assuring the safety of all funds, Shytoshi also emphasized the timeframes for withdrawals. He explained that for certain tokens, the withdrawal process could take from 45 minutes to 3 hours, and for BONE, it might extend to an entire week.
He went on to clarify that this delay is not a glitch but rather an intentional feature implemented for security reasons. These measures have been instituted to provide users with a sense of security as their digital assets are transferred from one point to another.
Also Read: Shiba Inu: Shibarium Gas Token BONE Continues Bullish Stride
Polygon network lends a helping hand to Shiba Inu
Earlier, Shytoshi had mentioned that the team was seeking aid from some influential allies. The developer stated that he would disclose their identities at an appropriate moment. In his most recent blog post, Shytoshi expressed his appreciation for the Polygon network. He wrote,
“Quickly after the incident began, I called Sandeep from Polygon directly and without a second thought, he helped provide additional resources to ensure a perfect outcome to the situation. And that, is why our pivot to fork Polygon was the correct one.”
Even though Shibarium is now operational, SHIB has experienced a decrease of 1.90% in value within the past 24 hours. Currently, the asset is being traded at a relatively low price of $0.000007967.
Also Read: Shiba Inu Might Hit $0.01 In These Many Years: Here’s The Math