Shiba Inu’s most-awaited development Shibarium is currently being built and it could be launched by the end of the year. The firm developing the layer-2 network confirmed that the Shibarium documentation will be released in Q3 of 2022. Therefore, the documentation might be out anytime between July to September this year.
During a recent Q&A session on Discord, a user asked the lead developer of ShibaSwap, Shytoshi Kusama about building products on Shibarium. Shytoshi urged developers to create products on Shibarium when the layer-2 solution is fully running and operational post-launch.
“There is no one stopping anyone. I saw the SHIB children’s book. DO IT.” said Shytoshi on Discord.
For the uninitiated, Shytoshi refers to the SHIB children’s book as an example of how the community is free to work on SHIB-related products. The Shiba Inu children’s book titled ‘Shiba Goes to the Moon’ shows the Shiba character on its journey to the moon. The book is authored by Cristina Tello and Abel Ortiz with a tongue-in-cheek narration of the Shiba Inu ecosystem.
However, the children’s book is an in-real world development, and products built on the upcoming Shiabrium network will be online. Few details are known about ‘what’ will be built on the layer-2 network as utility products. Moreover, once the network is launched, an array of developers are expected to build products for better scalability of the token.
Shiba Inu: Shibarium
Shibarium could scale the price of the Shiba Inu token sustainably with its in-built ‘burn mechanism’. Reports state that the team might charge a nominal fee for transactions that would then be used to ‘burn’ SHIB. Shibarium could be a 24/7 ‘burning mill’ and remove SHIB tokens out of circulation regularly by making them scarce. Therefore, Shibarium could be the driving force to take SHIB towards the path of reaching $0.01.
Shiba Inu Discord moderator, Queenie revealed a hypothetical calculation early this year that Shibarium could burn trillions of tokens yearly. Read here to know more about Queenie’s hypothetical estimations. Nonetheless, the estimation is hypothetical only and is not an official plan to ‘burn’ tokens laid out by the SHIB team.
At press time, Shiba Inu was trading at $0.00001107 and is down 2.7% in the 24 hours day trade. It is also down 87.2% from its all-time high of $0.00008615, which it reached in October last year.