Shibarium is simply the long-awaited Layer 2 blockchain solution to be developed. It is a blockchain layer running on Ethereum. The idea for Shibarium is to take over a large portion of SHIB transactions so that it doesn’t just depend on Ethereum.
On January 5, 2023, Shibarium provided an update regarding its upcoming beta network.
Shibarium update 🧵
As we near the launch of the upcoming Shibarium Beta Network, we would first like to thank the Shiba community for bringing so much energy and excitement regarding the upcoming phased rollout.
1/6 🧵
— Shibarium Network (@ShibariumNet) January 4, 2023
In the Twitter thread, it added: “We would like to announce that we have been monitoring and drawing attention to rumors in addition to claims related to or required for the use of other tokens on the network. This is to confirm and validate from us, the official source, that BONE is and remains the only token chosen for gas fees and usage.”
It was further mentioned that “no other tokens are required to work within the protocol. And to be absolutely clear: Shibarium was developed for Shibtoken and not for other projects claiming ownership or speculation about its operability dependency on other tokens. This layer belongs to the community and their solid foundation for innovation and further development of SHIB as an ecosystem. It will always include support for Shiba Inu and his growth.”
It must be noted that it was important to hear from the Shib Army as there are many rumors that other tokens would be needed to run Shibarium and that BONE would not be the main token. It is now clear that this is not the case and just as many had believed from the start, Bone will be for Shibarium what ETH is for Ethereum.
The Shiba Inu coins
There are currently several tokens in the Shiba ecosystem. For example, SHIB – Shiba Inu (SHIB), the original Shiba meme coin, BONE – Shiba Inu’s governance and utility token, allows holders to vote on the development of the project, and will also be Shibarium’s utility token.
In addition, LEASH, the most expensive Shiba Inu coin with limited supply, where its holders can stake the coins in liquidity pools to earn rewards. TREAT, the newest member of the Shiba Inu family, was only introduced last summer. It is also a token that rewards holders but has various other functions. This token will find a place in the ShibaSwap DEX in place of BONE and will also play a role in the upcoming Shiba Metaverse and Shiba Inu’s blockchain-based game.
SHI stablecoin is part of plans for Shiba Inu’s transition to a utility ecosystem. There are not many details about the SHI stablecoin. According to information released by Shiba Inu’s team, the TREAT token will also have some association with the SHI stablecoin.
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