As the Shiba Inu ecosystem begins a new voyage post-mainnet launch, discover everything you need to know about Shibarium and SHIB.io.
Shibarium is a layer-2 blockchain network that runs on top of the Ethereum blockchain, which hosts the SHIB ecosystem tokens (SHIB, LEASH, and BONE). A layer-2 blockchain network provides scalability benefits, faster transaction times, lower fees, and an expanded development framework.
Shibarium was first proposed by the anonymous Shiba Inu creator Ryoshi in May 2021 in a now-deleted blog post. It is a framework built by the Shiba Inu community, for the community, with the vision of creating a decentralized and innovative metaverse and gaming ecosystem.
Shibarium aims to solve some of the biggest challenges facing mainstream adoption of blockchain technology, such as high gas fees, slow transaction speeds, and limited functionality. By using a layer-2 solution, Shibarium can process transactions off-chain, meaning outside of the Ethereum blockchain, and communicate them back. This reduces the load on the Ethereum network and improves the user experience for metaverse and gaming applications.
Shibarium will also enable the development of decentralized applications (dApps) that serve industry areas, such as metaverse, web3 innovation, and gaming. dApps are programs that exist and run on a blockchain, allowing users to interact and transact trustless and decentralized. dApps can also enable users to own, buy, and sell the digital assets they acquire.
One of the first dApps to be launched on Shibarium is SHIB.io, a decentralized exchange (DEX) allowing users to swap tokens between Shibarium and Ethereum networks. SHIB.io will also provide liquidity pools, staking rewards, governance features, and more.
BONE will power SHIB.io, the governance token of the SHIB ecosystem. BONE holders can vote on proposals via the Doggy DAO, a decentralized autonomous organization that manages the development and direction of Shibarium. BONE will also be used as a native currency for transactions and fees on Shibarium.
SHIB.io will also support other tokens from the SHIB ecosystem, such as SHIB, LEASH, and TREAT. SHIB is the main token of the ecosystem, bringing the power of a decentralized, community-led currency to millions across the globe. LEASH is a special token for loyal supporters of the ecosystem, enabling holders to benefit from exclusive perks and access. TREAT is a new token that will be used for gaming and metaverse purposes on Shibarium.
Shibarium is expected to launch in early 2023 after rigorous testing and auditing. The Shibarium team has already released an early beta test version of the network called PuppyNet, which allows users to try out some of the features and functionalities of Shibarium.
Shibarium is an ambitious project that aims to revolutionize the Shiba Inu ecosystem and the crypto space. By providing a scalable, secure, and innovative layer-2 solution for Shiba Inu tokens and dApps, Shibarium hopes to attract more users and developers to join its community and vision.
To learn more about Shibarium and SHIB.io, you can visit their official websites or follow their social media channels for updates and announcements.
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