Shibarium, the Layer-2 scaling solution of the Shiba Inu (SHIB) meme coin ecosystem, has achieved a new milestone in its development. According to the official dashboard, more than 27 million Bone ShibaSwap (BONE) tokens have been staked on the protocol, showing strong support from the community.
Shiba Inu Now Aims To Improve BONE
BONE is the native cryptocurrency of Shibarium, which operates as a proof-of-stake (PoS) network. By staking BONE, users can help secure the network and earn rewards. The protocol also allows users to access a variety of applications, such as NFT marketplaces, cryptocurrency ATMs, and brokers.
The BONE staking milestone is not the only sign of Shibarium’s growing adoption. The protocol has also surpassed 200,000 daily transactions, indicating high demand for its fast and cheap transactions. Shibarium aims to provide a scalable and decentralized platform for the SHIB army and beyond.
Shibarium was relaunched in August after a failed attempt in July due to technical issues. Since then, the core developer team has been working hard to improve the protocol and add new features and functionality. Some of the upcoming features include a sandbox environment and a better user interface.
The success of Shibarium is expected to have a positive impact on the price of both BONE and SHIB tokens. As more BONE tokens are locked up in staking, the circulating supply decreases, which can create upward pressure on the price.
Moreover, as Shibarium enhances its capabilities and user experience, it can attract more users and developers to the SHIB ecosystem, boosting its value proposition in the Web3.0 landscape.
Shibarium is one of the ambitious projects of the Shiba Inu project, which also includes ShibaSwap, a decentralized exchange, and ShibaNet, a decentralized incubator. The project aims to create a vibrant and innovative community that can challenge the dominance of Dogecoin (DOGE) and other meme coins.
