The developers called the launch date of the Shibarium L2 network

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shiba_explain-min

The second-level network from the creators of the Shiba Inu meme-token – Shibarium – will be launched in August after the blockchain conference in Toronto. This was announced by the developer under the pseudonym Shitoshi Kusama.

“We will publish the completed version of Worldpaper, present new projects under the Shib brand and tell you more about the Treat project,” the project representative added.

There will also be a decentralized autonomous organization Doggy, with which projects on Shibarium will be funded.

As of June, over 20 million transactions have been made on the Puppynet testnet and about 16 million wallets have been registered.

Snimok-ekrana-2023-07-07-v-14.25.51
Data: Twitter.

The L2 solution uses Shiba Inu ecosystem tokens – SHIB, LEASH and BONE. The latter is selected as a native Shibarium asset to pay rewards to validators and delegates. For these purposes, 20 million BONE are reserved out of a total issue of 250 million coins.

Over the past 24 hours, BONE has risen by 8.1% to $1.14, according to CoinGecko. Other coins of the project have not changed much in price over the past 24 hours.

Shibaswap-_GeckoTerminal.com_BONE_2023-07-07_14-32-53
15 minute BONE/USD chart of the Shibaswap platform. Data: GeckoTerminal.

The protocol also uses the SHIB burning mechanism through the Burn Portal.

Recall that in March 2022, the Shiba Inu team revealed the details of launching their own metaverse based on Shibarium.

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