KEY POINTS
- Shibarium was announced in late 2021
- The Layer-2 solution has no definite release date yet
- SHIB was trading down 4.92% at $0.00001158
Shiba Inu, the dog-themed altcoin, is celebrating its second birthday this month, and what better way to commemorate the birth of the now-popular crypto asset than a status update and more details about one of its upcoming projects, the Layer-2 solution dubbed Shibarium?
A crypto enthusiast and SHIB Short Stories author who goes by the name Ttello77 shared a huge update about Shibarium on Twitter Monday. The information is courtesy of the Shiba Inu Community and Defense Breed co-lead Trophias, who is also the moderator of the Shiba Inu Official Discord.
The co-lead disclosed that the SHIB Team is currently working on the documentation of the Layer-2 solution and “has kept it pretty secret.” They also claimed that Shibarium would “encompass everything within the current Shiba Inu ecosystem,” including the decentralized exchange (DEX) Shibaswap, the NFT Shiboshi and the metaverse “Shib: The Metaverse,” among others.
Moreover, Trophias noted that Shibarium would feature “community recognition initiatives or proposals/projects” supporting SHIB. They pointed out that the Layer-2 solution would “launch as ‘barebones’ model that will have minimal information attached” but assured that “it will grow over time and [will] have direct community involvement.”
On the schedule of the launch, the co-lead revealed that the Woofpaper v3 and information about the ecosystem would be released first, while tutorials would be a continuous and ongoing aspect. The Shibarium documentation, according to them, would be a part of the wiki.
Despite the plethora of details provided by the co-lead, they did not share any information on the blockchain’s target or release window. However, Kusama previously said in one of their blog entries that the development team would first release the Shibarium documentation and a series of information campaigns about the Layer-2 solution before it would be launched and made available to the public.
Shiba Inu pseudonymous creator Ryoshi announced the Shibarium blockchain in late 2021. It is a part of the creator’s future development plans for the SHIB, alongside the launch of the Shiba Inu stablecoin SHI.
Shytoshi Kusama, the lead developer of the Shib Army-driven community, described Shibarium as the “key component in this uncanny war ” that “will allow us to move assets on chain with minor BONE (gas) fees empowering micro transactions.” They also assured the community that Shibarium would let the Shib Army see the full potential of SHIB.
As of 12:06 a.m, ET Tuesday, SHIB was trading down 4.92% at $0.00001158 with a 24-hour volume of $522,079,333 based on the latest data from CoinMarketCap.
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