- Lead developer Shytoshi Kusama announces the imminent launch of Wrapped BONE (WBONE) token, the official gas token of Shibarium.
- Smart contract verification feature and the renouncement of the BONE contract are set to roll out soon, while ShibaSwap, Shiba Inu’s decentralized exchange, will migrate to Shibarium.
Navigating Shibarium’s Ambitious Roadmap
In a dynamic update to Shiba Inu’s burgeoning Layer 2 blockchain, known as Shibarium, lead developer Shytoshi Kusama has outlined the imminent steps aimed at broadening the platform’s utility and adoption. For those not intimately familiar with blockchain terminology, Layer 2 or ‘L2’ solutions are secondary frameworks constructed atop existing blockchains, aiming for scalability and efficiency improvements.
Kusama’s revelation, shared through a screenshot by Shiba Inu’s marketing team member Lucie, highlights the introduction of the Wrapped BONE (WBONE) token. This is no trivial development: Wrapped tokens in the blockchain ecosystem function as representations of a particular asset, pegged on a one-to-one basis with the original token. WBONE serves as the official gas token of Shibarium, and it’s poised to play a pivotal role in the platform’s operations.
— 𝐋𝐔𝐂𝐈𝐄 | Summer of Shibarium (@LucieSHIB) August 28, 2023
The development comes shortly after reports indicated that Shiba Inu enthusiasts had staked a whopping 19.82 million BONE tokens, amplifying its significance as a major player within the Shibarium landscape.
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Kusama also divulged that Shibarium would introduce a smart contract verification feature within the week. Smart contracts are self-executing contracts wherein the terms of agreement are inscribed directly into code. Verification would mean additional security and transparency, fortifying Shibarium’s infrastructure.
ShibaSwap’s Migration and BONE Contract Renouncement
Another critical juncture in Shibarium’s evolutionary trajectory is the pending migration of ShibaSwap, Shiba Inu’s decentralized exchange, to the L2 blockchain. This aligns with the previous commitment to transfer all Shiba Inu-related assets, including its non-fungible tokens (NFTs) and metaverse, to Shibarium post-mainnet launch.
Moreover, plans to renounce the BONE contract are underway. For those unfamiliar with contract renouncement, it essentially means relinquishing the control over the contract, making it immutable. This irreversible action would eliminate the possibility of minting new BONE tokens, a move eagerly anticipated by the community to pave the way for listing on major exchanges.
At present, Shibarium’s metrics are also speaking volumes. The blockchain has already processed 381,798 transactions and supports 70,345 interacting wallets. Aided by developers from Polygon for scaling, Shibarium seems well-positioned to actualize its ambitious plans.
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