- Shibarium is recording a sharp increase in the number of interacting wallet addresses on its testnet.
- Shibarium might burn 500 tokens, and its base fees will be split, with 70% being burned and 30% set aside to maintain the network.
Shibarium Testnet Experiences Increase in Interacting Wallets
Shibarium, the Shiba Inu Layer 2 protocol, has recorded a sharp increase in the number of interacting wallet addresses on its testnet. According to PuppyScan, the number of interacting wallet addresses on Shibarium has risen to 13,856,413, up from 11,113,441 on April 17.
Shibarium beta “Puppynet” currently records 446,449 total transactions and 446,449 total blocks. The increase in interacting wallet addresses is a positive sign for Shibarium and suggests growing adoption.
New Projects Building on Shibarium
New projects have indicated that they are building on Shibarium, including MzeDex, which has decided to become a part of Shibarium. However, Shiba users have been urged to stay alert. Shiba Inu lead Shytoshi Kusama has issued an alert to the Shiba Inu community to always do their research (DYOR) and avoid scams, as there is no official Shibarium token.
— Ragnar Shib (@RagnarShiba) April 19, 2023
Shibarium May Burn 500 Tokens
According to Shib BPP, a Shiba Inu-focused Twitter account, Shibarium may burn 500 tokens based on the new burn estimates he ran. Shibarium’s documentation reveals that its base fees will be split, with 70% being burned and 30% being set aside to maintain the network.
I just ran new burn estimates for Shibarium.
Shibarium will impress me if it can burn 500 billion $SHIB per year.
This is based on the current prices of BONE and SHIB, as well as the number of transactions of the top L2 in the previous 30 days. pic.twitter.com/L7dLE2T9JF
— $SHIB BPP (@ShibBPP) April 18, 2023
Shib BPP ran the burn estimates based on the current prices of BONE and SHIB, as well as the number of transactions on Shibarium in the past 30 days. At the time of writing, SHIB was down 3.41% in the last 24 hours, trading at $0.0000114. Shibburn’s Twitter account revealed that there have been 250,000 SHIB tokens burned in a single transaction in the last 24 hours.
In conclusion, Shibarium’s increase in the number of interacting wallet addresses on its testnet, along with new projects building on the protocol, suggests growing adoption and positive momentum for the Shiba Inu ecosystem. Shibarium’s potential to burn 500 tokens, as well as its base fee split, highlights its potential as a promising Layer 2 protocol for the future.