Shibarium’s Shiba Inu is poised to make its debut in August. The announcement was made by developer Shytoshi Kusama in a recent blog post.
Shibarium is designed to address scalability issues by utilizing off-chain systems built on top of the Ethereum blockchain. These systems aggregate multiple off-chain transactions into a single layer 1 transaction, reducing data load and fees.
One of the key components of Shibarium’s ecosystem will be DoggyDAO, a decentralized autonomous organization operated and governed by token holders. This DAO will play a crucial role in funding projects developed on the Shibarium network.
The Shibarium testnet has already witnessed significant activity, with millions of transactions from numerous wallets. This level of engagement demonstrates the growing demand and interest in the network.
Developers have emphasized Shibarium’s focus on metaverse and gaming applications, particularly within the thriving non-fungible token (NFT) sector.
As NFTs continue to gain popularity, Shibarium aims to establish itself as a serious project with its own blockchain network and decentralized app ecosystem.
In the Shiba Inu ecosystem, the movement of tokens has been mixed in the past 24 hours. While bone (BONE) experienced a surge of up to 4.5% and leash (LEASH) rose by 2%, SHIB tokens declined by 5% in line with a broader drop in major tokens.
