Shiba Inu, a blockchain project that’s made waves with its meme-inspired cryptocurrency, has marked a significant milestone with the launch of its L2 scaling solution called Shibarium.
Lead developer Shytosi Kusama has officially declared the platform operational and running smoothly.
This announcement comes on the heels of rigorous testing and fine-tuning, signifying a notable achievement for the Shiba Inu project.
Kusama, in a recent blog post, highlighted that even before the official announcement, Shibarium had garnered more than 65,000 wallets and processed a staggering 350 transactions.
The L2 scaling solution, Shibarium, has been a playground for a variety of tokens, some of which have been quirky, unconventional, and occasionally controversial. It offers a platform for different types of tokens and projects to thrive.
Kusama praised the decision to fork Polygon (MATIC) and leverage it to create the new Shibarium project, a move that aims to propel the Shiba Inu ecosystem forward.
Addressing the withdrawal process for certain tokens, Kusama mentioned varying timeframes ranging from 45 minutes to 3 hours to 7 days, with particular emphasis on the BONE token.
However, the much-anticipated Shibarium launch encountered significant technical challenges earlier in the month, leading to a plunge in the price of the SHIB token.
This setback wiped out weeks of positive price performance, and the platform also had to weather some substantial “FUD attacks,” referring to fear, uncertainty, and doubt spread within the community.
Nonetheless, Kusama encouraged the community to maintain a long-term perspective amid short-term market fluctuations, stating, “Those who build in the bear market will win in the bull market.”
