Shiba Inu’s layer 2 Shibarium recently clocked in $1 million in total value locked [TVL], last seen in December. An increase in TVL suggests the level of trust investors entrust upon a platform or dApp, as it indicates the total value of digital assets that are locked or staked in particular decentralized finance. The scaling protocol has made rapid strides since its inception, with more projects in the pipeline, ready for launch, expanding its utility across the meme coin ecosystem.
Not long ago, two of the leading price aggregators, CoinGecko and CoinMarketcap, extended their support to Shibarium, enabling users to track various assets focused on the layer 2. CoinGecko has an exclusive page dedicated to all the 24 digital assets linked to Shibarium, ranked by their market cap. Besides that, other platforms like Coinscan, Coindataflow, and Fxempire also hold records of Shibarium tokens.
In addition to that, Shibarium is approaching 3 million transactions, as highlighted by data from the Shibarium scan. With over 334 million cumulative transactions, Shibarium boasts more than 1.3 million wallet addresses. The platform has also recorded steady growth in smart contracts. At present, it hosts over 15k.
Recently, the Shiba Inu team released a teaser of its upcoming NFT project. SHEboshis NFTs, a new collection, will soon go live on Uniswap and ShibaSwap, with plans to bridge to Shibarium shortly. According to SHIB influencer Lucie, the team plans to begin the next phase of Shib NFTs by releasing the first claimable set to SHEboshi holders for free.
Since SHEboshis will be based on the soon-to-be-released ERC-404 token standard, Lucie has warned the community members to remain vigilant for potential fraudulent scams related to this collection, emphasizing that the NFTs will be airdropped for Shiboshi holders only.
Shiba Inu and Ryoshi
In a related development, Shiba Inu has scored another utility within the Ryoshi network. Ryoshi is among the first Polygon CDK chains, and implementing a custom gas token has paved the way for the broader adoption of the popular meme coin. As reported by TronWeekly, utilizing SHIB as gas would provide a gateway to the full spectrum of the web3 landscape, including DeFi, NFTs, GameFi, name services, meme coins, staking, and governance. This represents a huge step forward, offering Shiba Inu users the tools to explore new frontiers and possibilities, the team wrote.
Earlier, the Shiba Inu-centric project announced its plan to launch its governance token, although an exact timeline for the release has yet to be known.
