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You are here: Home / Cryptocurrency News / Altcoin News / Shiba Inu: Shibarium Team Clears Confusion Over BONE Token

Shiba Inu: Shibarium Team Clears Confusion Over BONE Token

By Lipika Deka | Edited By Lipika Deka,January 5, 2023, 4:45 PM

Shiba Inu: Shibarium Team Clears Confusion Over BONE Token

Shiba Inu’s most anticipated Layer-2 scalability solution Shibarium is inching closer to its beta launch. The team on 5th Jan released a series of tweets addressing some of the rumors that have erupted over the course of time.

One such claim is the involvement of other tokens in the network besides the central token BONE.

The Shibarium Network confirmed BONE as the sole token for gas/ fees and utility-wise, reiterating that “No other tokens will be necessary to operate within the protocol”.

As per the team, Shibarium was created for the Shib token, not for the benefit of other projects that claim ownership or to satisfy rumors that it depends on other tokens to function.

“This layer belongs to the community and its solid foundation to innovate while evolving SHIB as an Ecosystem. It will always encompass support for Shiba Inu and its growth”.

This comes after a Unification fund operator and validator named Ringoshi Toitsu on Twitter spoke on Shiba Inu’s Shibarium.

In it, the developer said BONE will serve as the gas token, and FUND will fuel the Shibarium back end. This may have led to the tokens’ confusion.

For those new, UnificationUND is the builder of Shiba Inu’s layer-2 scaling solution which earlier announced public beta testing for Shibarium to commence within the 3rd quarter of 2022.

As we all know, it did not go as planned, triggering angry responses from the community members.

On the other hand, Shytoshi Kusama, the project lead later disclosed that he met with team members at UnificationUND, concerning the Shibarium.

Kusama also added that the developer team is carrying out onboarding, as well as alignment. He then concluded that the finalization process will take place sooner than later.

Shiba Inu’s Shibarium Codes Are Now Public

A few days ago, a Twitter user by the name GingFreecs pointed out that the Unification team posted some codes of Shibarium on GitHub for public viewing.

“Looks like Codegnosis from the UnificationUND team is working hard on Shibarium. Some code has been made public recently, can’t wait to see how it works in the big picture! They said to join them on Unification Shibarium Delirium Discord!” the anon user tweeted.

Unification xFund has not yet provided an estimated release date for the Shibarium public beta testnet. One will need to keep an eye out for any official updates regarding a potential beta testnet launch.

Filed Under: Altcoin News

About Lipika Deka

Lipika is a crypto-journalist at TWJ. A graduate in economics and finance, she has a keen interest in the political and socio-economic facets of blockchain technology and the cryptocurrency industry.

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