The introduction of Shibarium was met with dissatisfaction from the Shiba Inu community and its associated ecosystem due to its unsuccessful launch. The layer-2 scalability protocol encountered numerous challenges that raised concerns among various stakeholders. However, it seems that these issues have been subsequently addressed and resolved.
Shytoshi Kusama, the primary developer of the Shiba Inu network, recently shared the “Shibarium Scaling Final Update.” As per the provided details, Shibarium has been verified as operational and performing well. The announcement emphasized that even before its official public release, Shibarium had managed to amass an impressive 65,000 wallets and facilitate a remarkable 350,000 transactions. Shytoshi also pointed out the diverse range of tokens present on the network, which encompassed everything from unique and playful tokens to substantial ones, along with some that might not be suitable for all audiences. The tokens that will achieve prominence in the future remain uncertain.
Additionally, a total of 19,677,336.8931 BONE tokens have been staked within Shibarium. While ensuring the security of all funds, Shytoshi highlighted the withdrawal timelines. He explained that withdrawal processes for certain tokens could span from 45 minutes to 3 hours, while for BONE tokens, it might extend to an entire week. He clarified that this delay is not a technical glitch but rather a deliberate security feature. These measures have been implemented to offer users a sense of security as their digital assets are transferred from one point to another.
Shiba Inu Benefits from Polygon Network’s Assistance
Previously, Shytoshi had indicated the team’s pursuit of assistance from influential partners, with the promise of revealing their identities at an appropriate juncture. In his most recent blog post, Shytoshi conveyed his gratitude toward the Polygon network. He articulated,
“Soon after the incident surfaced, I directly reached out to Sandeep at Polygon, and without any hesitation, he promptly offered additional resources to ensure a favorable resolution to the situation. This is precisely why our decision to pivot and fork Polygon was the correct course of action.” Despite the operational status of Shibarium, Shiba Inu has encountered a decline of 1.90% in its value over the past 24 hours. At present, the asset is being exchanged at a relatively modest price of $0.000007967.