Shiba Inu’s layer-2 scaling solution, Shibarium, has experienced an unprecedented surge in adoption, attracting over 10 million wallets and 331,258 staked BONE tokens. Despite initial skepticism and challenges, the project has garnered significant attention within the crypto community.
Shiba Inu Official Praises Shibarium Adoption, Acknowledges Mistakes
Lucie, a prominent Shiba Inu development team, recently highlighted the remarkable success of Shibarium and candidly admitted that the development team had underestimated its adoption rate. The enthusiastic response from Shiba Inu investors exceeded all expectations and momentarily overwhelmed the network’s capacity.
Lucie noted that the team had misjudged the level of interest within the Shiba Inu ecosystem, particularly due to Shibarium’s promised benefits of efficiency and low-cost transactions.
Let’s be honest!
My $BONE, $SHIB, and $LEASH dropped a lot, just like the whole market.
Was I unhappy with @ShytoshiKusama?
No!
They kept their promises, but they made one mistake.
They didn't understand how much the #SHIBARMY wanted to be on #Shibarium.
I'm glad they… pic.twitter.com/z6kUSpUKQx
— 𝐋𝐔𝐂𝐈𝐄 | Summer of Shibarium (@LucieSHIB) August 20, 2023
The tremendous engagement from users temporarily overwhelmed Shibarium, necessitating a pause in its operations. Within a span of 30 minutes, more than 160 million compute units were recorded on the layer-2 network.
Moreover, 600,000 BONE tokens and 1,000 ETH tokens were deposited within 15 minutes, significantly surpassing the team’s projection. These figures clearly indicate the level of interest and demand for Shibarium among the Shiba Inu community.
Staked BONE Tokens and Shibarium Wallet Growth
Despite recent concerns surrounding Shibarium, staked BONE tokens have witnessed an increase. According to a snapshot shared by a top influencer, a staggering 331,258 Bone Shibaswap tokens were staked on Shibarium at the time of the update.
Additionally, exploratory data from Shibarium-designated explorer Puppyscan revealed that the number of wallets connected to Shibarium reached a milestone of 10,430,893 at press time.
We are on twitter, follow us to connect with us :- @TimesTabloid1
— TimesTabloid (@TimesTabloid1) July 15, 2023
Upholding Promises and Future Outlook
The SHIB marketing specialist commended Shytoshi Kusama, the Shiba Inu lead developer, for delivering on his promises. Shibarium, a Polygon-based scaling solution, was officially launched during the Blockchain Futurist Conference, as previously announced by Kusama.
However, in response to the recent price drops of BONE, SHIB, and LEASH tokens, Lucie noted that the Shiba Inu ecosystem tokens were following broader market trends. She reassured supporters that the challenges encountered by Shibarium would soon be a thing of the past, highlighting ongoing private testing by developers to ensure a stable network before the public relaunch.
Shibarium’s unexpected surge in adoption reflects the immense popularity of the Shiba Inu ecosystem. With over 10 million wallets connected and 331,258 BONE tokens staked, the layer-2 scaling solution has emphatically established its presence.
As the team focuses on resolving capacity issues, the future looks promising for Shibarium. As always, the Shiba Inu community eagerly anticipates the next chapter in this captivating journey.
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