The Failed Launch of Shibarium: Addressing Concerns and Ensuring Safety
The team behind Shibarium, the layer-2 blockchain for the Shiba Inu ecosystem, has responded to the recent events surrounding the failed launch. They have posted two communications on the Shib.io Blog to address the concerns and provide clarification.
Key Points:
- Shytoshi Kusama, one of the leading developers, denies any bridge issues and warns against trusting screenshots suggesting otherwise.
- The network went down due to a massive influx of transactions, and the team is working to scale before restarting the chain and bridges.
- Kaal Dhairya accuses news outlets of spreading fear, uncertainty, and doubt (FUD) with fake screenshots, and states that they have sought help from powerful allies.
- The root of the problem seems to be the overwhelming traffic in a single block, causing the network to enter fail-safe mode.
- Over $1.7 million worth of funds are still locked in Shibarium’s contract, with recent transactions failing due to execution errors.
Despite the challenges, the team reassures users that their funds are safe and that they have taken precautions to address misinformation and fake websites. They remain committed to resolving the issues and providing updates to the community.
Hot Take:
The failed launch of Shibarium has raised concerns among crypto enthusiasts. While the team acknowledges the issues and addresses the spread of misinformation, there is still uncertainty surrounding the recovery of locked funds. As the team works tirelessly to restore the network, the credibility and transparency of their communication will be crucial in regaining trust and confidence from the community.
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