The Future of Shibarium: Burn Portal Development Confirmed
Exciting news for the Shiba Inu (SHIB) ecosystem! The core team behind Shibarium, an Ethereum-based layer-2 protocol, is rolling out new updates, giving us a glimpse into the protocol’s future.
According to Lucie, the Marketing Strategist of the Shiba Inu ecosystem, lead developer Shytoshi Kusama has confirmed the development of the Burn Portal for the Shibarium protocol. This confirmation was shared through a tweet.
So to confirm that ADOPTION is the right way🌝$SHIB Burns x Shytoshi answered pic.twitter.com/BizkLZ0V83
— 𝐋𝐔𝐂𝐈𝐄 | Summer of Shibarium (@LucieSHIB) September 4, 2023
Kusama confirmed the Burn Portal’s development in response to a question on Telegram. Burning tokens is an important aspect of the Shiba Inu protocol, with SHIB tokens consistently being burnt to reduce the overall supply and increase the token’s long-term value.
Hot Take: Adoption Takes Priority Over Token Burning
Interestingly, Kusama emphasized that while token burning is important, the primary goal of the Shibarium ecosystem is to increase adoption and usage of the protocol. This approach aligns with the aim of ensuring a robust circulation of the protocol’s associated token and enhancing its value over time.
With the Burn Portal in the works and the team’s focus on adoption, Shibarium is poised for growth and increased interest from investors and users.
Shibarium Updates on the Horizon
Following its initial failed launch in August, the Shibarium protocol has been scaled and is now ready for a second chance. The team has teased additional updates to enhance the protocol’s functionality.
These updates include plans to onboard more validators to secure the ecosystem and the revocation of the contract address of the scaling solution’s native token, Bone Shibaswap (BONE).
With the burn portal underway and these upcoming innovations, Shibarium is set to make waves in the Shiba Inu ecosystem.
Hot Take: Shibarium’s Future Looks Bright
The combination of the Burn Portal, scalability improvements, and other planned updates positions Shibarium as an exciting and promising protocol. Keep an eye on this space for further developments!
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