Shibarium Enables Token Withdrawals After Software Glitches
Shibarium, Shiba Inu’s layer-2 network, has resolved software glitches that caused token withdrawals to be disabled. Users can now withdraw Shibarium ecosystem tokens, including SHIB, LEASH, and wETH, with processing times ranging from 45 minutes to three hours. BONE token withdrawals could take up to a week. The network, a fork of the Polygon blockchain, aims to establish Shiba Inu as a credible blockchain project and provide an affordable settlement layer for DeFi applications. Initially, the network faced server failures due to an overwhelming number of transactions. To prevent future outages, the team has implemented a new monitoring system and added additional fail-safes.
Key Points:
- Shibarium has re-enabled token withdrawals after software glitches.
- Users can now withdraw SHIB, LEASH, and wETH tokens.
- BONE token withdrawals could take up to a week.
- Shibarium aims to establish Shiba Inu as a credible blockchain project.
- The network faced server failures due to an overwhelming number of transactions.
Hot Take:
Shibarium’s recent resolution of software glitches and re-enabling of token withdrawals is a positive step towards establishing itself as a reliable layer-2 network. With the implementation of a new monitoring system and additional fail-safes, the network aims to prevent future outages and handle large volumes of traffic more effectively. While the initial launch faced challenges, it is encouraging to see the development team collaborating with Polygon’s developers to address potential issues. As the network continues to evolve and attract users, it has the potential to become a significant player in the metaverse and gaming sectors, as well as in the DeFi space.
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