Withdrawals on Shibarium Take Time
Developers of the Shibarium network announced that token withdrawals can take anywhere from 45 minutes to a week, depending on the specific token. This comes after a rocky launch that was plagued with software bugs and left millions of dollars in limbo on the network. Despite the setbacks, the team has implemented measures to prevent future outages, including working with Polygon blockchain developers to address potential issues.
Main Breakdown:
- Withdrawal times vary from 45 minutes to a week
- Shibarium is a fork of Polygon and uses modified code
- Shibarium aims to position Shiba Inu as a serious blockchain project
- Shibarium experienced a successful testing period but faced issues after going live
- Developers have implemented new monitoring systems and fail-safes to prevent stoppages
Hot Take:
Despite the network restart and improvements, SHIB prices have slid in the past 24 hours. This is likely due to the bearish sentiment towards major cryptocurrencies like Bitcoin. It remains to be seen whether Shibarium can regain momentum and establish itself as a reliable and efficient network for token withdrawals.
By
By
By
By
By