TL;DR
- Shibarium celebrates its first anniversary with over 417 million transactions and 1.8 million wallets created.
- $12 million has been secured for future development and gas rates remain low.
- The network will expand with new features such as NFTs, games, and a metaverse.
Shibarium, Shiba Inu’s innovative Layer 2 protocol, commemorates its first year with a series of notable achievements that underscore its impact on the cryptocurrency ecosystem.
Since its launch on August 16, 2023, Shibarium has evolved rapidly, establishing itself as a key pillar in the Shiba Inu network.
Happy Birthday #Shibarium ! 🎉
What a year for Shibarium!
Since its launch in August 2023, we’ve hit amazing milestones:•417 million transactions and 1.8 million wallets created!
•$12 million secured for future growth.
•Gas fees remain incredibly low, even with high… pic.twitter.com/RLxM6iruL5
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) August 17, 2024
Within its first year, the platform has processed over 417 million transactions and seen the creation of 1.8 million wallets, a testament to the success and adoption it has achieved in a relatively short time.
One of the most notable features of Shibarium is its gas fee structure.
By using BONE tokens to cover fees, a portion of these fees are converted into SHIB and burned, helping to reduce the circulating supply of SHIB.
This burning process has a deflationary impact, designed to increase the value of SHIB over time.
The network has kept its gas fees surprisingly low, even with high transaction volumes, which fulfills one of its main goals: offering a cheap and efficient user experience.
Throughout the year, Shibarium has maintained a steady pace of growth, with over 17,000 smart contracts created and robust network activity.
Although initial growth experienced a significant boom, the pace has shown a recent slowdown.
However, the network remains a crucial component of the Shiba Inu ecosystem, with ambitious plans for the future.
Towards a Bright Future with Shiba
The future looks bright for Shibarium backed by a solid financial foundation and a clear vision for expansion.
$12 million has been secured to support the continued development of the network, and the introduction of new features such as NFTs, gaming, and a metaverse are on the way.
These additions have the potential to revitalize network activity and attract new users, encouraging greater interaction and participation on the platform.
As the project enters its second year, the community and developers are looking forward to the network continuing its trajectory of growth and success.
The implementation of new functionalities will not only diversify opportunities for users but also strengthen the role of the protocol within the Shiba Inu ecosystem.
With a solid foundation and a clear plan for the future, Shibarium is well positioned to remain a key player in the cryptocurrency world, offering real value and utility for its users and token holders.
