Shiba Inu Gets Thousands of Percent Down: BONE Fee to Send Shiba Inu (SHIB) Gets Thousands of Percent Down Thanks to Shibarium.
Shiba Inu Gets Thousands of Percent Down
Shiba Inu Gets Thousands of Percent Down: According to a recent tweet posted by the official account of Bone ShibaSwap (BONE), Shibarium is able to reduce transaction fees by thousands of percent.
The BONE account has shared a screenshot with details of a transaction, which shows that the fee constitutes 0.00002 BONE. The recently launched layer-2 blockchain Shibarium allows users to make transfers of Shiba Inu, using BONE tokens as gas for charging transaction fees. Initially, Shytoshi Kusama and his SHIB developer team stated that transaction fees on Shibarium, unlike those on Ethereum, will be much lower and faster, without any congestion.
Besides, according to several blog posts published by Kusama on Medium, every transaction will contribute to regular SHIB burns. The mechanism is the simple part of each transaction fee in BONE will get converted into Shiba Inu meme tokens and then sent to dead-end wallets. The SHIB army now expects trillions of Shiba Inu to get burned, which would in theory push the price up significantly. Thanks to burning, i.e. sending tokens to unspendable wallets, an asset becomes more scarce as its circulating supply shrinks.
After the glorious release of Shibarium’s PuppyNet blockchain, whales have begun purchasing massive amounts of BONE, largely increasing their bet on this meme token. According to data shared by IntoTheBlock, whales now hold 126.15 million BONE. This is 54.84 percent of its supply in circulation.
Shiba Inu Gets Thousands of Percent Down: Besides, prior to the PuppyNet release on Saturday, BONE scored yet another listing, this time it was added to the crypto lending platform CoinRabbit.
Shibarium Public Beta PUPPYNET Goes Live
Shiba Inu Gets Thousands of Percent Down: A short while ago, the lead SHIB developer Shytoshi reopened the Telegram chat and announced that the early Shibarium beta has finally been released. A Medium post with details has been published too. The new layer-2 blockchain is called Puppynet. Kusama has also spread the word about why the popular FUD about Sam Bankman-Fried being the creator of SHIB – Ryoshi – is only FUD and there is not a grain of truth in it.
Shibarium beta released, burn mechanism being adjusted
Shiba Inu Gets Thousands of Percent Down: Shytoshi made a reminder that Shibarium allows developers to create dapps, integrate businesses on it, and power various projects. He again confirmed that SHIB tokens would be burned, while transactions are made. What’s important, according to Shytoshi, everyone can build on it as “Shibarium is only limited by the imagination”. The burning mechanism is also in the process of launch, currently, the developers are making adjustments to it and will continue to do so during the next few months.