- Shibarium has resumed withdrawals of ecosystem tokens.
- Shibarium is expected to welcome a new era of gaming, DeFi, and metaverse applications.
Shiba Inu developers have announced that “Shibarium is live and operating well.” The Monday update stated, “now that we’ve proven that all funds are safe (as we said) and that Shibarium is ready for prime time, we will reopen our channels.”
The developers informed the community of the resumption of token withdrawals. Users can withdraw Shiba ecosystem tokens in a period ranging from minutes to days.
Shib (SHIB), wrapped ether (wETH), and leash (LEASH) tokens will take approximately 45 minutes to 3 hours to withdraw. Bone (BONE) withdrawals will be processed in up to 7 days.
The withdrawals come following initial bottlenecks after Shibarium officially launched on August 16. An influx of transactions is said to have resulted in network issues that saw millions of dollars trapped. The events triggered sharp bear actions on the market, with Shiba Inu crushing up to 10%.
Shiba Inu lead developer Shytoshi Kusama reassured users that the team had implemented measures to prevent future outages. Kusama said that Shibarium had witnessed over 65,000 wallets and 350,000 transactions before the Monday update.
Shibarium To Make Shiba Inu A Serious Blockchain Project
Shibarium is expected to usher in a new era for Shiba Inu, with broader applications in gaming, DeFi, and the metaverse. The layer-2 network will have seamless interaction with the primary Layer-1 Ethereum blockchain.
With the integration, Shibarium will address Ethereum’s high gas fees and slow transactions. The scalability increases the usability of the Shiba Inu token, helping it play a greater role in the blockchain ecosystem.
Shibarium has been a success so far. About 22 million transactions were performed over its four-month testing period. Investors hold big expectations of the ecosystem tokens due to the Shibarium benefits.
