Shiba Inu (SHIB) is catching the eye of crypto fans. The team behind this meme-inspired coin has shared a simple guide on how to move Bone ShibaSwap (BONE) from the Ethereum mainnet to Shibarium.
The Shiba Inu team announced the update to the entire SHIB community on the social media platform X (formerly Twitter). They released a short video guide to help community members transfer their BONE tokens from the Ethereum mainnet to Shibarium, the SHIB layer two network.
Shiba Inu Community Reacts to Bridging Update
The recent development has sparked excitement within the SHIB community, with many members expressing enthusiasm for the update. Community members have particularly appreciated the team’s efforts in providing virtual directions for the process.
To begin the bridging process, users need to ensure they have some BONE tokens in their Web3 wallet, such as Metamask. Once this prerequisite is met, the next step involves opening a web browser and visiting the secure Shiba Inu bridge portal.
Upon arriving at the portal, users must link their wallets to the site by clicking the connect button located in the upper right corner. Once the connection is established successfully, users can access their wallet balances through the Shibarium Bridge website.
Users can then proceed to click the transfer button after specifying the quantity of BONE they wish to move to Shibarium. Upon initiating the transaction, users will receive a notification outlining the capabilities and limitations of the bridge portal, including the inability to stake or delegate tokens on the Shiba Inu blockchain network.
Following the initiation of the transfer, users will be prompted to approve the transaction through their wallet. The deposit process comprises two transactions, and the bridging process is expected to take approximately 20 minutes to complete.
Upon completion of all steps, users can visit chain.shibrpc.com and add MetaMask to access the network via the MetaMask wallet.
In addition to announcing the bridge opening, Shytoshi Kusama, the project’s lead developer, highlighted the introduction of the Shibarium Launchpad. “In addition to the opening of our Bridge, the SHIB team is proud to announce the Beta opening of the Shibarium Launchpad,” he stated.
Shibarium Reaches Milestone with 320 Million Transactions
Shibarium, the network supporting Shiba Inu, has achieved a significant milestone by surpassing 320 million transactions. Data from the network tracker Shibariumscan.io indicates a total of 323,414,224 transactions.
Since its inception, Shiba Inu has gained popularity, with its community members actively utilizing the network. Shibarium boasts 2.9 million blocks and a total of 1.34 million wallet addresses.
SHIB trading at $0.00000899 on the 1D chart | Source: SHIBUSDT on Tradingview.com
Shibariumscan reports an average daily transaction volume of around 2.82 million, indicating substantial utilization. Moreover, the network’s utilization has seen a notable 22% increase, suggesting growing adoption among users.
Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.
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