Why Shibarium Could Soon Rank Among Top 5 Blockchains

Shiba Inu Shib

According to Lucie, the marketing lead for Shiba Inu (SHIB), Shibarium is expected to become one of the top 5 blockchains in the future.

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Lucie emphasized that overlooking Shibarium could lead to regret down the line. The content specialist highlighted the project’s potential for success, attributing it to the passionate support of its community members and their willingness to contribute.



Shibarium: Enhancing the Shiba Inu Ecosystem

Since its launch in August last year as an Ethereum-based layer-2 scaling solution, Shibarium has aimed to provide functional DApps to the Shiba Inu ecosystem. It focuses on scalability and cost efficiency compared to Ethereum, catering to the needs of its members.

Despite facing challenges during its launch, Shibarium has demonstrated resilience. Developers have continuously worked to improve its throughput, leading to considerable activity on the platform. At its peak, daily transaction counts reached 7.8 million.

Although the initial surge has waned, Shibarium still sees significant daily transactions, currently averaging 593,680. With a total transaction count of 412,247,306 from 3,735,393 blocks, the network maintains a relatively low block time of 5 seconds.

Shibarium’s Total Value Locked (TVL) stands at $1.59 million, positioning it as the 154th-largest blockchain network by TVL according to data from DeFiLlama. However, NowNodes, a partner of Shiba Inu, ranks Shibarium among the top 5 most active protocols on its platform.

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Community members and developers are actively working to ensure Shibarium gains more traction in the long term, indicating a strong commitment to its success.

Shibarium’s Value Proposition for the SHIB Community

To underscore the commitment of Shibarium innovators to enrich the community, Lucie highlighted the advantages of projects built on Shibarium for the overall SHIB ecosystem.

Driving Transactions and Token Burns: Lucie emphasized that these projects contribute to increased transaction volumes, leading to more significant token burns. Additionally, registered validators receive extra rewards, fostering greater participation and engagement within the ecosystem.

Boosting DApps and Rewards: Projects on Shibarium also result in an expansion of DApps, which translates to more BONE rewards for validators. This growth not only benefits individual participants but also strengthens the network as a whole.

Enhanced Exposure for SHIB and Associated Projects: Lucie pointed out that these projects bring increased visibility to SHIB, drawing attention to other Shiba Inu-associated tokens like Doge Killer (LEASH) and Sheboshis (SHEB).

Community Collaboration for Success: Highlighting the potential and opportunities presented by these developments, marketing executives urged the community to collaborate effectively to achieve the set objectives. This collective effort is crucial for realizing the full potential of Shibarium and maximizing benefits for the SHIB community.


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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