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- The participants in the Shibarium hackathon are expected to solve the zero trust finance with speed in DeFi to onboard small businesses.
- The upcoming launch of the Shibarium layer 2 scaling solution has been described as a much-needed bullish catalyst in the ecosystem’s tokens.
The Shiba Inu (SHIB) ecosystem has demonstrated its long-term potential despite the past year’s crypto bear market devastations. As the second largest memecoin in the cryptocurrency market, Shiba Inu has undeniably attracted more retail and institutional funds in preparation for future bull markets. Moreover, the Shiba Inu network is backed by a vibrant online community, blockchain developers, and liquidity providers.
For instance, the highly-hyped launch of the Shibarium layer two scaling solution has attracted significant speculations on the ecosystems’ tokens, including SHIB, BONE, and LEASH. According to the latest crypto market data, the three Shiba Inu tokens have a combined fully diluted valuation of about $8.8 billion.
Closer Look at Shibarium Network Developments
The Shiba Inu ecosystem is largely thrilled by the Launch of the Shibarium layer two scaling solution for the obvious reason of an increase in on-chain activity. Notably, an increase in on-chain activity in the Shiba Inu ecosystem means a higher rate of token burns, which reciprocates to enhanced value for existing digital assets. As a result, Shibarmy has advocated for the Shibarium network to be launched this summer as teased by lead core developer Shytoshi Kusama.
Meanwhile, a $5k bounty program has been launched to discover the enhanced future of healthcare, De-Fi, zero-trust with speed, cryptography, distributed cloud operating system, and low code DeFi for small businesses. The announcement reads:
…During this hackathon, you are free to build anything you like. In fact, we want you to come up with something completely original and new…. For this hackathon, the project must be a new development in order to ensure equal opportunity…
The Shibarium hackathon is meant to allow more collaboration between blockchain developers and designers for the future hood of the Shiba Inu ecosystem. Moreover, the Shibarium testnet is required for all smart contracts for the participants to win the bounty price in the BONE token.
The ultimate winner is expected to be selected from the participants who included the vast majority of features.
Blockchain developers are invited to showcase their skills and obtain a chance to build on a promising economy. Moreover, the Shiba Inu network has deep liquidity through the existing DEXes, and locked assets.
🚀 The Shibarium Hackathon is here, and you can showcase your skills to win big!
🏆💰 $5000 in $BONE is up for grabs as the grand prize!
Remember for Shibarium team, your safety is always prioritized. pic.twitter.com/MFQgFQNtLd
— 𝐋𝐔𝐂𝐈𝐄 | ✨Shib.io✨ (@LucieSHIB) July 30, 2023
Takeaway Notes
Meanwhile, the Shibarium beta bridge to the Ethereum ecosystem has gone live for public testing. Users are, however, advised to not use real digital assets to avoid the loss of funds. The interoperability of DeFi protocols significantly determines their future growth prospects apart from new user acquisition. Moreover, a secure chain bridge ensures seamless funds transfer from one protocol to another.
🔥 Shibarium Beta Bridge has gone live for public testing! 🎉
Be among the first to try out this revolutionary cross-chain solution.
Remember, always exercise caution and verify authenticity before connecting your wallet to any website.
PLEASE DO NOT USE YOUR REAL ASSETS!… pic.twitter.com/7yfhX8gQc6
— 𝐋𝐔𝐂𝐈𝐄 | ✨Shib.io✨ (@LucieSHIB) July 26, 2023
According to our latest crypto price oracles. Shiba Inu traded around $0.00000840, having gained approximately 6.5 percent in the past week.
