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- Shiba Inu’s Shibarium protocol is seeing an impressive and sustained growth push in its metrics.
- With steady development, more industry behemoths are now partnering and driving its fundamentals to the mainstream.
Shibarium is fast gaining attention from the crypto community and interest is rising at a very positively alarming rate.
Shibarium beta “Puppynet” has seen a significant increase in transactions reaching up to 6,900,532 at the time of this writing. Notably, this is just two months after it was launched. Within this time, Shibarium has achieved a total of 14,701,132, total blocks now at 781,127 at an average block time of 6.4 seconds according to data from PuppyScan.
Looking back a week ago, Crypto News Flash noted that the number of interacting wallet addresses with Shibarium had reached 14,236,699 with total transactions at 5,088,500. Per the report, Shiabarium was noted to have a total block of 685,308 and an average block time of 5.2 seconds.
In tandem, in one week, the total number of wallet addresses interacting with Shibarium has surged by almost 4 percent. This shows that even at its beta testing stage, the scaling solution is gaining outstanding traction. Crypto-related entities including Dubai-headquartered cryptocurrency exchange ByBit have contributed to this laudable report through their actions.
Bybit announced a $20,000 Tether (USDT) giveaway for customers who trade Shiba Inu tokens. Winners will be decided based on their trading volume of the SHIB/USDT pair during the giveaways campaign. However, the giveaway was not limited to SHIB but other memecoin as well, especially those that netizens have been raving about in recent times.
📣 The Memes Carnival is here!
Simply trade $DOGE, $PEPE, $SHIB, $LADYS, $FLOKI, and more #memecoins to earn your share of the 20,000 $USDT Prize Pool!
🗓️ From now till May 18, 2023, 11:30AM UTC
Join the event: https://t.co/eesdGaZaWr#TheCryptoArk #BybitSpot pic.twitter.com/LSol0JG0UU
— Bybit (@Bybit_Official) May 11, 2023
In what Bybit termed “The Memes Carnival”, memecoins like frog-themed PEPE, the newly trending Milady token (LADY), Floki Inu (FLOKI), and Dogecoin (DOGE) were listed. The giveaway is scheduled to end in the early hours of Thursday, May, 18th. The winner will receive $1200 worth of USDT from the total prize pool while the first runner-up is entitled to $800 USDT.
VOT, OoO, xFUND Deployed in Shibarium
Unification Foundation, the official Shibarium developer, intimated the Shiba Inu community with a couple of updates about the deployment of Verified Open Randomness (VOR) and Oracle of Oracles (OoO).
According to Unification, their deployment on the Shibarium beta testnet which is already ongoing will usher in more secure tools for the Shib Army’s investments. Apart from these two deployments, the XFUND test token has also been deployed on the Shibarium beta testnet. As per a published statement by the Unification Foundation, the transfer of xFUND test tokens between L1 (Goerli) and L2 was completed successfully.
According to a shared blog post, it was revealed that to date, it has “deployed the xFUND Test token on the Shibarium beta testnet, and have successfully bridged L1 to L2. We have also successfully transferred xFUND test tokens between L1 (Goerli) and L2.”
The protocol noted that the next stage will be to deploy the respective OoO and VOR Router smart contracts on Shibarium L2, and finally spin up the Oracle applications to serve data requests blog post.
