Shibarium, Shiba Inu's own Layer 2 blockchain, is nearing completion of development.
The Shiba Inu community has been, from the beginning, one of those most involved in the project. At this moment, the #SHIBArmy is very excited, as Shibarium, Shiba Inu's native layer 2 blockchain, is about to finish its development.
In fact, several reports indicate that the testnet of Shibarium could launch in June. One of the main indicators that the Shibarium testnet could be activated this month has been the update of the $XFUND mainnet.
Shytoshi Kusama, one of the main developers of Shiba Inu, has posted several cryptic messages about the development of the project. One of the latest clues was a GIF in which he dropped the following message: “laughter in Shibarium”, and which many members of the community interpreted as a positive sign that Shibarium was about to become a reality.
The community has high hopes for Shibarium, since the project blog explained that The transactions would be almost immediate and would only cost a few cents on the dollar. Shytoshi himself corroborated this information in a Discord discussion, with which Shibarium could position itself as a perfect solution for games and services.
The team is working on a Shibarium Hackathon that attracts talent and developers from other blockchains. In this sense, if the blockchain could obtain several use cases In the real world, whether it was DeFi or GameFi applications, the token could gain strong momentum.
The Shiba Inu Metaverse as a Use Case
On the other hand, Shibarium could offer other benefits to the ecosystem, e.g. creating bridges with other blockchains. This would attract developers from the DeFi and Web 3 world to the ecosystem, which could greatly boost the price of the SHIB token as well as the usability of its native tokens.
On the other hand, the foray into the Shiba Inu metaverse has improved the usability of the meme token. In this sense, users flocked to purchase plots of land from their metaverse, Shibaverse, whose rewards will be available starting July 22. Users could lock their LEASH tokens to bid (once per plot and per wallet address) for a plot.
Beyond the metaverse, the Shiba Inu development team has been working on other use cases such as Shi, Shibanet, the project incubator or the decentralized game based on Shiboshi NFTs.
Shiba Inu problems
To the concern of the Shiba Inu community about the recent Ryoshi's disappearance, the creator of the token, has added to the drop in burning rate of SHIB tokens, which fell by 64,2% over the last 24 hours, which could curb a possible bullish trend.
Separately, Finder, an independent comparison site, has published a report that contradicts the enthusiasm of the Shiba Inu community. In it, they point out that Shiba Inu could go the way of Terra, due to the token's lack of real-world use cases.
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