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Shiba Confirms Shibarium Transactions Will Burn $SHIB, Use $BONE Gas

Shibarium Network devs confirmed that all transactions on the upcoming layer-2 blockchain will burn $SHIB and only use $BONE for gas. Go Shiba Inu!

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January 7, 2023

Layer-2 Network to Support SHIB

The Shiba Inu community couldn’t be more amped about the impending launch of the Shibarium Network. Especially not after developers confirmed that all transactions on the layer-2 blockchain will burn $SHIB and use $BONE for gas fees.

We are focused in delivery at this time, please stay tuned for additional information and as we approach our beta launch.

Please follow @ShibariumNET and our official portals for any information in regards to the protocol.

2/2 🧵
— Shibarium Network (@ShibariumNet) January 7, 2023

The short Twitter thread on Jan. 6 followed a longer thread by Shibarium on Jan. 4 created in response to “rumors alongside claims that involve other ❌ tokens in the network or that are required to utilize it.”

In the thread, the developers re-asserted that $BONE is the only gas token needed for Shibarium, and that the chain is being developed solely to support the Shiba Inu ecosystem.

Furthermore, and to make it strictly clear: Shibarium has been developed for @Shibtoken and not for the sake of other projects who claim ownership or speculation surrounding its operability dependency on any other tokens.

4/6 🧵
— Shibarium Network (@ShibariumNet) January 4, 2023

What is Shiba Inu:

Shiba Inu is an Ethereum-based altcoin that has the Shiba Inu—a Japanese breed of hunting dog—as its mascot. The SHIB token aspires to be an Ethereum-based alternative to Dogecoin (DOGE). Unlike Bitcoin, which is designed to be scarce, SHIB was created to be intentionally abundant — with a total supply of one quadrillion. The Shiba Inu Token ecosystem supports projects such as an NFT art incubator and the development of a decentralized exchange called Shibaswap.