ETH
by BSC News
January 7, 2023
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!
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.
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.
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.
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