Shibarium Blockchain News

Shibarium Blockchain News

Karen Tren
Fact Checked
Sep 11, 2022

Summary Shibarium is the Layer 2 blockchain that is being built on Ethereum by the Shiba Inu team. This means that the SHIB token will be the governance token for an L2 protocol, similar to Optimism and the OP token.

Shiba Inu lead developer Shytoshi Kusama believes that Shiba Inu will reach a new all-time high after Shibarium is released, because it will turn SHIB into a smart contract protocol like Optimism, Arbitrum, and Polygon. Shibarium is expected to be released in Q4 2022.

Table of Contents

Shibarium Platform Highlights

Platform Highlights

  • Shibarium is a Layer 2 Blockchain built on Ethereum.
  • Low transaction fees with $BONE as the gas token.
  • Native application layer blockchain for the SHIBA ecosystem.

What is Shibarium L2?

The Shibarium L2 is a Layer 2 protocol like Optimism or Polygon that is being built by the Shiba Inu community. Shibarium is designed to be a blockchain that is optimized for gaming applications to attract developers to build a vibrant metaverse and gaming ecosystem on top of the network.

The SHIB token will be the protocol and gas token for the network, which should drive the demand and subsequently increase the price. This could make SHIB as valuable as top Layer 1 blockchains like Ethereum, Binance, and Solana. There are also some rumors saying BONE could be used as the gas token as well, but this is not yet finalized.

Shibarium Leak by Shytoshi Kusama
Shibarium discussion by Shytoshi Kusama (CEO) via Shiba Inu Discord.

Shibarium Release Date

News around the Shibarium official release date has been relatively sparse. The founder of Shiba Inu, Shytoshi Kusama has only spoken on the topic a few times in public. In a recent Q&A on the Shiba Inu discord, he did tease that he is expecting the Shibarium L2 to be released in Q4 of 2022.

The Shibarium Coin

The official token for the Shibarium ecosystems will be SHIB and BONE. You can read more about how the BONE farms will crossover to the Shibarium L2 ecosystem from Ethereum Mainnet in this recent community proposal.

Who is Developing Shibarium?

The developers of Shibarium are called xFUND, they are a team of blockchain developers who work on DeFi governance protocols. They are a completely doxxed team based in Singapore who are widely regarded for their work on decentralized oracles that are competitors to networks like Chainlink.

Shiba Inu Price

The chart below is the live price of Shiba Inu (SHIB) in US Dollars.

Karen Tren

Full-time writer and cryptocurrency newbie! Learning about NFTs, DeFi and GameFi with my research and writing for BuyBitcoinBank.

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