Shiba Inu (SHIB) developers provided an update to tell the community about the imminent beta release of Shibarium, a layer-2 network that will run on top of the Ethereum mainnet.
One of the most-requested improvements for the project, a SHIB burning mechanism, is a crucial update in the current announcement. According to the developers, “all transactions on the network will have an implicit burn amount for $SHIB token.”
Shibarium layer-2 network beta date ‘soon’
Shibarium is being constructed to provide a tool to allow the community to build and grow the project and realize its founder’s vision, according to an announcement made by SHIB developers.
While the developers did not provide a specific release date, the team maintained that the answer to any time-related concerns is “soon.”
While some assume Shibarium was created to enhance the price of the meme token, the developers stated that this was not the intention.
“Patience is key, and some see Shibarium as a price-pumping tool, but that is not the project’s focus and never has been,” devs wrote.
Instead, the developers stated that by lowering entry barriers for tiny transactions, enhancing speed, enabling the creation of decentralized applications, and incorporating nonfungible tokens, the new infrastructure update aims to “revolutionize the Shiba ecosystem”