The Shiba Inu community’s attention has currently shifted towards the launch of Shibaswap, the decentralized exchange. Much like the teasing glimpses of Shibarium’s arrival, the SHIB network’s team has been dropping hints about Shibaswap. However, Shytoshi Kusama, the lead developer, recently provided more insights regarding the potential release.
On Telegram, Kusama revealed the successful finalization of essential elements, among them Wrapped Bone [WBONE]. This token served the purpose of ensuring compatibility between BONE and smart contracts as well as decentralized applications operating on the Shibarium network.
Additionally, the developer also provided insights regarding Shibaswap. However, the news was not entirely positive. Kusama indicated that there will be a postponement to prioritize the growth of other projects established on Shibarium before launching Shibaswap. This delay serves the dual purpose of safeguarding network stability and security, reflecting the team’s prudent approach to overseeing its expansion.
As seen in the image, Kusama clarifies that the community shouldn’t “expect Shibaswap immediately.” He further urged them to give space to other tokens and projects. In light of Shibarium-related advancements, Kusama noted that the network will be “renouncing the contract.” It is a measure involving the transfer of smart contract control to a decentralized entity or a multi-signature wallet in order to enhance security.
Also Read: Shibarium Hopes Lift Shiba Inu as Whale Transactions Surge Over 300%
How is Shibarium faring?
Shibarium managed to lock in an impressive $1.47 million in revenue last week, and as of now, the network has accumulated $1.05 million. Shibarium is currently home to nine active projects, which are DogSwap, MARSWAP, WoofSwap, Woof Finance, Shibex, LeetSwap, ShibFi, ChocoInu, and BoneDex.
Additionally, at press time, SHIB was trading at $0.000007724, with a 1.58% daily drop.
Also Read: Shiba Inu: Can Shibarium Burn 111 Trillion SHIB Every Year?
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