2 months ago
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Shiba Inu’s Shibarium blockchain sees remarkable growth and community backing, positioning it for continued expansion in the decentralized finance space.
Key Notes
Shibarium TVL soars to $3.64 million in one week, driven by active user engagement and confidence.Shibarium becomes the Second-largest validator, signaling strong community support post-Mainnet launch.SHI stablecoin in the works to boost utility, DeFi integration, and risk reduction.The marketing lead at Shiba Inu, Lucie, has revealed the latest achievement of the blockchain protocol. According to her, Shibarium has achieved a significant milestone in just one week after the launch of Bone Crusher, a project within the Shiba Inu ecosystem associated with K9 Finance. This platform allows users to stake their Bone tokens BONE $0.45 24h volatility: 6.7% Market cap: $113.35 M Vol. 24h: $6.45 M while retaining liquidity through a liquid staking mechanism.
Shibarium Total Value Locked (TVL) has increased to $3.64 million, which can be attributed to users’ active usage and confidence in the network. The marketing lead further listed some important figures that the company has been able to achieve in the past week.
Aside from the TVL hitting $3.64 million, 93.7 billion KNINE tokens have also been bridged to the Shibarium network, which is proof of strong liquidity. The number of staked KNINE tokens has also increased to 77.8 billion KNINE tokens, showing that users’ confidence in the project has increased.
Lucie also revealed that users are committed to the token for the long term, with an average lock time of 10.32 months. In addition to KNINE, approximately 2.6 million BONE tokens have been liquid-staked, boosting the platform’s liquidity and overall ecosystem. This creates more opportunities for users looking to diversify their portfolios within the platform.
Adding to the blockchain protocol’s recent achievements, Shibarium is now the second-largest validator, which shows strong community support for the network.
Lucie noted that this growth occurred shortly after the Shibarium Mainnet launch, which is a testament to the positive reception from the community. More so, it shows that members are actively using the platform and are eager for further projects that the Shiba Inu team offers. She said:
“This growth comes shortly after the Shibarium Mainnet launch, pointing to a positive reception from the community. The data indicates that users are engaging with the platform and are interested in what Shibarium has to offer.
As Shibarium continues to develop, this week’s performance lays a promising groundwork for future progress. The community’s involvement will be crucial as the platform evolves in the decentralized finance space.”
Future Potential: SHI Stablecoin and Expanded Opportunities
Prior to that, Lucie revealed the SHI stablecoin, which the team is still working on and has not yet released. She stated that the launch of the SHI stablecoin will further enhance the Shibarium network as it will serve various purposes.
SHI stablecoin will offer price stability, enhance utility, defi integration, secure transactions, and reduce risk related to price manipulation, among other things.
Thus, with promising metrics and high community participation, Shibarium is set for increased growth within the crypto sector. The platform’s achievements in the past week give it a solid foundation for future development, which could include more features to engage users or perhaps improved security measures and expanded opportunities for users.
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Temitope is a writer with more than four years of experience writing across various niches. He has a special interest in the fintech and blockchain spaces and enjoy writing articles in those areas. He holds bachelor's and master's degrees in linguistics. When not writing, he trades forex and plays video games.
