Robert Steinadler, 18 days ago
The Shibarium launch has been postponed a few times and the community marveled about what would happen once the launch commenced. It looks like we all are going to find out soon. The Shiba Inu team announced that the beta version will start this week. Since it is already Thursday it looks like we don’t have to wait much longer.
What are we going to expect from the launch and for Shiba Inu’s ecosystem as well as its further development as a platform?
The biggest hope of investors and the community is that Shibarium will drive the adoption of SHIB, LEASH and BONE. All three tokens are associated with the Shiba Inu ecosystem that relies on a burn mechanism to add scarcity to the equation.
The launch of the platform has been postponed several times and teased over and over again. Critics pointed out that this is not fair game since investors are counting on the launch to drive more attention to SHIB. According to a post on Twitter from last Tuesday, the waiting will be over latest by the end of this week.
The public beta will reveal all the options that users have with the layer-2 solution as well as its potential. Shibarium is meant to boost transactions along those that are conducted on Ethereum but is also a gateway to Web3 and the Metaverse. Shibarium will be a testing ground during the beta until the mainnet release.
The tokenomics behind SHIB are driven by a mechanism that burns tokens. The more tokens are burned, the scarcer SHIB becomes. Shibarium is supposed to accelerate this process by providing a strong use case that drives demand for SHIB.
Users will need SHIB to use the platform and the platform will in return burn a part of the tokens that have been spent. In theory, this creates a cycle in which the price for SHIB rises together with its demand. It remains to be seen if Shibarium becomes indeed a major driving factor for Shiba Inu’s ecosystem.
The price for SHIB fell recently along with the rest of the market, while the burn rate increased to almost 28,000% within the last 24 hours at the time of writing. This fact underlines the importance and also feasibility of the plans. At the same time, it shows that tokenomics can influence the price but doesn’t have to be necessarily the driving factor.
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