This is Part 2 of our beginners guide to Shibarium. Here you can find a link to Part 1. In Part 1, we answered three popular questions about this protocol. In Part 2 we will answer another three questions.
So, let’s dive in to Shibarium.
Attention #SHIBARMY 🚨
We're thrilled to announce that #SHIBARIUM Public Beta will be launching THIS WEEK! 🎉
Make sure you’re following our official socials over the next few days as we reveal all the details on how to access the beta website. Hail Shib! #ShibariumBeta 🦴 pic.twitter.com/ZsgEm3AjPH
— Shibarium Network (@ShibariumNet) March 7, 2023
When Will Shibarium Be Released?
There’s currently no official release date for the Shibarium mainnet. In March, we saw the release of the testnet. It is likely, but not confirmed, that a mainnet can be during Q3 or Q4 in 2023.
In Part 1 we already discussed the current Shibarium ecosystem on their testnet. You can expect to see growth in said ecosystem. The testnet will also need some strenuous testing before it can upgrade to a mainnet version.
So, the best advice is to follow all relevant social media channels. Their Twitter account or the Discord server may be your best choice as first ports of call.
🍖 Introduction to Shibarium: Shiba Inu's Layer 2 Network — Rejoice #ShibArmy! Shibarium Beta is about to be launched, and through this article we want to introduce some basic concepts in order to provide clarity to the community.
Read more: https://t.co/mvV5iw54Ts
— Shibarium Network (@ShibariumNet) January 15, 2023
Shibarium vs Shiba Inu
Shibarium is a layer 2 chain that will offer a greater ecosystem to the Shiba Inu token. Both are closely interconnected. The Shibarium network will offer plenty of benefits to Shiba Inu. With an extended ecosystem behind it, Shiba Inu will be easier accessible. For example, it will be easier and cheaper to trade SHIB.
The idea for Shibarium originated from Ryoshi. He is the anonymous creator of Shiba Inu. In his vision, he saw the need for Shiba Inu’s own decentralized blockchain. Shytoshi Kusama is the Shiba Project Lead, and he followed up on this idea.
As a result, at the time of writing this article, we have a live testnet version of Shibarium. It already has a small but developing ecosystem. I touched on this in Part 1. It will take some time to develop this new layer 2 blockchain. However, once it’s up and running, we may see Shiba Inu moving up a few ranks.
🚨Hi #SHIBARMY! We are happy to announce that Shibarium's Testnet is running again. You can now access the Docs to learn how to set up your equipment & understand how Shibarium works. You will find the Docs here: https://t.co/1FDQOnd9Gu 🦴
— Shib (@Shibtoken) March 24, 2023
Where to Buy Shibarium Coin?
Currently, there is no Shibarium token. However, you can use the BONE token to pay for gas fees. That’s the only token in use on the platform. We mentioned already that the protocol burns 70% of these gas fees. But that’s a bit tricky, I already explained that it doesn’t burn BONE but SHIB. Furthermore, their Twitter account links to the SHIB token.
In other words, the BONE supply remains consistent. On the other hand, the SHIB supply becomes deflationary. So, if we focus on SHIB as the current token for Shibarium, it’s time to find out where you can buy it.
SHIB is currently in 16th spot according to size of market cap. It should come as no surprise that all major CEXes offer SHIB, for example:
- Binance
- Coinbase
- ByBit
- OKX
- Gate.io
- Huobi
- Crypto.com
You can also find SHIB in the DeFi space, on a few selected DEXes:
- ShibaSwap
- Uniswap V2 and V3.
The picture below shows some available markets for SHIB.
Source: CoinGecko
Conclusion
This is Part 2 of our 2-part series of the Shibarium beginner’s guide. In this article, we covered three popular questions about Shibarium. For example, when we can expect the release of the Shibarium network. We also looked into how the protocol relates to Shiba Inu and where you can buy its token. For a link to Part 1, please look at the top of this article.
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