The Shiba Inu team has recently unveiled significant advancements that are set to enhance the overall utility and dynamics of its network. Shibarium, Shiba Inu’s Layer 2 solution, has successfully achieved a noteworthy milestone in the minting of NFTs. Concurrently, K9 Finance, the ecosystem’s official staking solution, is gearing up to launch a staking solution for BONE after passing a smart contract audit. These developments mark a pivotal moment for the Shiba Inu community, promising increased engagement and functionality.
140,000 NFTs Minted on Shibarium
Shibarium, designed to improve transaction speeds and reduce costs within the Shiba Inu ecosystem, has recently seen over 140,000 NFTs minted. This impressive feat was achieved with an expenditure of only about 800 BONE (approximately $310) in gas fees. Shiba Inu’s marketing lead, Lucie (@LucieSHIB), highlighted this success story on social media, emphasizing the cost-efficiency and scalability of Shibarium.
Lucie stated, “We’re excited to share an incredible achievement from our Shiba Eternity beta closed for Leash holders! So far, these dedicated testers have minted a staggering 140,000 NFTs on Shibarium, showcasing both the power and scalability of the platform. Even more impressive is the cost-efficiency: only around 800 BONE has been spent on gas fees for these transactions.”
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This milestone underscores one of Shibarium’s key strengths—the ability to maintain extremely low transaction costs even with high volumes of activity. This feature makes Shibarium an ideal solution for NFT projects and other decentralized applications that require high throughput and cost efficiency. Lucie remarked, “This highlights one of Shibarium’s key strengths—extremely low transaction costs. Despite the high volume of minting, gas fees remain minimal, making it ideal for large-scale NFT projects.”
Lucie also mentioned the potential for further growth within the Shiba Inu community, adding, “And don’t forget—Shib has over 1.4 million holders on-chain, far more than what is currently active, meaning our massive army has yet to fully embark on this DeFi journey through Shibarium.”
During the beta phase, all gas fees were sponsored, significantly lowering the barrier for creators to participate and mint NFTs without incurring upfront costs. Lucie added, “As we continue to build, Shibarium is proving to be both scalable and cost-effective, unlocking new opportunities for our community.”
Launch Date for Shiba Inu Staking Revealed
In another exciting development, K9 Finance is preparing to launch its staking service for the SHIB ecosystem on September 18. This follows a successful audit by SourceHat, ensuring the security and reliability of the staking solution. This new feature will allow SHIB holders to earn rewards by locking up their BONE tokens, thus contributing to the security and robustness of the network.
K9 Finance confirmed this readiness through a social media post, detailing the successful completion of the smart contract audit and the upcoming staking feature. The announcement read, “Smart Contract Audit Passed. The KNINE Liquid Staking & Farming contracts have been successfully audited by SourceHat. Launch Date: September 18th.”
The Shiba Inu team expressed their anticipation for this launch, noting, “K9 has been working tirelessly to enhance community engagement and provided updates on its progress. With this staking solution, SHIB holders can lock up their tokens and earn rewards in return for securing the network.”
As of the latest update, SHIB is trading at $0.00001320, reflecting ongoing interest and engagement in the Shiba Inu ecosystem. These milestones represent significant steps forward for Shiba Inu, highlighting its potential for growth and innovation within the decentralized finance space.
