SHIB News: Shiba Inu Team Announces Two Major Milestones

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As a seasoned researcher with years of experience in the cryptocurrency market, I’ve seen my fair share of announcements and launches. However, the recent developments from the Shiba Inu team have truly piqued my interest. The 140,000 NFTs minted on Shibarium for a meager gas fee of around $310 is nothing short of remarkable. This is a testament to the platform’s scalability and cost-efficiency, making it an attractive choice for large-scale NFT projects.

As a proud crypto investor in Shiba Inu, I’m thrilled to share some exciting news about our beloved network. The team has just announced two significant achievements that are poised to boost the functionality and vibrancy of our ecosystem.

140,000 NFTs Minted On Shibarium

Shibarium, a platform created to boost transaction speeds and lower costs within the Shiba Inu community, has recently witnessed more than 140,000 NFTs being minted at a gas fee expense of approximately 800 BONE ($310). This significant achievement was brought to light by Shiba Inu’s marketing lead, Lucie (@LucieSHIB), who showcased the triumph through X.

Lucie highlighted the cost-effectiveness and ability to handle large tasks (scalability) of Shibarium, pointing out, “We’re thrilled to unveil an outstanding milestone from our Shiba Eternity beta, exclusively available to Leash holders! To date, these diligent testers have minted a massive 140,000 NFTs on Shibarium. This demonstrates the platform’s potency and scalability. What’s even more noteworthy is the cost-effectiveness: less than 800 BONE has been used for gas fees in these transactions.

Lucie also pointed out that this achievement underscores a significant advantage of Shibarium – its ability to keep transaction costs incredibly low even during heavy activity. This characteristic makes Shibarium particularly suitable for NFT projects and other decentralized applications demanding high capacity and cost effectiveness, as she noted: “This underlines one of Shibarium’s key strengths – extraordinarily affordable transaction fees. With a large number of minting activities, gas fees remain minimal, which makes it perfect for extensive NFT initiatives.

Lucie mentioned that “It’s important to remember – there are over 1.4 million Shib holders registered on the blockchain, many of whom have not yet actively participated in DeFi using Shibarium. This suggests that our large community is still largely untapped for this DeFi journey through Shibarium.

In the beta stage, all gas fees were covered, making it more affordable for creators to engage and mint NFTs without initial expenses. This, in turn, demonstrates that Shibarium is not only scalable but also budget-friendly, thereby opening up new possibilities for our community, as stated by Lucie.

Launch Date For Shiba Inu Staking Revealed

Meanwhile, K9 Finance is gearing up for the launch of its staking service within the Shiba Inu (SHIB) community on September 18th, having passed a thorough audit by SourceHat. This move will offer SHIB token holders a chance to earn rewards when they secure their BONE tokens, thus helping to strengthen and reinforce the network’s security and stability.

The audit of K9 Finance’s smart contracts, conducted by SourceHat, has been completed successfully. The team announced that their liquid staking & farming functionality will launch on September 18th.

The Shiba Inu team expressed excitement about the upcoming launch, highlighting that K9 has been diligently working to boost community interaction and regularly sharing updates on their advancements. With this new staking feature, SHIB token holders can securely store their coins and receive incentives as a reward for supporting the network’s security.

At press time, SHIB traded at $0.00001320.

SHIB News: Shiba Inu Team Announces Two Major Milestones

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2024-09-06 23:41