Developers outline Shibarium L2 launch timeline

Layer-2 network from the creators of the Shiba Inu meme token — Shibarium — will launch in August after a blockchain conference in Toronto. This information reported by the developer using the pseudonym Shitoshi Kusama.

“We will publish the completed Worldpaper, present new projects under the Shib brand and tell more about the Treat project,” added a project representative.

Also, a decentralized autonomous organization Doggy will be introduced to fund projects on Shibarium.

As of June, on the Puppynet testnet, more than 20 million transactions have been executed and about 16 million wallets have been registered.

The L2 solution uses the ecosystem tokens SHIB, LEASH and BONE. The latter was chosen as the native asset of Shibarium for paying rewards to validators and delegates. For these purposes, 20 million BONE have been reserved from the total issuance of 250 million coins.

In the last 24 hours BONE rose 8.1% to $1.14, according to CoinGecko. Other project coins hardly changed in price over the past 24 hours.

The protocol also employs a SHIB burning mechanism via Burn Portal.

In March 2022, the Shiba Inu team revealed details of the launch of its own metaverse built on Shibarium.