The Shiba Inu team has announced two major milestones that promise to boost the utility and dynamics of its network. Shiba Inu’s layer-2 solution, Shibarium, has achieved a major milestone in minting NFTs. Meanwhile, K9 Finance, the ecosystem’s official staking solution, is set to launch a staking solution for BONE after passing smart contract audits.
140,000 NFTs minted on Shibarium
Shibarium, which is designed to boost transaction speeds and reduce costs for the Shiba Inu ecosystem, recently saw over 140,000 NFTs minted with just around 800 BON (~$310) spent in gas fees. Shiba Inu’s CMO Lucy (@LucieSHIB) highlighted the achievement, saying: subscriber Success story via X.
Lucy emphasized Shibarium’s cost-efficiency and scalability, saying, “We are excited to share an incredible achievement from our Shiba Eternity beta for Leash holders! To date, these dedicated testers have minted an incredible 140,000 NFTs on Shibarium, demonstrating the power and scalability of the platform. Even more impressive is the cost-efficiency: only about 800 BONE were spent on gas fees for these transactions.”
Lucy also noted that this achievement demonstrates one of Shibarium’s key strengths — its ability to maintain extremely low transaction costs despite high volumes of activity. This feature makes Shibarium ideal for NFT projects and other decentralized applications that require high throughput and cost efficiency.“This highlights one of Shibarium’s key strengths – its extremely low transaction costs. Despite the large minting volume, gas fees remain minimal, making it ideal for large-scale NFT projects,” she noted.
“And don’t forget that Shib has over 1.4 million holders on the chain, which is far more than what is currently active, meaning our massive army has yet to fully embark on this DeFi journey through Shibarium,” Lucy added.
During the beta phase, all gas fees were supported, significantly lowering the barrier for creators to participate and create NFTs without incurring upfront costs. “As we continue to build, Shibarium has proven to be scalable and cost-effective, opening up new opportunities for our community,” Lucy added.
Shiba Inu Staking Launch Date Revealed
Elsewhere, K9 Finance is set to launch its staking service for the SHIB ecosystem on September 18, following a successful audit by SourceHat. This development is expected to provide SHIB holders with the opportunity to earn rewards by locking their BONE tokens, thus contributing to the security and robustness of the network.
K9 Finance’s readiness for this launch was confirmed in a post on X, detailing the successful completion of the smart contract audit and the upcoming staking feature. “Smart contract audit passed. KNINE staking and liquid farming contracts successfully audited by SourceHat. Launch date: September 18,” K9 Finance team It was announced.
The Shiba Inu team described the anticipation surrounding the launch, noting that “K9 is working tirelessly to foster community engagement and provide updates on its progress. With this staking solution, Shiba Inu holders can lock their tokens and earn rewards for securing the network.”
At the time of publishing this report, SHIB stock was trading at $0.00001320.
Featured image created using DALL.E, chart from TradingView.com
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