All news is rigorously fact-checked and reviewed by leading blockchain experts and seasoned industry insiders.
- Shiba Inu is introducing a meme contest to engage the community with rewards in BONE.
- Partnerships and events are outlined ahead of the Shibarium launch.
Shiba Inu (SHIB) has decided to interest SHIBArmy or its dedicated community members with some fun activities including a giveaway as the launch of its Layer-2 scaling solution Shibarium draws near.
Top Shiba Inu Milestones Unlocked
A tweet from Shiba Inu’s marketing expert, Lucie SHIB suggests that the protocol is preparing for some exciting activities on the Shibarium Tech Discord channel. There is an incoming ‘meme battle’ where participants get to compete for prizes of up to $250 worth of BONE token, the potential currency for transaction fees and smart contract interactions within the Shibarium network.
The memes should be themed “SHIB > X,” with the team looking for the ultimate meme that showcases “SHIB supremacy over X.” No other details were provided by Lucie, however, the SHIB core team member invited those who wish to participate to join the Discord channel.
Besides these contest, other exciting updates have been released in the Shiba Inu ecosystem these past few days. Shytoshi Kusama, Shiba Inu’s lead developer announced on the Shibarium Tech channel that there are three new “partnershibs” coming, with one already signed and the ink already dried. This first partnership has sparked a lot of excitement amongst the SHIB team as it is billed to bring new incredible and powerful advisors to their “decentralization house.”
According to Kusama, these are only a few of the strategic partnerships which the team plans to pursue in the long run to demonstrate the protocol’s potential to drive decentralization in the cryptocurrency industry and the SHIB team remains committed to this vision.
The lead developer shared an equation “SHIB > X.” Furthermore, he “X-plained” it in a Discord post to mean that Shiba Inu will always be bigger than Elon Musk’s X app which was formerly known as Twitter. Kusama believes that the launch of L2 blockchain Shibarium will demonstrate this potential to the global crypto community.
Relevance of Shibarium Gas Token: BONE
Noteworthy, BONE became the ‘gas’ of the Shiba Inu’s layer-2 solution after Shiba Inu developers announced a community vote for the governance token on Sunday, June 19th, 2022.
It meant that BONE will be essential to conduct any transactions taking place on the Shibarium protocol. The fact under contention at the time was whether to give BONE users authority to validate and verify transactions. This will give them permission to farm and hold $BONE, a passive income-generating ability that will also be one of the biggest benefits of the ShibaSwap platform.
Following its acceptance, BONE price surged by 87% trading at $1.77 with more investors increasing their portfolio by more than two folds. Investors’ increased interest in BONE is said to have been fueled by the upcoming Shibarium launch, seeing that it would be a use case in the Shibarium network. By July 2023, new addresses for BONE had jumped by a remarkable 145%.
The launch of Shibarium is still expected to happen this month at the Blockchain Futurist Conference in Toronto, which is set to take place on August 15-16, 2023.
