The layer 2 network will utilize bone, treat, shib and leash tokens for applications built on the blockchain.

The much-awaited layer 2 blockchain Shibarium is expected to go live after a Toronto conference in August, developer Shytoshi Kusama said in a Thursday blog.

Layer 2 refers to a set of off-chain systems (separate blockchains) built on top of layer 1 protocols that reduce bottlenecks with scaling and data. These bundle multiple off-chain transactions into a single layer 1 transaction, which helps reduce the data load and fees.

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