Shibarium Hard Fork and SHIB Destruction Mechanism Officially Confirmed

Shibarium X has officially announced that its Layer 2 (L2) network will undergo an important hard fork upgrade at 9:15 am (UTC) on August 9, 2024. The core highlight of this upgrade is the introduction of the SHIB destruction mechanism that the community has been looking forward to, which aims to further enhance the stability of the Shibarium ecosystem and the value of the token.

According to the official announcement, a new Bor version v1.1.2-bone will be released after the hard fork, which will integrate the SHIB destruction mechanism, which is an important milestone in the development of the Shiba Inu ecosystem. The marketing director of the Shiba Inu ecosystem further clarified the specific operation of the destruction mechanism, pointing out that the destruction will be directly linked to Shibarium's transaction fees. Specifically, once the hard fork is successfully launched, 70% of the basic transaction fees in the network will be automatically converted to SHIB tokens and permanently removed from the circulation market, thereby effectively reducing the total supply of SHIB and increasing the scarcity and potential value of the token.

This hard fork is not only a major technical update, but also a fulfillment of the promise of the Shiba Inu community. By introducing the destruction mechanism, the Shibarium team has demonstrated its commitment to maintaining the value of tokens, improving user experience, and promoting the sustainable development of the ecosystem. With the increase in transaction speed and the increased predictability of transaction fees, the Shibarium network is expected to attract more users and developers to join, further promoting the prosperity of the Shiba Inu ecosystem.

In addition, the launch of the hard fork also marks another technological leap for the Shibarium network. As a key component of the Shiba Inu ecosystem, the Shibarium network plays an irreplaceable role in improving transaction efficiency and reducing transaction costs. With the release of the new version and the introduction of the destruction mechanism, the Shibarium network will become more mature and stable, laying a solid foundation for the long-term development of the Shiba Inu token.

The launch of the hard fork and destruction mechanism is undoubtedly a positive signal. It not only demonstrates the technical strength and strategic vision of the project team, but also provides a strong guarantee for the long-term value growth of the token. With the continuous improvement of the Shibarium network and the continuous expansion of the ecosystem, the Shiba Inu token is expected to show a broader development prospect in the future.