Shibarium is the upcoming Layer-2 blockchain developed by the Shiba Inu project. As a Layer-2 solution, it aims to interact seamlessly with the main Ethereum blockchain (Layer-1), providing a more scalable and cost-efficient transaction platform. Currently, ShibaSwap ranks 110th in the Ethereum DeFi protocol rankings on DeFiLama, but impressively holds 9th place in terms of 24-hour trading volume. This indicates that although ShibaSwap's TVL is relatively low, it is still a recognized player in the DeFi space.
The pillar of Shibarium is its gas token BONE, which powers network transactions. Complementing BONE is the project's utility token SHIB. This token grants access to exclusive benefits and privileges within the Shiba Inu ecosystem, making it a valuable asset for holders. Additionally, SHIB is also the main liquidity pair on the Shibaswap decentralized exchange (DEX), further enhancing its utility and value.
As developers flock to the network to launch decentralized applications (dApps) and smart contracts, the momentum for Shibarium Layer-2 is growing stronger. This growth indicates the immense potential of Shiba Inu and its ability to attract various users and developers.
