Shibarium Network Enables BONE and SHIB Payments

As of April 12, 2024, D3 Corporation introduces an exciting update for SHIB domain purchasers—now allowing payments via the Shibarium network with BONE and SHIB.

This guide explores the benefits of the update, including significantly reduced transaction fees and a streamlined payment process, paving the way for more widespread adoption of SHIB-related domains.

BONE and SHIB settlements via Shibarium are now available

As of April 12, 2024, D3 Corporation, known for developing Web3 domains in the Shiba Inu (SHIB) ecosystem, announced that it has added the option to make payments using BONE and SHIB via the Shibarium network when purchasing SHIB domains.

D3 Corporation is a company that develops next-generation domains compatible with both Web2 and Web3, and has been collaborating with SHIB to sell domains in the format of *SHIB.

Previously, purchasing *SHIB domains allowed for cryptocurrency and credit card payments. The new update, however, introduces payments via the Shibarium network using BONE and SHIB, enhancing the accessibility and convenience for domain buyers.

Upon purchasing a domain from D3 Corporation, the initial process required the domain to be minted into an NFT after purchase. With the latest update, a feature has been added that allows the direct minting of domain NFTs into one's wallet.

Benefits of Paying with Shibarium

Sending SHIB and BONE over the Ethereum network typically incurs transaction fees amounting to several $10 per transaction, which has been a major concern for cryptocurrency users due to the high fees.

However, transactions on the Shibarium network can be completed with a negligible fee of less than $0.01, significantly reducing the transaction costs for cryptocurrency payments.

For those who only held BONE and SHIB on Shibarium, previously, they needed to bridge these assets to Ethereum before making a payment. Now, this step can be skipped, which is a significant advantage.

Although the number of services supporting the Shibarium network remains limited, there is a growing demand for more support. If support for Shibarium expands, it would allow cryptocurrency transactions to be conducted almost without worrying about fees.

Furthermore, Shibarium has implemented a mechanism where a portion of the fees collected from each on-chain transaction is allocated to burning (destroying) SHIB, which could potentially reduce the supply of SHIB and lead to an increase in its price as transaction activity on Shibarium increases.

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