Shiba Inu Team Announces "WBONE" on Shibarium and Celebrates 1 Million Transactions Milestone

Exciting news from the Shiba Inu team! Discover the new "WBONE" token on the Shibarium platform and the monumental achievement of 1 million transactions.

Dive into the future prospects of Shibarium as it continues to gain momentum in the crypto space.

Introduction of the "WBONE" Token on the Shibarium Platform

On September 3, 2023, the Shiba Inu/SHIB team announced the launch of "Wrapped BONE (WBONE)," a wrapped token based on the Shiba Inu's L2, "Shibarium."

A wrapped token is essentially a different blockchain token standard designed to have the same value as a specific token.

These types of tokens are quite popular in the cryptocurrency world, with examples like "WBTC" and "WETH."

"Wrapped BONE (WBONE)" is the Shibarium-based version of BONE.

By converting BONE into WBONE, it's explained that one can seamlessly integrate with various decentralized finance (DeFi) platforms and decentralized exchanges (DEX).

In a post dated September 3, 2023, Shiba Inu's marketing member, LUCIE, stated that "WBONE could potentially be created on other DEXs, but the version provided by the SHIB development team will be announced soon."

Deep Dive: Understanding the WBONE

WBONE, short for "Wrapped BONE," is a token based on the Shibarium platform. It represents a standardized version of BONE, compatible with Shibarium network's smart contracts and decentralized applications (DApps).

By using WBONE, you can enhance the compatibility of BONE with other tokens and DApps on the Shibarium network.

Through converting BONE to WBONE, seamless integration with various DeFi protocols and DEXs requiring standardized tokens becomes possible.

Updates from the SHIB Official Blog

The SHIB official blog was updated on September 3, 2023, by developer Kaal Dhairya.

The update reported that the number of connected wallets on Shibarium surpassed one million and that the platform reached a milestone of one million transactions.

Furthermore, the previously reported hosted version of the "BlockScout Explorer" is now available as "Shibariumscan."

This advancement allows the dedicated protocol team to focus on network upgrades and pushes initiatives related to projects built on Shibarium.

However, there's a caveat: projects cannot proceed if their contracts aren't verified. Therefore, there's a clear directive to always use the BlockScout contract verification system.

Moreover, the bridging of several tokens such as "USDT, USDC, DAI, WBTC, and XFUND" was reported. Collaborations are underway with numerous third-party bridges to bridge many more tokens to Shibarium.

Additionally, reports indicate an upcoming renunciation of the BONE contract this week and plans to add more validators to the network.

Given the continuous support announcements for Shibarium from external services since its official launch, there's growing anticipation for more extensive technical adoption of Shibarium in the future.