Why Did "Shibarium" Disappear from the Gate Cryptocurrency Exchange?

In April 2024, Shibarium's withdrawal option mysteriously disappeared from Gate.io, a major cryptocurrency exchange.

Discover the potential reasons behind this sudden change and what it means for the future of Shibarium and BONE transactions.

Stay updated with the latest developments as we anticipate the reintegration of Shibarium post its critical hard fork.

Background of Shibarium's Discontinuation at Gate.io

It is now clear why Shiba Inu (SHIB) related Layer 2 "Shibarium", which was supported by the virtual currency exchange Gate.io, is suddenly no longer supported.

Shibarium, a Layer 2 network associated with the Shiba Inu (SHIB) cryptocurrency and launched by the SHIB team in August 2023, is known for executing transactions at high speed with significantly low fees.

Gate.io was one of the prominent cryptocurrency exchanges supporting the Shibarium network and also handled its gas token, "BONE".

Consequently, it became a crucial platform for Shibarium users, as they could bridge BONE from Ethereum to Shibarium at a relatively low cost through Gate.io, preparing "Shibarium BONE" in their wallets with minimal fees.

Towards the end of April 2024, the option to withdraw BONE via Shibarium mysteriously vanished from Gate.io without a detailed explanation, causing confusion within the community.

Awaiting the Completion of Shibarium's Hard Fork

Questions regarding the cessation of Shibarium support on Gate.io emerged in Shibarium’s Telegram community. A Shibarium team member, DaVinci, clarified that Gate.io was undergoing maintenance and waiting for the completion of Shibarium's hard fork.

This hard fork, a significant upgrade for Shibarium, began on May 2, 2024. It involves two phases: "Bor", which was reported to be completed on May 3, and "Heimdall", scheduled for the same day.

However, there has been no completion report for the Heimdall hard fork at the time of writing, suggesting that the process is not yet fully complete.

If the disappearance of Shibarium from Gate.io was due to the hard fork, it is expected that Shibarium will reappear as an option once the hard fork is finalized and after final checks are completed by Gate.

This makes upcoming reports and official announcements worth watching.

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