- Shiba Inu updates Shibarium hub to guide developers and support easier validator setup on the Ethereum Layer 2 network.
- Daily transactions on Shibarium stayed above 3 million showing strong growth in usage and active user participation.
- SHIB burn rate surged by over 2700% in 24 hours following increased network activity and developer engagement.
Shiba Inu has released a new update to its Shibarium developer hub to improve infrastructure and developer access. The updated hub now includes clear documentation for running validator nodes and building decentralized apps. This move supports greater participation and expands tools for developers working on the Layer 2 Ethereum network.
The update also includes guides for bridging assets from other blockchains. This feature improves network interoperability and enables smoother asset transfers. It allows developers to integrate directly with ShibaSwap V1 and V2, enabling a wider development of DeFi. Such integrations establish a more interconnected and functional ecosystem of users and developers.
New Tools and Integration Features
Developers now have access to software development kits (SDKs) and integration support for tools like Hardhat and ElderJS. Elder-Wrap and Alpha Layer are included to assist with smart contract development and custom functionality. The documentation also covers network settings such as chain ID, RPC URLs, and supported tokens.
The platform is fully compatible with Ethereum. This allows developers to work without switching tools or frameworks. The Shib Paymaster tool allows apps to cover gas fees for users. This makes dApps more accessible and lowers entry barriers. Bury 2.0, the new staking model, offers rewards for long-term token holders and supports community participation.
Increased On-Chain Activity
Shibarium has seen strong growth in transaction volume and user activity. Data shows over three million daily transactions throughout the past week. Cumulative transaction volume has now reached over 1.4 billion. The number of active user accounts continues to rise.
This rise in usage shows growing interest in the Shibarium ecosystem. Developers and users have increased engagement due to improved features and functionality. The upgrades provide a stronger base for handling higher transaction loads and supporting new applications.
Higher SHIB Token Burns Recorded
Network activity has also led to a sharp increase in SHIB token burns. Over the last week, 135 million tokens were permanently removed. This marks a 360% increase in the burn rate. In the last 24 hours, 6.3 million SHIB tokens were burned. This represents a 2,742% increase in just one day.
Despite this, SHIB’s price dropped by nearly 2% in the past 24 hours. It has declined more than 9% over the last week. The current price stands at around $0.00001360. While prices remain lower, the platform shows steady on-chain momentum with increased development and user activity.
