- Shibarium Beta reached a milestone with over 140,000 NFTs minted with just 800 BONE in gas fees.
- Shiba Inu launched ShibDev and DAO to increase community engagement and developer involvement.
Shiba Inu has once again demonstrated the power and potential of its ecosystem with a major step forward in the development of Shibarium. Lucie, Marketing Lead at Shiba Inu, recently tweeted about this achievement, reporting that over 140,000 NFTs were minted during the Shibarium Beta period, while only 800 BONE was spent in gas fees.
This not only demonstrates the power of Shibarium, but also its cost-effectiveness, which is critical for any large-scale DeFi operation.
Shibarium Beta Milestone: 140,000 NFTs Minted with Only 800 BONE in Sponsored Gas Fees
We are excited to share an incredible achievement from our Shiba Eternity Beta Closed for Leash holders!
So far, these dedicated testers have minted a whopping 140,000 NFTs on Shibarium,β¦ pic.twitter.com/3sPgFMvQ7L
β πππππ (@LucieSHIB) September 6, 2024
Shibarium’s scalability and low cost empower developers and users
The fact that such a large amount of NFTs were minted at such a cheap gas cost proves this Shibariums scalability. Lucie’s statement highlights the platform’s ability to manage massive transaction volumes at low costs, making it suitable for producers and developers looking to build without excessive costs.
Shibarium’s cheap gas rates are especially crucial during this beta phase, as gas costs are fully funded, making it easier for users to join and purchase NFTs without incurring any upfront fees.
Furthermore, Shiba Inu has an impressive presence in the chain, with more than 1.4 million SHIB holders. This large user base hasn’t even fully utilized the Shibarium network yet, so as more people use the platform, the growth potential could increase even further.
This suggests that Shibarium has the potential to be a game changer in the Shiba Inu ecosystem, opening new vistas for NFT and DeFi activities.
Previously, CNF noted that the team has developed a DAO, which grants voting rights to holders and encourages additional community involvement. Another important step forward is the launch of ShibDeva platform intended to help developers from many professions.
ShibDev provides a full set of tools including API management, node access, and data feeds, all of which are essential for supporting innovation and development in the Shiba Inu ecosystem.
SHIB consumption is rising as the community focuses on reducing supply
Meanwhile, the Shibburn platform recently announced that 262,936,508 SHIB tokens were burned in the last 24 hours, marking an incredible 11,765.36% increase in burn rate.
This increase in SHIB burns demonstrates the community’s commitment to reducing circulating supply, which is a crucial factor in increasing scarcity and potentially increasing the value of the token over time.
At the time of writing, SHIB is trading around $0.00001284down 3.51% over the past 24 hours on a daily trading volume of $208.92 million.