The Shiba Inu (SHIB) ecosystem registered a hive of new activity Thursday following the mainnet launch of the highly anticipated Shibarium layer two (L2) scaling solution. However, the Shibarmy had a rough time after the first reports of lost funds deposited through the Shibarium Bridge.
In particular, a screenshot circulating the internet showed a text that Kusama supposedly wrote stating that the bridged Ethers worth more than $23 million have been completely lost
In an effort to clear the air, the Shiba Inu team led by core developer Shytoshi Kusama has called the allegations FUD.
Current status of Shiba Inu’s Shibarium L2 network
According to a message to the Shibarmy from Kusama, the technical problems recorded after the launch of the Shibarium L2 network were due to a large influx of transactions and users.
“According to the business plan we have with Alchemy, we are allocated 400 million units of account per MONTH. At launch, we had over 160 million compute units in about 30 minutes,” Kusama noted.
Meanwhile, the Shiba Inu developer team is ostensibly working on scaling up the Shibarium network to handle a higher bandwidth of transactions and users.
Notably, the Shibarmy has continued to deposit more bot on the Shibarium network to facilitate staking, despite the initial FUD on lost assets.
Market outlook
Since the launch of the Shibarium network, the price of Shiba Inu had fallen about 8 percent to trade at about $0.00000889 at the time of reporting. Similarly, Bone ShibaSwap (BONE) experienced a bearish outlook dropping 12.8 percent to trade at around $1.30.