Bitrue Launches Staking Pool for Shiba Inu Ecosystem Tokens with up to 10% APY

Bitrue Launches Staking Pool for Shiba Inu Ecosystem Tokens with up to 10% APY

Bitrue, a Singapore-based exchange, has joined other digital assets trading platforms in offering increased support for Shiba Inu and its primary ecosystem tokens, BONE and LEASH. 

The ShibArmy community received an exciting update from Bitrue on Wednesday, stating that users would be able to stake LEASH and BONE on the popular exchange starting from July 12 at 13:00 (UTC). By staking these tokens, users can earn up to 10% APY interest in Shiba Inu.

Shortly after the previous announcement, Bitrue used Twitter to inform the Shiba Inu community that the staking pool for LEASH and BONE had officially begun. They tweeted, β€œThe staking pool is now open, invest your LEASH or BONE to earn SHIB.”

Bitrue’s latest offering of LEASH and BONE staking presents market participants with an opportunity to capitalize on the potential SHIB token rally following the anticipated mainnet launch of Shibarium. This development follows the recent introduction of the LEASH/USDT trading pair on Bitrue’s platform on July 11. 

It is worth mentioning that Bitrue had previously listed SHIB and BONE among its supported cryptocurrencies.

Related article: Whale with Over 100 Trillion Shiba Inu Moves 4 Trillion Tokens – What Does This Mean?

Bitrue Commends Shibarium

Shiba Inu community members eagerly await the mainnet launch of Shibarium, and Bitrue took the opportunity to showcase its unique design and significance in a Medium blog post published on Wednesday.Β 

In this highly praised review, the digital assets management platform applauded the project developers and the community for their transformative efforts, turning Shiba Inu from a simple meme coin into a multifaceted ecosystem offering a wide range of solutions.

According to Bitrue, Shibarium, a solution intended to enhance investor interest, is built on the delegated proof-of-stake (DPoS) consensus mechanism. Implementing this blockchain algorithm enables Shibarium to greatly enhance transaction speed, improve network throughput, and decrease costs/gas fees for users on the Shiba Inu network.

The implementation of Shibarium within the Shiba Inu ecosystem is anticipated to enhance the network’s scalability while maintaining decentralization and security, as noted by a news outlet. This highly anticipated layer-2 solution is scheduled to be released in August, with BONE serving as its gas token. 

Additionally, it has been projected that BONE will reach a value of $2 following the launch of Shibarium.

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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