Shiba Inu’s Layer-2 scaling protocol, Shibarium, is gearing up for a strategic testnet upgrade called Puppynet. Scheduled for December 15, this move aligns with the ongoing evolution of the Ethereum network, transitioning from the current Goerli testnet to the more functional Sepolia Upgrade. This upgrade signifies a significant era for Puppynet.
Significant Developments in the Shibarium Puppynet Upgrade
Shibarium’s growth is unmistakable, evidenced by a remarkable surge in total transactions, surpassing 35 million with a daily average of 7 million transactions.
The increasing user base underscores the importance of developers being well-prepared to create applications that meet the needs of this expanding audience.
In alignment with Ethereum’s departure from the Goerli testnet, Shibarium follows suit. The shift to Sepolia positions itself to offer a more stable testing environment for developers, closely mirroring the Ethereum mainnet to provide comprehensive testing capabilities.
Specifically, the Puppynet upgrade is a pivotal step, and it marks the beginning of a series of planned enhancements for Shibarium. Version upgrades are on the horizon, aiming to serve the community better and facilitate developers’ efforts.
Latest Updates on the Shibarium Burn Mechanism
Shibarium’s recent developments highlight a crucial aspect, shedding light on the Shibarium Burn Mechanism. The protocol, emphasizing innovations to strengthen long-term user value, plans to execute the burn mechanism through a “Manual Phase” and an “Automated Transition.”
Furthermore, the official deployer wallet will actively supervise the burn mechanism during the manual phase. The automation phase, set for January, will integrate predefined rules aimed at improving ecosystem transparency.
The burn rate, a critical facet of Shibarium and the broader Shiba Inu ecosystem as a deflationary project has seen a staggering increase of over 7686774.46%, resulting in the burning of 8,349,329,301 SHIB by the team.
These developments underscore Shibarium’s commitment to staying at the forefront of innovation within the Shiba Inu ecosystem, ensuring scalability, stability, and enhanced value for its growing user base.
