All eyes are on the Unification xFund Twitter handle for an update on Shiba Inu’s Shibarium layer-2 network. Unification, the firm that’s developing the L2 solution revealed in a blog that Shibarium public beta testnet will be out in Q3 of 2022.
In a blog this month, they announced that Shibarium documentation is “still in plans for end of the quarter release”. However, they also added an extra sentence that read “or sometime shortly thereafter”.
Therefore, it is not known if Shiba Inu’s Shibarium public beta testnet will be released in September 2022 “or sometime shortly thereafter”. The timeline for the “shortly thereafter” is not revealed by the Shiba Inu team and Unification xFund.
Also, the public beta testnet will be released first and the complete Shibarium network will be launched later on. The documentation will allow users to take a glimpse of the L2 network and developers can gain access to it.
Developers can plan to create, build and launch products on top of the Shibarium network and start a business. The developers will slowly yet steadily give wings to Shibarium through their products making its use-case reach further prospects.
The public beta testnet phase allows users to thoroughly check the network, report bugs, and ensure the network runs free from glitches. The documentation is the testing phase only and the final network will be launched later.
We will have to wait and watch for an official confirmation from the SHIB team regarding the launch date of Shibarium documentation. We can expect it to be launched this month or as they say “sometime shortly thereafter”.
Will Shiba Inu Shoot in Price After Shibarium?
Shiba Inu token stands to benefit tremendously from Shibarium as the L2 network will lower gas fees for users. Therefore, investors can spend more on accumulating SHIB than throwing away money on high gas fees. In addition, many other products will be built on top of the network making Shibarium garner use-case in the industry.
Also, reports state that the L2 network might have an in-built ‘burn’ mechanism that would remove SHIB tokens from circulation. If that turns out to be true, Shiba Inu stands in a position to scale up sustainably in price with constant burns. All developments point towards SHIB gaining value with Shibarium and the token is now at the pinnacle of change.
At press time, Shiba Inu was trading at $0.00001097 and is down 4.3% in the 24 hours day trade. The crypto is down 87.3% from its all-time high of $0.00008616, which it reached in October last year.