Shiba Inu project lead Shytoshi Kusama has touted Shibarium’s role in the ecosystem and the fact the Shiba project will own it as reasons for its importance.
Answering a question proposed to Shiba Growth Breed member Gossip SHIB, who then shared it with Shytoshi, Shytoshi described the combination of all the projects on the Shiba roadmap as “revolutionary”.
Here’s a look at why.
Why Shibarium Is So Important For SHIB
After Twitter user Esai Herrara asked two questions to Gossip SHIB, including one that questioned how groundbreaking Shibarium could be if it remains an L2 on the Ethereum blockchain, the Growth member took the questions to Shytoshi.
Responding in a message, he said:
Ultimately, what makes Shibarium so simple is that it reduces costs to near zero, and it is ours.
Breaking this down, we know that many Shiboshi holders were particularly harmed by gas fees when minting their NFTs. With SHIB utility coming as payments for products such as Welly’s fast food, lower gas fees are deemed essential here.
Shibarium will likely bundle up Shiba transactions and send them to the Ethereum blockchain as a sole transaction. This should help reduce the fees for users.
The second part of his statement relates to the ownership of Shibarium. Shibarium is an L2 developed by Shiba devs alongside xFund, who said that a public Shibarium test is coming soon. This means the product will be owned by the Shiba project.
This gives them full control over features, usage, and much more. However, the Doggy DAO could eventually gain this control depending on its future rollout. Through this, integration with other aspects of the Shiba ecosystem - whether the metaverse, ShibaNet, or Welly’s - could be much easier.
Indeed, it is this integration that Shytoshi then stressed as the real value of Shibarium. He said:
It is the combination of Shibarium, Metaverse, ShibaSwap and all the other pieces of our ecosystem that help to burn SHIB and bring value to all the tokens in our ecosystem that is truly revolutionary. In other words, you’re looking at a Big Mac asking what’s so revolutionary about a sesame seed bun.
Some confusion remains among SHIB holders over what Shibarium means for their tokens and where they will exist. As Shiba mod Queenie reaffirmed during the latest Shiba Inu AMA, SHIB is an ERC-20 token, and will not be moved fully off the Ethereum blockchain.