Shibarium Beta Milestone: 140K NFTs Minted with Just 800 BONE in Sponsored Gas Fees

We're excited to share an incredible achievement from our Shiba Eternity Beta Closed for Leash holders! So far, these dedicated testers have minted a staggering 140,000 NFTs on Shibarium

Shibarium has reached a new milestone with closed beta participants of Shiba Eternity minting 140,000 NFTs, showcasing the platform's efficiency. Despite the massive volume of transactions, only 800 BONE tokens were utilized for gas fees, highlighting Shibarium's cost-effectiveness.

This achievement also demonstrates the platform's capability in handling large-scale NFT projects. As a crucial component of the vast Shiba Inu ecosystem, Shibarium's success bodes well for the entire network. With over 1.4 million SHIB holders on-chain, the potential for further boosting user activity is substantial.

Shibarium, designed to process thousands of transactions per second at a low cost, envisions handling high-volume NFT projects with ease. This aligns with the needs of creators and developers seeking to launch large-scale NFT initiatives.

Shibarium Beta Milestone: 140K NFTs Minted with Just 800 BONE in Sponsored Gas Fees

We’re excited to share an incredible achievement from our Shiba Eternity Beta Closed for Leash holders!

So far, these dedicated testers have minted a staggering 140,000 NFTs on Shibarium, kicking off the launch of the SHI layer-2 with a bang.

These testers, who were granted early access to Shibarium, have played a pivotal role in testing the platform's capabilities and providing feedback to the development team.

BONE's Role in Shibarium's Operations

BONE serves as the primary gas token for all processes on the Shibarium platform, including the Shibaswap token. BONE is utilized in all the gas fees required on the platform, whether for transactions or system upgrades.

This ensures that BONE will always remain a central component in the Shibarium ecosystem and will support all current and future projects.

Another key feature of Shibarium is the SHIB burn, which occurs automatically whenever there is a BONE transaction. A portion of the gas fees paid in BONE is exchanged for SHIB tokens, which are then burned.

This burning process reduces the number of SHIB in circulation, creating scarcity and increasing the value of SHIB. Hence, Shibarium's gas fee system assists the ecosystem by reducing the supply of SHIB.

Cost-Effective NFT Minting Process

The creation of 140,000 NFTs in the first Shiba Eternity beta test suggests Shibarium's ability to support large NFT projects. Yet, it only took 800 BONE tokens, which is approximately $310, to cover gas fees for over 20,000 transactions.

This low-cost structure helps many creators to develop their NFTs since they are protected from high first costs.

Also, gas fees which were relatively high during the beta phase have been funded, meaning that access to the platforms was made even effortless for users. While the identity of fees is unknown, this act in a way contributed to smoothening the process of minting.

Shibarium's high scalability and low gas fees will suit NFT creators who wish to design projects on a large scale.

Prospects for Shibarium and the SHIB Ecosystem

Shibarium's rise and mass usage, especially in the NFT sector, shows that the platform has the potential to drastically change DeFi. With 1.4 million Shiba Inu holders who have not fully interacted with Shibarium, the user base is set to grow.

This continuous expansion will likely result in an increased demand for BONE and further enhance its place in the ecosystem. As more users enter Shibarium the viability of the platform in terms of its ability to handle high transaction volume cheaply will be evident.

However, the current results from the Shiba Eternity beta suggest that Shibarium is well-equipped to handle high levels of usage. This has been affirmed by the fact that the ecosystem has been made cost-efficient when it comes to operations, especially in the creation of NFTs. Hence it is a great contender in DeFi.

Shibarium stands out among other layer-2 solutions due to its scalability, low fees, and integration with SHIB. The active engagement of the SHIB community and the central role of BONE in its functioning will help the service prosper in the future.

The above is the detailed content of Shibarium Beta Milestone: 140K NFTs Minted with Just 800 BONE in Sponsored Gas Fees. For more information, please follow other related articles on the PHP Chinese website!