Tech

Shiba Inu Leader Breaks Silence, Commends Shibarium Projects, Highlights SHIB Burns

10/23/2023
Bitcoin Ethereum News

Shytoshi Kusama, the pseudonymous lead developer of the Shiba Inu ecosystem, has encouraged Shiba Inu-themed developers.

In particular, the Shiba Inu leader openly acknowledged the efforts of builders on the Shibarium blockchain. Kusama made the commendation in a recent statement in the Shibarium Telegram group. “Excited to see all the incredible projects on,” Kusama remarked.

Notably, Kusama mentioned that he had been reserved regarding the struggles of the teams developing worthwhile projects using Shibarium. However, he has broken free from the silent mode to recognize their endeavors. “Finally, get to come out of quiet mode for all the amazing projects out there,” the Shiba Inu leader noted.

Lucie, the Shiba Inu content specialist, shared a screenshot of Kusama’s statement on the X platform with the Shiba Inu community.

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Besides, Lucie reinforced the appreciative stance of the Shiba Inu development team on Shibarium-based projects. She noted that while it may appear the team turns blind eyes at projects building on Shibarium, it does not represent reality.  

“Truth be told, we’ve got our eyes glued to every Shibarium project,” Lucie proclaimed. The Shiba Inu representative emphasized that the team recognizes all the Shibarium projects and is delighted to have them. In her words:

“We’re eagerly watching the developments, innovations, and incredible work being done. Keep up the great work, Shibarium gang! ”

Projects on Shibarium

According to data from Defillama, the leading DeFi total value locked (TVL) aggregator, at least 11 decentralized exchanges and two Farm protocols exist on Shibarium. As of August 30, The Crypto Basic reported five DEXs and one Farm protocol. Therefore, the Shibarium DEX numbers have increased by at least 50% in under two months of the Shibarium relaunch.

The DEXs include MARSWAP, ChewySwap, DogSwap, PunkSwap, WoofSwap, Shibex, Ball Exchange, LeetSwap, Woof Finance, Dalmatian, ComfySwap, and BoneDex. On the other hand, ChocoInu and ShibFi represent the two ranked Shibarium Farm protocols. Jointly, these projects command a TVL of $693,401.

More Usage Means More SHIB Burns

Amid Kusama’s commendation of builders on Shibarium, a SHIB Army complained about the declining volume of SHIB burn. Kusama reiterated that Shibarium cannot independently burn Shiba Inu tokens. Specifically, he noted that more usage of Shibarium drives utility, leading to more SHIB burns.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.

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Source: https://thecryptobasic.com/2023/10/23/shiba-inu-leader-breaks-silence-commends-shibarium-projects-highlights-shib-burns/?utm_source=rss&utm_medium=rss&utm_campaign=shiba-inu-leader-breaks-silence-commends-shibarium-projects-highlights-shib-burns