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Ethereum Layer2 Shibarium goes live, featuring 10 noteworthy ecosystem projects.

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Project updates.

Original Title: "10 Shibarium Projects Worth Paying Attention to on the Mainnet"

Source: Odaily Star Daily

On August 17th, Shiba Inu developers announced at the Blockchain Futurist Conference that their Ethereum-based L2 scaling solution, Shibarium, has gone live on the mainnet, with a focus on deploying and developing metaverse and gaming applications.

It is reported that Shibarium network uses BONE as its underlying token, which is used to pay for gas fees and rewards. Users must lock 10,000 BONE in the Shibarium network to become validators. According to official data, Shibarium's testnet PUPPYNET was launched in March this year and has attracted millions of active users in the past five months, with over 21 million created addresses.

From the official announcement of developing a new chain in December 2021 to the continuous delay of the mainnet for the past two years, Shibarium finally went online successfully. However, the network experienced two malfunctions after going online yesterday, with the longest stoppage time of up to 8 hours. According to Shibariumscan data, the mainnet's block production has now returned to normal, with a total of over 1000 addresses online in the past two days, reaching 1083, and a total of 204742 blocks produced, with only 252 transactions.

The launch of Shibarium seems to declare to the cryptocurrency market that MeMe coins can also be productive and develop an ecosystem. According to a tweet from "KURO," a moderator of the Shibarium technical community, hundreds of cryptocurrency companies or development teams have already joined the Shibarium world or used the network to build DApps. See below:

Reference Arbitrum and BASE. In the early stages of each new ecosystem, there are hidden opportunities for wealth. Odaily Star Daily has collected and organized information on 10 ecological projects worth paying attention to on the Shibarium network.

It should be noted that after the launch of Shibarium, some projects claimed to deploy on Shibarium by riding the hot trend, but in reality, they only registered on Twitter and posted tweets, and some even do not have an official website. The risk factor is relatively high, so caution is advised. In addition, some projects' smart contracts have not yet been audited, and they do not have many users or trading volume, so beware of rug.

Project Name: ShibaSwap

Website: https://shibaswap.com/

Introduction: Shiba Inu's chief developer, Shytoshi, has stated that ShibaSwap is the only official decentralized exchange (DEX) in the Shibarium ecosystem. ShibaSwap is powered by three tokens: Shiba Inu (SHIB), Bone ShibaSwap (BONE), and Doge Killer (LEASH).

ShibaSwap mainly provides six functions: (1) trading, exchanging tokens for other tokens; (2) DIG, providing liquidity (SSLP) for tokens to earn BONE rewards; (3) BURY, staking SHIB, BONE, and LEASH to earn profits; (4) WOOF, staking SSLP to earn token rewards; (5) DOGGY DAO, using tBONE for voting and governance; (6) NFT, buying and selling NFTs.

Shibaswap is the soul and connector of the Shiba ecosystem, and the BONE token is also used as the native token on the Shibarium network. Currently, ShibaSwap's TVL is $20.65 million, and its smart contract has been audited by Certik.

Project Name: Ball Exchange

Website: https://ball.exchange/

Introduction: Ball Exchange is a decentralized exchange that uses the AMM (Automated Market Maker) model, aimed at supporting the Shibarium ecosystem. Its goal is to create a trusted platform that allows users to exchange native Shibarium tokens in a truly decentralized way, without intermediaries or single points of failure. According to official website data, Ball Exchange's TVL is $127,000 and total trading volume is $5.4 million.

Ball Exchange provides the following functions: (1) Swapping/Trading, peer-to-peer token trading; (2) Liquidity Pools, providing liquidity trading fees; (3) Yield Farming, locking LP tokens can earn platform token BALL rewards - according to the white paper, 70.3% of the tokens will be used for Yield Farming; (4) IFO, limited-time discounted purchase of new coins.

Project Name: Shibarium Cross-Chain Bridge

Introduction: A cross-chain bridge from Shibarium Network's official website, currently only supports transfers from Ethereum to Shibarium, with a limit of 100 BONE (120 USD) per transaction. The gas fee for a single transaction is 20 to 30 USD, and the waiting time is 20 to 30 minutes. It is recommended to wait for the Ethereum network gas fee to decrease before making a cross-chain transfer.

According to previous community disclosures, Chief Developer Shytoshi Kusama stated that assets bridged to the Shibarium network cannot be recovered and cannot be cross-linked back temporarily. However, the Shibarium team stated that they are developing an update plan and the funds trapped in the cross-chain bridge are safe. Currently, the official cross-chain bridge TVL is 1.7 million US dollars.

Project Name: Barkbridge

Website: https://barkbridge.io/

Introduction: Barkbridge is another cross-chain bridge on the Shibarium network, unofficial, and previously participated in the PUPPYNET test network. Users can stake the platform token BARK to receive discounts when crossing chains; providing liquidity to the cross-chain bridge can earn profits; a 5% transaction fee is charged when buying and selling token BARK. However, Barkbridge has not yet opened the Shibarium mainnet cross-chain bridge.

Project Name: Shibarium Name Service

Website: https://dogtag.id/

Introduction: Shibarium Name Service is a Shibarium network domain name service provider. Users can register .inu domain names on the platform, which can be used to receive cryptocurrencies, NFTs, and other content in the Shibarium Metaverse. It should be noted that registering a domain name requires the use of the platform's token SNS, which is priced at 5.49 million (approximately $25). In the future, a chat application will also be developed for domain name holders to communicate directly. According to official sources, Shibarium Name Service has acquired cross-chain bridge Barkbridge, but the amount is unknown.

Project Name: DogPadFinance

Website: https://www.dogpad.finance/

Introduction: DogPad is a utility ecosystem for launching and creating new tokens on the Shibarium chain. Specifically, its ecosystem includes the following parts: (1) Launchpad, which can help projects raise funds; (2) Staking, where users can stake DOGPAD tokens to earn rewards; (3) Cross-chain bridge, which is not yet open; (4) LP Farm, where users can add LP on Uniswap and earn LP tokens, stake them to earn DOGPAD rewards; (5) Locker, where users can lock liquidity tokens by paying BONE tokens; (6) NFT, where holding platform genesis NFT can earn corresponding rewards; (7) Telegram Bot Deployer, which allows for contract deployment through a Telegram bot without the need for coding knowledge.

DogPad token liquidity has been completely burned and ownership has been abandoned. The initial buyback conducted at launch has a 13.5% ownership lockup, which will be used to reward the community during the migration to Shibarium phase. $DOGPAD transactions also incur a 3% tax, with 1% going towards increasing our liquidity pool and 2% allocated for marketing and development.

Project Name: ShibariumPad

Website: https://shibariumpad.finance/

Introduction: ShibariumPad is a launchpad based on Ethereum and Shibarium, mainly used for fundraising projects.

In order to submit a fundraising application for the project, it is necessary to hold a certain amount of platform token $SHIBP according to the grading system. The official stated that the project will be strictly reviewed. As of now, the platform has no other project cooperation cases except for fundraising for its own token SHIBP (February 2023).

Regarding tokens, 70% of the total supply of SHIBP was burned during issuance, while 20% was allocated for liquidity and 10% for staking rewards. The official team has announced that ShibariumPad is currently developing a V2 version and plans to expand its presence within the Shibarium ecosystem. Additional features such as token staking will also be launched in due course.

Project Name: Serp Finance

Website: https://serp.finance/

Introduction: Serp Finance is a perpetual contract platform based on Shibarium. It has participated in the test network PUPPYNET and supports up to 50 times leverage. All traders conduct transactions based on the SERP liquidity pool (VENOM).

VENOM is a collection of blue-chip assets and stablecoins that serves as an AMM for leveraged trading. Liquidity providers can deposit any whitelisted assets into the VENOM pool in exchange for VENOM tokens, which represent LP shares in the diversified liquidity pool. This multi-asset VENOM pool supports trading and generates fees for liquidity providers through market-making, swap fees, and leveraged trading.

Project Name: CallOfShib

Website: https://callofshib.com/

Introduction: CallOfShib is a P2E blockchain game based on Shibarium, where players can earn token rewards. Call Of Shib has a ranking system that allows players to climb the leaderboard by winning more battles. The higher the level, the better the rewards, and players can receive cryptocurrency rewards when they reach a certain level. The ranking system also adds a competitive advantage to the game, encouraging players to strive for higher rankings.

The game offers different modes, including: Deathmatch, where players fight against each other and the player with the most kills at the end of the round wins; Elimination, where two teams must kill all members of the opposing team (players can only respawn at the end of the round) to win, and the team that reaches the maximum number of rounds will be the winner of the game. Dead players can watch their surviving teammates.

Project Name: Shibot

Website: https://www.shibot.co/

Introduction: Shibot is a trading bot launched on Shibarium, seamlessly integrating traditional trading practices with the dynamic features of Telegram bots, aiming to improve the trading experience. With Shibot, users can easily and quickly complete transactions by simply entering the contract address. In addition, Shibot provides a powerful set of after-sales tools to support traders, helping them implement strategic measures, ensure profits, and deal with complex liquidity issues.