Regardless of when you joined the Shiba Inu community, chances are that you have been highly anticipating the launch of Shibarium. Well, some crazy new updates were just leaked by the CEO and other developers about the layer 2 platform. And these new updates will blow your mind. This is the news that you cannot afford to miss, so make sure to keep reading.
If Shytoshi’s recent post is anything to go by, the wait for Shibarium might soon be over. A lot of people have been eager for the launch of this layer 2 platform, from Shibarmy to whales, and even project developers seeking to build something on a Shiba Inu platform. So, it doesn’t come as a shock that people are asking for hints on social media and even tagging Shytoshi on their posts to be sure that it gets his attention.
One of the questions that got Shytoshi’s attention is this: “Shytoshi Kusama, may we get some clues/hints? My brain is addicted to thinking about Shibarium.” As I just mentioned, this question got Shytoshi’s attention and he responded just a couple of hours later with an image that has the word “#SOON” boldly written on it.
So, it is not far-fetched to think that he is telling us that Shibarium will soon be launched. Once again, Shytoshi refrained from giving an exact launch date, which makes sense because there are probably still some finishing touches that need to be done which might take longer than initially anticipated. However, this is probably the first time that he is answering a question about when Shibarium will be launched with “soon”.
So, it just has to mean that the platform will be released sooner than we thought. Now, of course, there are a number of ways that “soon” can be interpreted. On the one hand, it could mean that Shibarium will be launched before the end of the year, or “soon” could just be referring to the fact that it would happen sooner than most of us think.
That said, Unification, the firm building Shibarium, announced a while back that the Shibarium public testnet would be launched in Q3 of 2022, which will end on September 30, 2022. So, we should probably be looking forward to the launch of that testnet rather than an actual launch for now, But that’s just my opinion.
Anyway, speaking of Shibarium, one of the things that are expected of the platform when it launches is that it helps burn Shib. In fact, Queenie, Shiba Inu’s Discord moderator, laid out a hypothetical estimation of how many Shib Shibarium will be able to burn.
Her calculations put the figure at about 111 trillion Shib tokens in a year. This is way more than what we are currently clocking with the Shib burn portal, so is it really possible? Well, it is difficult to say exactly. Calculations or projections are just that; there is no way to know for sure whether they are correct until what is calculated or projected actually happens. So, either possibility exists.
That said, no one from the Shiba Inu dev team has confirmed the possibility of Shibarium burning that many tokens in that timeframe. In fact, no one from the dev team has said for sure that Shibarium will burn tokens. However, this is not saying that it won’t. In fact, it most likely would be because everyone is concerned about reducing the amount of Shib tokens that are still in circulation.
And in addition to that, basically, all of the projects that have been launched into the ecosystem in recent times have an inbuilt Shib burn mechanism, including the metaverse. So, it makes sense that the most anticipated project in the ecosystem will also contribute to its quota.
That said, whether or not Shibarium will burn as many as 111 trillion Shib in a year, what should concern us is doing our bit to ensure that Shib tokens are being burnt. Right now, there are a variety of avenues by which we can burn tokens; some of them offer rewards and some of them do not even require you to let go of your hard-earned tokens. So, there has to be an avenue out there that works just right for you. Consider trying one out.
Shiba Inu Use Cases
Moving on from that, Shiba Inu is still amassing use cases for itself. And, in fact, its most recent use case could see it get greater use in the UAE. According to U Today, “the signing of a partnership agreement between Binance and UAE business services provider Virtuzone on the company’s use of Binance Pay technology has been announced.
Through Binance Pay, Vurtuzone hopes to expand its range of services offered, as well as take its business operations to the next level.” Shiba Inu is able to benefit from this because it is one of the cryptocurrencies that are part of the Binance Pay program. Shiba Inu joined the program earlier this month and is already benefiting from it in a big way.
Basically, this new partnership allows Shib to be used as a payment method in the UAE. So, if you are in the UAE, get ready to spend your Shib tokens. According to U Today, “companies using the services of a freshly minted Binance partner in the UAE will be able to use these cryptocurrencies as a payment method.
Moreover, Virtuzone works exclusively with legal entities that need complex business services, which potentially entails a large cash turnover. In addition to Virtuzone, various hotel and retail chains are already using Binance Pay in the UAE.” If you have been keeping up with Shib updates, you know that Shiba Inu just recently had a breakthrough into Argentina, and it was through the Binance Pay program as well.
So, I guess that at this point it is safe to say that Shiba Inu is taking over the world one country at a time. I can’t wait to see what country Shiba Inu makes a breakthrough into next, can you?
Elon Musk and Shytoshi Interaction
Anyway, going off on a different tangent, Elon Musk and Shytoshi just had an interesting interaction on Twitter. Musk wrote this: “On the advice of a good friend, I’ve been fasting periodically & feel healthier.” While some might think this is an out-there thing to post, it isn’t exactly out there for Musk.
Musk usually posts really out-there things on his Twitter page. In fact, this recent one is pretty tame. But that’s not where I was going with this. Shytoshi actually retweeted Musk’s tweet with a caption that reads: “Yes. This has proven useful for me as well. Intermittent fasting.” It’s been quite a while since we had this kind of Musk-Shiba Inu interaction.
So, this one definitely had to make the news. But do you agree with both Musk and Shytoshi? Is intermittent fasting something you do or are considering? Is it something that you would never consider or something that you tried and are no longer interested in? Or is it something that you, for some reason, have never heard of? Please, share your opinion with us in the comment section below.
Crypto Market News
Now, let’s take a look at what’s happening in the general crypto market. Robert Kiyosaki, the author of the book “Rich Dad, Poor Dad”, is once again vocal about his opinion on the financial market, at large.
According to him, he predicted the global financial crisis that we are currently experiencing back in 2013. And he believes that this is the right time to get richer. Here is what he wrote on Twitter: “2008 was a great time to get rich. Everything went on sale. Borrowed millions of dollars buying real estate bargains. 2013 I published Rich Dads’ prophecy predicting a BIGGER crash coming.
THAT CRASH is HERE. Millions will be wiped out. Pls, do not be one of them. The time you get richer.” Considering that Kiyosaki is considered somewhat of an authority on issues regarding the financial market, it is understandable that many are taking his words to heart.
This is especially understandable when you consider the fact that “buying the dip” is already a really common mantra. That said, it is important that you do your own research and studies the market for yourself before making any decision regarding what to do with your tokens. With that, we come to the end of this article.
Disclaimer: This article does not encourage you to buy any of the cryptocurrencies / or invest at all. This is just the opinion of an amateur, not a financial advisor. Before investing in cryptocurrency, I recommend talking to your financial advisor and doing your own research.