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Shibarium Shiba Inu

Shiba Inu Devs Unveil Key New Shibarium Feature

Jake Simmons
by Jake Simmons
1 year ago
·
Posted in Shiba Inu
Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

In an effort to bolster the Shiba Inu ecosystem, the Shibarium developers have announced the introduction of a new feature focused on enhancing community engagement and support for the network’s validators. The development team behind Shibarium announced the introduction of the “Donate” feature yesterday.

Shibarium’s New Donate Feature

This feature marks a significant step in the network’s journey towards creating a more inclusive and robust ecosystem. Ragnar Shib, a prominent member of the Shiba Inu community, known for his role as a Telegram group admin and community manager, heralded this update in a statement on X, saying, “New updates in Shibarium’s official website. Let’s go!!! And check our latest announcements and FAQ.”

The core of this new functionality lies in empowering the Shibarium community to contribute directly to non-profit validators, who are instrumental in maintaining the network’s efficiency and security. According to the official Shibarium website, “This feature allows our user community to contribute financially to non-profit validators who are crucial in maintaining the efficiency and security of the Shibarium network.”

Related Reading: Shiba Inu Shibarium Network Listed As Top 5 Active Network By Node Operator

The process of donating is made user-friendly and straightforward. Users can navigate to the information page of their chosen validator from a comprehensive list, select the “Donate” button, and specify the token and amount they wish to contribute.

This initiative is a strategic move by the Shibarium team to enhance the network’s resilience by supporting validators. Validators are central to the blockchain’s operation, responsible for verifying transactions and maintaining the ledger’s integrity. They are compensated with rewards, proportional to their stake, shared among all participants.

As of now, Shibarium operates with 12 validators. The top five validators, based on the staked amount, are ShibArmy America with 5.18 million BONE, Unification with 4.91 million BONE, ShibArmy Europe with 2.99 million BONE, Ryoshi Labs with 1.77 million BONE, and ShibArmy Asia with 1.57 million BONE.

The number of validator slots is limited to 100, with each validator required to stake a minimum of 10,000 units of BONE. Currently, 21,488,549 BONE, worth $13.6 million are staked on Shibarium.

Related Reading: Shiba Inu Burn Activity Sees Impressive 90.5% Spike After Week Of Slow Performance

The introduction of the “Donate” feature is a reflection of Shibarium’s commitment to fostering a supportive and sustainable environment for its validators and users alike. This move is anticipated to positively impact the overall integrity and functionality of the Shibarium network.

Alongside this feature, the team has also unveiled a new FAQ page on the Shibarium application, aiming to provide clear, accessible, and immediate information for application-related inquiries.

Shiba Inu Price

At press time, the Shiba Inu price was trading at a critical level. For the fourth time in 16 months, the SHIB price was rejected at the descending trend line (blue line) of the falling triangle in the 1-week chart. At the end of the week, SHIB fell below the 0.236 Fibonacci retracement level again. If the trend line is not retested this week, a renewed plunge towards the neckline at $0.00000715 could be looming.

Shiba Inu price
SHIB is rejected at the trend line, 1-week chart | Source: SHIBUSD on TradingView.com
Featured image from CryptoRank, chart from TradingView.com
Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.
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Jake Simmons

Jake Simmons

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Jake Simmons has been a Bitcoin enthusiast since 2016. Ever since he heard about Bitcoin, he has been studying the topic every day and trying to share his knowledge with others. His goal is to contribute to Bitcoin's financial revolution, which will replace the fiat money system. Besides BTC and crypto, Jake studied Business Informatics at a university. After graduation in 2017, he has been working in the blockchain and crypto sector. You can follow Jake on Twitter at @realJakeSimmons.

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