- Shibarium TVL is on a tear after the L2 solution improved transaction speed for BONE token transfers to Ethereum.
- The Shibarium bridge has improved BONE token transfer speed from seven days to around 45 minutes.
- Shibarium TVL has soared by 17% as BONE trading volume rises by 15%.
Discover how Shibarium’s latest upgrade is transforming BONE token transfers and boosting its Total Value Locked (TVL) significantly.
BONE Transfers To Happen In 45 Minutes On Shibarium Bridge
The Bone ShibaSwap token holders will be able to move their BONE holdings in a record 45 minutes. It marks a significant upscale, reflecting Shibarium’s resolve to embrace technological advancement. It also reflects a broader commitment to delivering streamlined operations and more efficiency.
Impact on BONE Token and Shibarium Ecosystem
According to the Shiba Inu development team on TheShibDaily, users had to endure a seven-day wait before their BONE tokens could move from Shibarium to Ethereum. During the week-long wait, the BONE tokens would be subjected to a lock-in period meant to elongate the length of time users would interact with the Layer 2 (L2) solution, Shibarium.
This interactive period was seen as a possible driver for the Bone ShibaSwap price. The improvement is also bullish for the Bone ShibaSwap price, marking a strategic transition from an era leveraging interaction time to influence price. Instead, the network is prioritizing user experience, network efficiency, and ecosystem stability as possible market value drivers for BONE.
Shibarium and the Shiba ecosystem technology and marketing specialist, Lucie Sasnikova revealed the improvement in a post on X (formerly Twitter).
Conclusion
Henceforth, ecosystem participants would enjoy more seamless processes for the convenience of community members and network inhabitants. The dominance of the Shibarium L2 is also primed to benefit from this upscale among Decentralized Finance (DeFi) protocols. Data according to DefiLlama shows that the Total Value Locked (TVL) of Shibarium has soared by 17% in five days, from $2.11 million on May 24 to $2.47 million at press time.
