- Shibarium will be the central hub for all assets and applications in the Shiba Inu ecosystem.
- All assets, including NFTs, will be bridged to Shibarium.
- The ShibArmy community rejected an ETH burn proposal and secured the funds in a multisig wallet.
Shiba Inu’s marketing guru Lucie provided an overview of the Shibarium blockchain and its evolving role in the meme coin ecosystem. In a recent post, the top exec emphasized that the layer-2 protocol will serve as the central hub for all assets and applications within the SHIB ecosystem.
Reiterating a previous announcement, Lucie stated that all assets, including NFTs, will be bridged to Shibarium. She highlighted the need for a robust NFT marketplace to capitalize on this integration fully. The marketing specialist confirmed that the Metaverse and all decentralized applications (dApps) within the Shib ecosystem will also be built on Shibarium.
Addressing potential concerns about the nature of NFTs within the Shib ecosystem, Lucie clarified that while in-game NFTs may appear as digital assets within the game itself, they are ultimately backed by blockchain technology, ensuring ownership and authenticity. She explained that the underlying models for these NFTs are not stored on-chain, but the ownership and authenticity of the assets are verified through the blockchain.
Lucie’s post essentially reinforces Shibarium’s role as a cornerstone of the Shiba Inu ecosystem. By bridging various assets and applications to Shibarium, the project aims to create a more interconnected and innovative environment for Shiba Inu enthusiasts.
The other day, Shiba Inu made headlines after the community voted against burning 37.5 ETH, deciding to secure the funds in a multisig wallet controlled by trusted community members.
Shiba Inu Community Rejects ETH Burn, Prioritizes Community Control
These funds, donated by partner wallet Welly’s in 2022, are currently valued at around $69,000 and will be held until the community decides on their specific use. This decision emphasizes the community’s commitment to transparency and collective decision-making, ensuring that the funds will be used according to the DAO’s collective will.
For context, the donation was placed in a multisig wallet managed by a group known as the Defense Breed. Their role was to safeguard the funds until the ShibArmy’s DAO could decide how best to use them. However, in 2023, internal issues surfaced within the Defense Breed, leading Shytoshi Kusama to take action. Recognizing the risks, Shytoshi dissolved the Breeds to protect its community from untrustworthy elements. Fast forward to 2024, Shytoshi proposed the idea of a DAO, ensuring that the community could finally decide on how to use these funds.
