Shytoshi Kusama announced the beta test of the Shibarium network, layer 2 of the Shiba Inu crypto meme. The new network dedicated to the metaverse has been named PUPPYNET.
The beta test launch of Shibarium: layer 2 of the crypto Shiba Inu
Over the weekend, Shytoshi Kusama, the developer behind Shibarium announced the beta test launch of layer 2 dedicated to the Shiba Inu crypto meme metaverse. The new network has been named PUPPYNET.
Introducing the Shibarium Early Public Beta! Find out about it, see the #shibthemetaverse WAGMI Temple area, and a a stop to the Ryoshi FUD here in this blog post. https://t.co/Dr3tAGl9PG
— Shytoshi Kusama™ (@ShytoshiKusama) March 11, 2023
In practice, Kusama pointed out that Shibarium is a Level 2 blockchain that allows anyone to build dApps, integrate into real businesses and power projects with it. It is low-cost, burns Shib in the process and is being adapted as beta testing continues in the coming months.
While links to access the test are shared in the blog post, Kusama highlights some key points that new developers in the Shibarium ecosystem will need to keep in mind. Here they are:
- Shib burns will depend on the txn in the network. To keep track of them, there will be a graph of Shib burns on the burns portal. This is part of the beta testing of the Shibarium network.
- All the tokens on PUPPYNET are not real. Don’t spend your hard-earned SHIBS on these tokens if you see them, no matter how much people, anyone, shield.
In addition, Kusama adds recommendations from DYOR (Do Your Own Research), so that users may not get confused and fall into projects that have nothing to do with the Shibarium ecosystem but pass themselves off as such.
WAGMI TEMPLE’s experience at SXSW 2023 and the end of FUD on Ryoshi
During SXSW 2023 in Austin, Texas, you can find the Shib Metaverse booth and experience Wagmi Temple.
This is the unveiling of the new metaverse at the 2023 SXSW music and film festival, which will allow attendees to experience a virtual reality tour of Temple WAGMI, one of 11 hubs showcasing SHIB’s history.
We are building immersive experiences that will allow users to explore, benefit, and interact with a Shiba Inu Universe like no other. https://t.co/8nFV1VmAzH@marciejastrow @sherricuono @brandiekono @scorchia_moon @ShibTheMV @TheThirdFloor pic.twitter.com/9qbpusYt8L
— Shib (@Shibtoken) March 11, 2023
Also in her blog post, Kusama then wanted to put an end to the FUD that has been created around the fact that Ryoshi, the founder of Shiba Inu, may be Sam Bankman-Fried.
And in fact, last week, Coinbase’s director Conor Grogan had circulated the news of his connections to find out who was behind Ryoshi’s alias. Grogan discovered that the name “Alameda” on OpenSea is associated with the address of SHIB’s creator. Some would have thought, therefore, that Ryoshi was directly Sam Bankman-Fried.
In this regard, here is what Kusama says:
“The biggest fud and fudder goes to a dude making a competing product trying to convince you that SBF is Ryoshi. Now that the team, and everyone that ever saw Ryoshi post is done laughing, let’s give two pieces of meme evidence that this is not the case. [..] More importantly, Ryoshi, as seen in his posts, was NOT a fan of Centralized Exchanges (CEX) and would NEVER have run one himself. Do better fudders, do better.”
The price of crypto Shiba Inu
At the time of writing, Shiba Inu is trading at a price of $0.00001086, having experienced a small pump in the past 24 hours.
The 15th crypto by market capitalization, it seems to be following the general price trend of major cryptocurrencies without too much upheaval, despite the weekend news.
And indeed, Ethereum (ETH) has also registered +8% in the past 24 hours, with the price rising from $1479 to the current $1602.
With $5.95 billion total market capitalization, SHIB has a dominant position in the crypto market of 0.58 percent.