New Shibarium Mainnet Transactions Suspended, $1.7 Million Currently Locked

Key Points:

• Transactions on the Shibarium mainnet are stuck in a pending state.
• There are currently more than 954 ETH, equivalent to $1.7 million, locked in a bridging contract that cannot be withdrawn.
• After months of testing with millions of users, layer-2 Shibarium has officially entered today’s mainnet phase.

The new Shibarium mainnet that was launched today is experiencing a problem causing transactions on it to be suspended. $1.7 million is currently locked on ETH.

The warning from Twitter @shroom_daddy received much attention from the community about his suspicions about the hit layer 2. This person questioned what Shibarium was doing, from RPC to how bridging works…

On-chain detective ZachXBT also commented on the comments and said that there are currently more than 954 ETH, equivalent to about $1.7 million, locked in bridging contracts that cannot be withdrawn.

For the current state of the network, users are advised to stop using Shibarium for now temporarily.

After months of testing with millions of users, the game development-oriented layer-2, and metaverse Shibarium has officially entered the mainnet phase following today’s announcement by the developers.

The network impressed when it attracted more than 21 million wallets participating in the beta testing phase. This helps it position Shiba Inu as a DeFi heavyweight by providing enhanced throughput and reduced transaction fees, even lower than Polygon (MATIC). Shibarium aims to improve the efficiency and user experience of decentralized application applications (dApps) and transactions.

It is known that Shiba Inu has been hinting about Shibarium since the third quarter of 2022, revealing more information in January 2023 and closing the beta launch schedule at a time when the cryptocurrency market witnessed the birth of a series of blockchain layers. -2 on Ethereum like Mantle, Base, Scroll, zkSync, Starknet, Polygon zkEVM, Linea,…

However, by mid-March this year, the project was accused of “copying” the code of another chain, not even changing the chainID, but had to conduct a new beta after the controversy. These reasons may have caused the launch to last until now.

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