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Blockchain

Shibarium Reopened Withdrawal For Cross-chain Bridge On Mainnet

August 28, 2023 - Around 2 mins mins to read

Key Points:

  • The developer of Shibarium has reopened withdrawals on the bridge to Ethereum.
  • This layer 2 was originally launched on August 16 but was soon halted due to the need to scale further.
  • By design, withdrawal of Shib, Leash, WEth across the bridge takes at least 2 Checkpoints (45 minutes to 3 hours), and BONE withdrawal will take up to 7 days.
The developers of layer 2 Shibarium said that withdrawals on its cross-banana bridge have resumed after a temporary shutdown due to overload.
Shibarium Reopened Withdrawal For Cross-chain Bridge On Mainnet

The move comes after the team temporarily suspended both the Shibarium mainnet and the bridge recently, citing scalability issues and locking down millions of dollars in user funds effectively.

Its mainnet was originally launched on August 16 but was quickly halted. The team attributed the halt to the “huge flow of transactions” and assured users they would regain full access to their funds once the mainnet was back up.

Shibarium has accumulated over 65,000 wallets and 350,000 transactions, Shiba Inu lead developer Shytoshi Kusama revealed in a blog. Explorer Shibariumscan.io shows that the Shibarium mainnet has been producing blocks since August 24.

“So far, before this announcement, we have accumulated over 65,000 wallets and 350,000 transactions. We’ve see a variety of fun, unusual, and sometimes offensive tokens deployed on Shibarium alongside a variety of platforms. Within these thousands of tokens, we will see which will rise to the top.”

By design, withdrawal of Shib, Leash, WEth across the bridge takes at least 2 Checkpoints (45 minutes to 3 hours), and BONE withdrawal will take up to 7 days. These are working assertions, as seen below.

Shibarium is a layer 2 blockchain developed by the creators of the memecoin Shiba Inu to facilitate the transfer of tokens to Ethereum.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Blockchain

Shibarium Reopened Withdrawal For Cross-chain Bridge On Mainnet

Key Points:

  • The developer of Shibarium has reopened withdrawals on the bridge to Ethereum.
  • This layer 2 was originally launched on August 16 but was soon halted due to the need to scale further.
  • By design, withdrawal of Shib, Leash, WEth across the bridge takes at least 2 Checkpoints (45 minutes to 3 hours), and BONE withdrawal will take up to 7 days.
The developers of layer 2 Shibarium said that withdrawals on its cross-banana bridge have resumed after a temporary shutdown due to overload.
Shibarium Reopened Withdrawal For Cross-chain Bridge On Mainnet

The move comes after the team temporarily suspended both the Shibarium mainnet and the bridge recently, citing scalability issues and locking down millions of dollars in user funds effectively.

Its mainnet was originally launched on August 16 but was quickly halted. The team attributed the halt to the “huge flow of transactions” and assured users they would regain full access to their funds once the mainnet was back up.

Shibarium has accumulated over 65,000 wallets and 350,000 transactions, Shiba Inu lead developer Shytoshi Kusama revealed in a blog. Explorer Shibariumscan.io shows that the Shibarium mainnet has been producing blocks since August 24.

“So far, before this announcement, we have accumulated over 65,000 wallets and 350,000 transactions. We’ve see a variety of fun, unusual, and sometimes offensive tokens deployed on Shibarium alongside a variety of platforms. Within these thousands of tokens, we will see which will rise to the top.”

By design, withdrawal of Shib, Leash, WEth across the bridge takes at least 2 Checkpoints (45 minutes to 3 hours), and BONE withdrawal will take up to 7 days. These are working assertions, as seen below.

Shibarium is a layer 2 blockchain developed by the creators of the memecoin Shiba Inu to facilitate the transfer of tokens to Ethereum.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.