Shibarium, the layer 2 solution associated with Shiba Inu, has achieved a remarkable achievement in Total Value Locked (TVL), marking a major milestone in its development and adoption. According to data from DeFiLlama, Shibarium’s TVL passed $7 million as of October 1 and stands at $7.06 million.
Shiba Inu adoption is growing
“Reaching this milestone within just one year of launch underlines the robust commitment and confidence in Shibarium’s capabilities,” the Shiba Inu team wrote in their latest release. edition from SHIB magazine. The network has seen significant activity, with over 7,121,009 blocks processed and an impressive total of 418,887,296 transactions, involving nearly 1,824,394 unique wallet addresses.
These numbers not only reflect a vibrant network, but also demonstrate its increasing utility and adoption in the DeFi space. As of September 22, Shibarium’s total TVL was just $1.23 million. However, according to the latest data from DefiLlama, TVL exploded within a week to a peak of $7.19 million on September 29.
Leading TVL growth is K9 Finance DAO, a liquid betting platform that alone contributes $3.21 million to Shibarium’s TVL, marking a 3.8% increase in just 24 hours. This platform is an example of the increasing popularity of liquid staking: a feature that allows users to earn staking rewards while maintaining the liquidity of their assets.
Additionally, ShibaSwap, the leading decentralized exchange (DEX) of the Shiba Inu ecosystem, holds $2.48 million in TVL, marking a 2.74% increase from the previous day. Other smaller DEXs like WoofSwap and ChewySwap also contribute to the diversity of the ecosystem, with TVLs of $809,801 and $433,984 respectively. Marswap boasts a TVL of around $50,000 as the fourth largest DEX on Shibarium.
Shibarium’s continued growth speaks not only to numerical performance; it represents a fundamental improvement to the Shiba Inu ecosystem. “Shibarium’s rising TVL represents a tangible indicator of the platform’s growing usability and adoption. By providing a faster, cheaper, and more scalable infrastructure for Shiba Inu-based transactions, Shibarium is laying the foundation for a more robust and vibrant ecosystem. This in turn increases the usefulness and value of the Shiba Inu token itself,” concludes the Shiba Inu team.
Shibarium-based SHIB Eternity enters the next phase
In other news, the Shiba Eternity web3 beta is now live for all Shiboshi, Sheboshi, and Shiba Eternity NFT holders, according to a statement via X by Shib marketing lead Lucie. “After rigorous months of development, testing and incorporating community feedback, we are pleased to invite our dedicated keepers to experience the upgraded Shiba Eternity,” said Lucie.
The beta is now open to holders and showcases a completely revamped game that improves the visuals, gameplay mechanics and overall user experience. Among the improvements, persistent game freezes and various bugs have been fixed, providing a smoother and more enjoyable gaming experience. Additionally, the update introduces a force update feature to ensure all players have the latest version for consistent gameplay.
October also brings competitive tournaments with crypto rewards and a new in-game store with exclusive Shiba-themed items. “We’ve tailored the updates to directly reflect the needs of our community, highlighting our commitment to making Shiba Eternity a game that continually evolves with players,” Lucie added.
At the time of writing, SHIB was trading at $0.00001604.
Featured image created with DALL.E, chart from TradingView.com