Unification Foundation, the team working on the development of the most waited tool of the Shiba Inu ecosystem, Shibarium hinted at its date of launch.
New tool to deploy in Q3
According to the blog, Shibarium Private Alpha TestNet was launched among the team of developers. Unification mentioned that it was done in order to provide necessary support tools before the public Beta TestNet issuance. It added that the tool was successfully running for a number of weeks.
The release added that the most awaited tool is improving as it is built on the battle tested and robust technology with xFUND. It mentioned that it is based on the Oracle of Oracles (OoO). It will play an important role in the terms of network and AMM.
As per the release, the Shibarium Public Beta TestNet is scheduled to launch around the 3rd quarter of this year. It highlights that FUND TestNet upgrade will be coinciding with it. This update will include the much awaited IBC/Gravity/wFUND updates. However, it will allow the dealing parties to interact with the network.
Unification highlighted that the validator community is already on the elements of the launch and upgrade.
Shiba Inu prices jump by 7%
Since the announcement, the Shiba Inu prices have jumped by over 7%. SHIB is trading at an average price of $0.000011, at the press time. Its 24 hour trading volume has surged by 10% to stand at $804 million. However, SHIB is still the second largest meme cryptocurrency with a market cap of around $6 billion.
The tool under development will allow the user to do the transfers between L1 and L2 asset transfers. Meanwhile, this process will also give birth to the wFUND.
It is being reported that the Shiba Inu has added over 1,064 new holders in the Shibarmy. After this addition, the total number now stands at 1,989,215 strong. Meanwhile, the SHIB holders have sent around more than 80 million of the Shiba Inu tokens to a dead wallet.