Recently, there have been significant developments for one of the largest meme coins, Shiba Inu (SHIB), and the four major coins. A few projects shared their partnership announcement while SHIB made a big launch announcement. Here are the details…
Before SHIB development: It was decided not to reissue STG tokens
Before moving on to the important launch in the SHIB ecosystem, it is worth noting that Stargate Finance (STG) has left an important vote behind. cryptocoin.com As we have also reported, according to various announcements made this week, Bitfinex and Binance; Withdraws technical support for Stargate Finance’s plans to reissue STG tokens. They will now promote the use of the protocol’s original STG tokens.
According to a recent community recommendation, crypto exchanges’ decision to remove support for new STG tokens follows Stargate’s decentralized autonomous organization (DAO) proposal to put the brakes on its new token issuance plan on Tuesday. According to data from Etherscan, at the time of this decision, Stargate Finance had already started issuing new STG tokens. This is an issue that exchanges now have to deal with to eliminate the security risks to STG token holders.
Initially, it was requested to reprint because of the risk of “illegitimate STG transfers from compromised Alameda wallets,” where roughly 10 percent of STG tokens are held. However, the DAO did point to recent statements by the liquidators of Alameda’s sister company, FTX, that it will halt transactions in the Alameda wallet. Therefore, it was decided to continue using the original token.
Mantle receives 200 million funding from BitDAO
On the other hand, Mantle Network, one of the leading Optimistic Rollup solution providers in the crypto world, has recently received a massive increase in funding and support from BitDAO, one of the best funded and respected DAOs in the space. This news was announced via a tweet where they summarized the exciting developments going on on the Mantle Network. The rise of Optimistic Rollups has been one of the most important developments in recent years. Optimistic Rollups is a layer 2 scaling solution that allows faster and cheaper transactions on the Ethereum network without sacrificing security or decentralization. Mantle also stands out in this respect.
2/10 Mantle Network is backed by @BitDAO_Official, one of the DAOs with the largest treasury in the crypto pic.twitter.com/nNbDEGicj0
— MantleMind (@0xMantleMind) March 15, 2023
BitDAO, which owns one of the crypto world’s greatest treasures, has supported Mantle Network with a strong commitment to the project, according to the tweet. This commitment was demonstrated by the recent acceptance of the BIP-19 proposal, which allocates significant funds to Mantle Network for next year. BIP-19 demonstrates $10M BIT and $14M USDC support for Testnet Opex. For Mainnet Opex, 145 million dollars of BIT and 34 million dollars of USDC are given.
SHIB announces launch of metaverse on Shibarium network
Shiba Inu has announced that its new metaverse is being developed on top of the highly anticipated Ethereum Layer 2 Blockchain, Shibarium. This announcement marks an important milestone in the evolution of the Shiba Inu. Dubbed SHIB: The Metaverse, the metaverse will allow users to discover, create, trade, sell and buy items and live in a new world that rewards participation with a variety of opportunities and experiences. The announcement was made by Shiba Inu’s Lead Developer Shytoshi Kusama.
The demo version of SHIB The Metaverse was fully showcased at the SXSW event from March 13-15. The ecosystem showcased its capabilities through WAGMI Hub, the first of 11 hubs in SHIB The Metaverse. Metaverse is focused on consolidating the metaverse landscape, which is now spread across multiple worlds that are mostly isolated from each other. Through Shibarium, SHIB The Metaverse is designed to enable users to build businesses, move real-life businesses to the metaverse, build structures, homes, and even indoor DeFi platforms.
Aragon partners with the Ukrainian government
Aragon, a Blockchain platform for creating decentralized autonomous organizations (DAOs), has announced its partnership with Ukraine’s Ministry of Digital Transformation to launch a course that will teach Ukrainians how to create and manage DAOs. The course will be delivered through Diia, the national governance app used by more than half of Ukraine’s adult population. The aim of the course is to equip Ukrainians with everything they need to know to start a DAO, regardless of previous knowledge. Aragon already supported the Unchain Fund and Ukraine DAO, both of which provide assistance to Ukrainians, and is now expanding access to web3 education to empower Ukrainian citizens.
Staked ETHs withdrawn on Ethereum Goerli testnet
The final “rehearsal” of Ethereum’s Shanghai update took place on the Goerli testnet (testnet) on Tuesday. The test simulated staked Ethereum (ETH) withdrawals, bringing the much-anticipated upgrade closer to its final step. There was a 29 percent validator participation rate in the simulation, which is particularly low for Ethereum. The Shanghai upgrade will finally mark the full transition of Ethereum to the stake-of-stake (PoS) network by allowing validators to withdraw their staked ETH and rewards earned. These funds have been locked since December 2020, when Ethereum’s PoS Beacon Chain went live. Testnets are used as a testing ground to emulate Blockchain, allowing developers to fix any bugs before any upgrades are made to the mainnet.
