TL;DR
On Wednesday, Shibarium (the workforce behind the SHIB token) launched their model spankin’ new Ethereum Layer-2 (L2) blockchain.
Drawback is, following the Shibarium launch, when customers have tried to port their funds from Ethereum to the L2, it hasn’t labored.
As an alternative of proudly owning the problem, pausing transactions and determining the best way to repair it, yesterday Shibarium launched a weblog titled “Shibarium: ALL IS WELL.”
The Web3 house is all about belief. Lose belief on day 2 and it might take a looong time to get well…If in any respect.
Full Story
Shedding belief on day 2 of a product launch ain’t nice.
However that’s precisely what’s occurred for Shibarium.
Right here’s what we all know thus far:
On Wednesday, Shibarium (the workforce behind the SHIB token) launched their model spankin’ new Ethereum Layer-2 (L2) blockchain.
The intention being to supply an L2 on Ethereum that’s even cheaper and sooner than Polygon (one other L2 on Ethereum), whereas shedding the repute they’ve as merely the creators of a ‘meme coin.’
(Sounds nice in concept).
Drawback is, they’ve bought themselves a brand new repute (which instantly makes ‘creators of a meme coin’ sparkle compared).
Following the Shibarium launch, when customers have tried to port their funds from Ethereum to the L2, it hasn’t labored.
As of this writing roughly $2.5M in funds are caught between the 2 networks.
Which sucks, however the story doesn’t finish there.
As an alternative of proudly owning the problem, pausing transactions and determining the best way to repair it, yesterday Shibarium launched a weblog titled “Shibarium: ALL IS WELL.”
In it they stated the one purpose it’s down is due to the “Insane visitors” being pushed to Shibarium.
However crypto Twitter sleuths produce other concepts…
We’re not crypto Twitter sleuths, and we’re not a part of the ‘ShibArmy.’
What we all know for positive is: the Web3 house is all about belief. Lose belief on day 2 and it might take a looong time to get well.
If in any respect.
