Recent Shibarium bridge enhancements that have significantly reduced BONE transfer times have led to a 15% increase in trading volumes for the Bone ShibaSwap token.
Bone grafting completed in 45 minutes using a cibarium bridge
Bone ShibaSwap token holders will be able to move their BONE holdings in a record 45 minutes – a significant increase that reflects Shibarium's determination to embrace technological advancements, as well as a broader commitment to delivering streamlined operations and increased efficiency.
According to a post on TheShibDaily by the Shiba Inu development team, users had to wait seven days before they could move their BONE tokens from Shibarium to Ethereum. During the one-week waiting period, the BONE tokens were subject to a lock-in period, extending the time for users to interact with Layer 2.
(L2) Solution, cibarium.
This interactive period was seen as a potential driver for Bone ShibaSwap price. This improvement is bullish for Bone ShibaSwap price and signals a strategic shift away from the era of leveraging interaction times to influence price. Instead, the network is prioritizing user experience, network efficiency, and ecosystem stability as drivers of BONE's market value.
Lucie Sasnikova, technical and marketing expert for Shibarium and the Shiba ecosystem, revealed the improvements in a post on X (formerly Twitter).
Going forward, ecosystem participants will enjoy a more seamless process for the convenience of community members and network residents.
Shibarium L2’s dominance is also poised to benefit from this ascendancy of decentralized finance (DeFi) protocols.
According to data from DefiLlama, Shibarium’s Total Value Locked (TVL) has increased 17% over the past five days, from $2.11 million on May 24 to $2.47 million at press time.
Transfer of BONE tokens through the new operating system
The development team emphasizes that under the new system, checkpoints will be installed for all BONE token exits from the Shibarium ecosystem. Under the new system, it will look like this:
- BONE holders will be able to take control of their assets faster
- Project builders can develop complex and emergent applications on the L2 chain.
Notably, this enhancement only applies to current transfers, so any transfers initiated prior to the upgrade will be subject to a seven-day waiting period.
The price of BONE has risen by around 2% in the past 24 hours and is trading at $0.6865 as of 21:05 GMT, with volumes surging by 15%.
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