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Shibarium TVL soars 17% thanks to accelerated BONE token transfers to Ethereum
Bone ShibaSwap token trading volume increased by 15% following recent Shibarium bridge improvements that significantly reduced BONE transfer time.
BONE transfers will take place in 45 minutes on the Shibarium Bridge
THE Shiba Bone Swap token holders will be able to move their BONE holdings in a record time of 45 minutes. It marks a significant step forward, reflecting Shibarium’s determination to embrace technological progress. It also reflects a broader commitment to lean operations and greater efficiency.
According to the Shiba Inu development team on TheShibDaily send, users had to endure a seven-day wait before their BONE tokens could move from Shibarium to Ethereum. During the week-long wait, BONE tokens would be subject to a lock-in period intended to extend the period of time users could interact with the token. Layer 2
(L2) solution, Shibarium.
This interactive period has been seen as a possible driver for the price of Bone ShibaSwap. The improvement is also bullish for Bone ShibaSwap’s price, marking a strategic transition from an era that used interaction time to influence price. Instead, the network is prioritizing user experience, network efficiency, and ecosystem stability as possible market value drivers for BONE.
Shibarium and Shiba Ecosystem Marketing and Technology Specialist Lucie Sasnikova revealed the improvement in a post on X (formerly Twitter).
From now on, ecosystem participants will be able to enjoy smoother processes for the convenience of community members and network inhabitants.
The dominant Shibarium L2 is also poised to benefit from this high tier among decentralized finance (DeFi) protocols.
Data according to DefiLlama shows that Shibarium’s Total Value Locked (TVL) increased 17% in five days, from $2.11 million on May 24 to $2.47 million at the time of writing.
Shibarium TVL: Source DefiLlama
BONE token transfers with the new OS
The development team highlights that under the new system there will be a checkpoint for all BONE token releases from the Shibarium ecosystem. With the new system:
- BONE holders will be able to manage their assets faster
- Project builders can develop complex and time-sensitive applications on the L2 chain.
Notably, this improvement will only apply to current transfers, meaning those initiated before the update will be subject to the seven-day wait.
BONE Price rose nearly 2% in the past 24 hours to $0.6865 at 21:05 GMT on trading volume up 15%.
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