The volume of Bone ShibaSwap token transactions increased by 15% following recent Shibarium bridge improvements, significantly reducing BONE transfer time.
BONE Transfer Time on Shibarium Bridge
It was announced that Bone ShibaSwap token investors could transfer their BONE assets in a record time of 45 minutes. This marks a significant step reflecting Shibarium’s commitment to technological advancement. Additionally, it indicates a streamlined transaction process.
According to data provided by the Shiba Inu development team at TheShibDaily, users faced a seven-day waiting period to transfer BONE tokens from Shibarium to the Ethereum network. During this week-long waiting period, BONE tokens would undergo a lock-in period aimed at extending the interaction time with Shibarium’s Layer-2 (L2) solution.
This intended interaction period was considered a potential supportive force for the Bone ShibaSwap price.
The development could also be seen as a supportive factor for the Bone ShibaSwap price, indicating a strategic shift to benefit from the interaction period to impact the price.
Instead, the network prioritizes user experience, network efficiency, and ecosystem stability as potential market value factors for BONE.
Lucie Sasnikova, a renowned technology and marketing expert for Shibarium and the Shiba ecosystem, clarified this situation via X (formerly known as Twitter).
Henceforth, ecosystem participants will enjoy smoother processes for the convenience of community members and network residents.
Shibarium L2’s dominance is also set to benefit from this rise among Decentralized Finance (DeFi) protocols.
According to data provided by DefiLlama, the Total Value Locked (TVL) on Shibarium increased by 17% within five days, rising from $2.11 million on May 24 to $2.47 million at the time of writing.
BONE Token Transfers
The Shibarium development team also noted that this new system would serve as a checkpoint for all BONE token exits from the Shibarium ecosystem. Under the new system:
BONE holders will manage their assets faster.
Project creators can develop complex and urgent applications on the L2 chain.
According to the information provided, this development will only apply to current transfers. In other words, tokens processed before the upgrade will still be subject to the seven-day waiting period. BONE is trading at $0.6926 after a 1.6% drop in the last 24 hours.
