Trust, Web3 and The Shibarium Drama
TL;DR
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On Wednesday, Shibarium (the workforce behind the SHIB token) launched their model spankin’ new Ethereum Layer-2 (L2) blockchain.
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Drawback is, following the Shibarium launch, when customers have tried to port their funds from Ethereum to the L2, it hasn’t labored.
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As an alternative of proudly owning the difficulty, pausing transactions and determining the way to repair it, yesterday Shibarium launched a blog titled “Shibarium: ALL IS WELL.”
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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
Dropping 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 up to now:
On Wednesday, Shibarium (the workforce behind the SHIB token) launched their model spankin’ new Ethereum Layer-2 (L2) blockchain.
The purpose being to supply an L2 on Ethereum that’s even cheaper and quicker than Polygon (one other L2 on Ethereum), whereas shedding the fame they’ve as merely the creators of a ‘meme coin.’
(Sounds nice in principle).
Drawback is, they’ve received themselves a brand new fame (which all of the sudden 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 difficulty, pausing transactions and determining the way to repair it, yesterday Shibarium launched a blog titled “Shibarium: ALL IS WELL.”
In it they stated the one cause it’s down is due to the “Insane site visitors” being pushed to Shibarium.
However crypto Twitter sleuths have other ideas…
We’re not crypto Twitter sleuths, and we’re not a part of the ‘ShibArmy.’
What we all know for certain 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.
