In an effort to bolster the Shiba Inu ecosystem, the Shibarium developers have announced the introduction of a new feature focused on enhancing community engagement and support for the network’s validators. The development team behind Shibarium announced the introduction of the “Donate” feature yesterday.
Shibarium’s New Donate Feature
This feature marks a significant step in the network’s journey towards creating a more inclusive and robust ecosystem. Ragnar Shib, a prominent member of the Shiba Inu community, known for his role as a Telegram group admin and community manager, heralded this update in a statement on X, saying, “New updates in Shibarium’s official website. Let’s go!!! And check our latest announcements and FAQ.”
The core of this new functionality lies in empowering the Shibarium community to contribute directly to non-profit validators, who are instrumental in maintaining the network’s efficiency and security. According to the official Shibarium website, “This feature allows our user community to contribute financially to non-profit validators who are crucial in maintaining the efficiency and security of the Shibarium network.”
The process of donating is made user-friendly and straightforward. Users can navigate to the information page of their chosen validator from a comprehensive list, select the “Donate” button, and specify the token and amount they wish to contribute.
This initiative is a strategic move by the Shibarium team to enhance the network’s resilience by supporting validators. Validators are central to the blockchain’s operation, responsible for verifying transactions and maintaining the ledger’s integrity. They are compensated with rewards, proportional to their stake, shared among all participants.
As of now, Shibarium operates with 12 validators. The top five validators, based on the staked amount, are ShibArmy America with 5.18 million BONE, Unification with 4.91 million BONE, ShibArmy Europe with 2.99 million BONE, Ryoshi Labs with 1.77 million BONE, and ShibArmy Asia with 1.57 million BONE.
The number of validator slots is limited to 100, with each validator required to stake a minimum of 10,000 units of BONE. Currently, 21,488,549 BONE, worth $13.6 million are staked on Shibarium.
The introduction of the “Donate” feature is a reflection of Shibarium’s commitment to fostering a supportive and sustainable environment for its validators and users alike. This move is anticipated to positively impact the overall integrity and functionality of the Shibarium network.
Alongside this feature, the team has also unveiled a new FAQ page on the Shibarium application, aiming to provide clear, accessible, and immediate information for application-related inquiries.
Shiba Inu Price
At press time, the Shiba Inu price was trading at a critical level. For the fourth time in 16 months, the SHIB price was rejected at the descending trend line (blue line) of the falling triangle in the 1-week chart. At the end of the week, SHIB fell below the 0.236 Fibonacci retracement level again. If the trend line is not retested this week, a renewed plunge towards the neckline at $0.00000715 could be looming.
SHIB is rejected at the trend line, 1-week chart | Source: SHIBUSD on TradingView.com
Featured image from CryptoRank, chart from TradingView.com
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Author: Jake Simmons
