Shibarium Lead Developer: “ALL IS WELL”

Reading Time: 2 minutes
  • The lead developer of the Shibarium project has denied reports of a bridge malfunction
  • ShibArmy’s traffic strained the network during launch, necessitating stability efforts
  • Analytics showed significant activity with rapid community deposits

The lead developer of the Shiba Inu upgrade, Shibarium, has denied reports that the project suffered a bridge malfunction that resulted in $1.7 million worth of ETH getting irretrievably stuck. In a statement addressing the issues, Shytoshi Kusamathe acknowledged the challenges he and his team faced, admitting the dev team’s mistakes that led to the tumultuous launch, but assured users that there is no issue with the bridge itself, dispelling concerns raised by screenshots claiming otherwise. Reassurances were made that users’ funds are secure and the situation will be resolved.

Kusamathe: Ignore the FUD

Kusamathe claimed in a blog post yesterday that one notable factor contributing to the disruption was the overwhelming traffic generated by the ShibArmy, the passionate community supporting Shiba Inu. This marked the first instance where the decentralized team behind the project experienced the full force of the ShibArmy’s impact, resulting in unprecedented levels of activity that strained the network.

The difficulties faced were attributed not to Shibarium, but rather to the “MASSIVE influx of transactions and users” that followed the announcement of Shibarium going live. Despite the system’s validators already being on autoscale mode, the surge in demand exceeded expectations, requiring the development team to work hard to ensure the network’s stability.

1,000 ETH Deposited Within 15 Minutes

To provide insight into the magnitude of traffic, Kusamathe shared analytics from Alchemy, a service used to monitor the network; within the first 30 minutes of launch, the network consumed over 160 million compute units. This rate, if sustained, could have escalated to billions of compute units daily, comparable to the most active Layer 2 blockchains in existence. This resulted in the Shiba Inu community depositing 1,000 ETH and 600,000 Bone tokens into the new chain within approximately 15 minutes.

Shiba Inu fans have been waiting for the launch of the Shibarium ever since the meme coin took hold of the crypto world’s imagination in 2021, which they, and the team, hope will take the Shiba Inu project to the next level. Despite this rocky start, these supporters will no doubt still be 100% behind the project.