Main navigation

Shiba Inu's Shibarium Unveils New Updates for SHIB Community

Wed, 05/10/2023 - 14:26
article image
Gamza Khanzadaev
Here are latest tweaks to Shibarium in preparation for major update
Shiba Inu's Shibarium Unveils New Updates for SHIB Community
Cover image via www.freepik.com
Read U.TODAY on
Google News

Unification Foundation, the developer of Shibarium, has released a new update for the SHIB community regarding Puppynet. The update includes the deployment of two tools, Verified Open Randomness (VOR) and Oracle of Oracles (OoO).

VOR is used to generate true randomness in different applications such as on-chain gaming, lottery and generative NFTs. OoO, on the other hand, helps prevent price hacks and provides the best prices for decentralized investment funds.

Related
SHI Stablecoin Not Deployed Yet, Shibarium Admin Says, Cooling off SHIB Army's Expectations

The main goal of the deployment is to spin up the Oracle applications and start serving data requests. Unification Foundation aims to provide SHIB community members with the best tools to maximize their returns and net asset value. Shibarium was developed to enhance the SHIB ecosystem, and the Unification Foundation is at the forefront of developing it.

The Unification team has also successfully deployed the xFUND test token on the beta testnet and bridged the L1 to the L2, successfully transferring xFUND test tokens between the two. The next stage is deploying the OoO and VOR Router smart contracts on Shibarium L2 and then activating the Oracle applications to serve data requests.

Related
Shiba Inu Jumps 3% to Print New Bullish Pathway, Here's What to Expect

The deployment of these tools is a big step forward for the Shiba Inu community, as it will provide them with more robust and secure tools for their investments. The deployment process is ongoing, and SHIB community members can expect more updates soon.

article image
About the author

Financial analyst, trader and crypto enthusiast.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.

He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.