While the ShibariumID project is expected to be implemented in October, it is thought that this move may be another turning point for the Shiba ecosystem.

ShibariumID is backed by US-based venture capital firm Proof of Human and is launched as an innovative product in the digital identity industry. According to the information on the official website, the main goal of ShibariumID is to offer a service with .shib extension that will allow SHIB investors in Shibarium to have their own Web3 domain names.

The ShibariumID platform will also have a dedicated market for domain name trading. In addition, the platform is expected to have a user-friendly interface to easily perform management functions such as domain name renewal, registration and ownership control.

ShibariumID plans to support the ecosystem by receiving a commission from the sale of each ".shib" domain name purchased. The proceeds from the domain name sale are planned to be used for activities such as SHIB burning, Doggy DAO donation and supporting non-profit initiatives.

BONE token contract terminated

There is an important development for BONE, which will be the transaction fee token of the Layer-2 solution Shibarium. By waiving the contract holder rights of the BONE token, it enabled the crypto asset to become completely decentralized. Following this move, which reveals the developers' intention to establish a decentralized ecosystem, the demand for cryptocurrency is expected to increase.

Latest situation in BONE and SHIB

BONE rose to $0.93 after recording a value increase of more than 10% in the last 24 hours following the announcement. While the cryptocurrency sees a partial decline today, it continues to change hands in the $ 0.9 region.

While the SHIB token has seen a slight increase in the 1% band since yesterday, it has been moving horizontally since September 11, using the $ 0.0000073 level as a pivot.