Nearly 20,000,000 BONE Now Staked on Shiba Inu Shibarium

Shiba Inu Community Locks in Over $26.5 Million worth of Bone ShibaSwap (BONE) on Shibarium Network.

Shibarium has reached a new milestone as the Community has delegated nearly 20 million units of BONE tokens on the network, with 12 validators onboard.

The official website of Shibarium Tech reveals that the Shiba Inu Community has delegated 19,825,860 (19.82 million) BONE, valued at $26,566,652 ($26.56 million), on Shibarium Network. This accounts for 7.93% of the total supply of BONE.

The latest data from Shibarium Tech also reveals that the network currently hosts 12 validators. These validators and the delegators form the backbone of the Shibarium Network. Validators are blockchain nodes responsible for validating new transactions and maintaining network security.

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Notably, the count of Shibarium validators is capped at 100 slots. These validators are required to stake a minimum of 10,000 units of BONE tokens to offer support to the network. In addition, Shiba Inu revealed its plan in January to handpick these validators based on criteria such as experience, expertise, and trustworthiness.

On the other hand, the delegators are BONE token holders who opt not to run a validator node themselves. Instead, they actively contribute to network security by delegating their stake to validator nodes, earning a portion of the rewards in return.

As of the latest update from The Crypto Basic, Shiba Inu developers have officially announced the relaunch of Shibarium Network. This announcement follows the L2 solution entering a developer-only mode after encountering hiccups on its debut. Shibarium has so far amassed over 65,000 wallets with more than 350k transactions.