In the ever-evolving universe of cryptocurrency, a new player rises in the form of Shibarium, the Layer-2 solution to the Shiba Inu ecosystem. Capitalizing on the decentralized revolution, Shibarium promises to deliver faster and more cost-effective transactions, thereby enhancing the overall user experience and fueling wider adoption.
A key component to understand within this complex mosaic is Shibarium Name Service (SNS), a dynamic sub-structure specifically designed for Shibarium. By simplifying the address system and providing a human-readable format, SNS sets out to be an essential factor in the operation and identity of Shibarium.
SNS, or Shibarium Name Service, is powered by its native tokens. Initially, a staggering number of 100 billion tokens were created, setting the stage for an expansive ecosystem.
As of the current status(5 July 2023), 3.39 billion tokens have been burned by the team, revealing their commitment to reduce the available supply and create a deflationary environment. The tokens serve an essential purpose – they are used to mint SNS domains, with each domain costing $25 in SNS, which are then burned.
Having provided some introductory insights into Shibarium Name Service (SNS), it’s time to delve deeper. I’m excited to embark on this journey of exploration with you. In order to unfold the layers of Shibarium, and particularly, SNS, I have curated an upcoming Twitter thread where you’ll find a streamlined and in-depth discussion: [Twitter link]
Simultaneously, to give you a comprehensive understanding of this groundbreaking technology, I recommend this insightful Medium article. This piece will not only augment the discussion from the Twitter thread but also provide a broader perspective on the potential implications of SNS within the Shibarium ecosystem: [Medium link]
So, let’s gear up and plunge into the intriguing world of Shibarium and SNS. Our journey of understanding this transformative technology begins now.
The project links:
Website: https://dogtag.id
Twitter: https://twitter.com/dogtag_id
Telegram: https://t.me/dogtag_id
Telegram: https://t.me/snscommunityportal (UNOFFICAL community chat)
Fortune favors the patient
Twitter threads:
https://twitter.com/YannickMrCrypto/status/1640018032628998144
https://twitter.com/YannickMrCrypto/status/1677779205906391040