Sybarium’s First Anniversary Celebration
Sybarium by Syvainu marks a significant milestone as it celebrates its first anniversary with the unveiling of new features focused on enhancing security and reducing the token supply. These developments highlight the substantial adoption and growth of Ethereum-based layer 2 networks throughout the past year.
New Security Features
Lucy, the head of marketing at Sybarium, announced the introduction of essential security features on the platform. One of the standout additions is the “Security Score” feature, which evaluates the vulnerabilities of smart contracts within the network, assigning them a score ranging from 1 to 100. This innovative tool, based on SolidityScan, enhances transparency by providing insights into contract security levels and gas fees.
Introducing ShibTorch
In addition to upgrading security measures, Sybarium has launched ShibTorch, a self-ignition feature inspired by the Ethereum EIP-1559 upgrade. ShibTorch allows users to trigger burns after the accumulation of the base token BONE, resulting in the conversion of BONE to SHIB and the permanent burning of SHIB tokens. This mechanism helps reduce the overall token supply and empowers the Shiva community to actively participate in shaping the future of SHIB.
Upcoming Sibacon Conference and Future Growth
Looking ahead, the Sibainu ecosystem anticipates the Sibacon conference scheduled to take place in Bangkok in November. This event serves as a vital platform for Memcoin enthusiasts to engage and delve deeper into the project’s developments.
These initiatives coincide with Sybarium’s first anniversary, showcasing its widespread adoption with 1.8 million registered wallets and approximately 418 million transactions processed. Despite the increased activity, Sybarium has maintained low gas fees and continues to handle an average of around 4,700 transactions per day.
Lucy also disclosed that Sybarium has secured US$12 million for future growth plans, with aspirations to expand into NFTs, gaming, and the Metaverse. The platform’s commitment to innovation and community engagement positions it as a key player in the evolving cryptocurrency landscape.
