Singapore-based cryptocurrency exchange Bitrue has joined the growing list of platforms bolstering their support for Shiba Inu (SHIB) and its ecosystem tokens, BONE and LEASH. The exchange recently announced the introduction of staking options for LEASH and BONE, allowing users to earn up to 10% annual percentage yield (APY) interest in Shiba Inu.
The staking pool is now open, invest your $LEASH or $BONE to earn $SHIB.
👉 Deposit now https://t.co/T64gAVzJH7 https://t.co/v01xCI61jS
— Bitrue (@BitrueOfficial) July 12, 2023
Bitrue activates the staking feature for Shiba Inu Tokens, LEASH and BONE
On July 12, at 13:00 (UTC), Bitrue activated the staking feature for LEASH and BONE, which was met with enthusiasm by the Shiba Inu community. The exchange promptly shared the news on Twitter, inviting community members to invest their LEASH and BONE to earn SHIB. This move aligns with Bitrue’s efforts to provide its users with attractive opportunities to participate in the Shiba Inu ecosystem.
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Bitrue further demonstrated its commitment to Shiba Inu’s growth by publishing a Medium blog post that delved into the unique design and significance of Shibarium, the ecosystem’s upcoming layer-2 scaling solution. The exchange applauded the developers and community members for transforming Shiba Inu from a meme coin into a multifaceted ecosystem with substantial solutions.
Biture talks about the objectives of improving investor interest and scalability
In the blog post, Bitrue highlighted Shibarium’s core objective of improving investor interest and scalability. The layer-2 scaling solution is being developed to incorporate the delegated proof-of-stake (DPoS) consensus mechanism. This mechanism, known for its efficiency and security, allows SHIB holders to participate in the network’s consensus and governance processes by delegating their tokens to trusted nodes.
Shibarium’s integration with Shiba Inu’s ecosystem is expected to significantly enhance its efficiency, speed, and overall user experience. As a layer-2 scaling solution, it aims to alleviate the network’s congestion and high gas fees, which have been a concern for users in the past.
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Bitrue’s decision to support SHIB staking and highlight the potential of Shibarium demonstrates the exchange’s recognition of Shiba Inu’s growing prominence and its commitment to offering diverse opportunities for its user base. By providing staking options, Bitrue enables SHIB holders to actively participate in the network while earning additional rewards.
As the Shiba Inu community eagerly anticipates the launch of Shibarium’s mainnet, Bitrue’s support and promotion of the ecosystem are expected to further accelerate its development and adoption. The partnership between Bitrue and Shiba Inu represents a significant milestone for both entities, bringing increased liquidity and utility to the SHIB, LEASH, and BONE tokens.
Disclaimer: The information provided here is for informational purposes only and should not be considered investment or trading advice. Cryptocurrency investments are subject to market risks, and individuals should conduct their own research before making any investment decisions.
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