In a remarkable feat of decentralized network growth, Shibarium has hit a significant milestone as the Shiba Inu Community rallies together to delegate an impressive 19.82 million BONE tokens, valued at approximately $26.56 million, on the Shibarium Network. This achievement showcases the community’s strong commitment to the project and marks a significant step towards enhancing the security and functionality of the network.
Almost 20 Million BONE stake in the Shibarium
Shibarium Tech, the driving force behind this innovative network, proudly announced the achievement on its official website. This substantial delegation amounts to an impressive 7.93% of the total supply of BONE tokens, underscoring the community’s dedication to the success of Shibarium.
At the heart of this achievement lie the 12 validators who have come on board to power the Shibarium Network. These validators play a crucial role in the network’s operation, validating new transactions and upholding the security of the blockchain. With a maximum cap of 100 validator slots, these nodes represent the backbone of Shibarium’s infrastructure.
Requirements to become a validator
To become a validator on the Shibarium Network, participants are required to stake a minimum of 10,000 units of BONE tokens. This staking mechanism demonstrates a validator’s commitment to the network’s security and helps maintain the network’s integrity. These validators were carefully chosen based on a set of stringent criteria including their experience, expertise, and trustworthiness. This rigorous selection process ensures that the network benefits from the expertise of dedicated validators who are well-equipped to ensure its smooth operation.
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On the other side of the equation, the delegators, who constitute a vital component of the network, are BONE token holders who opt not to operate a validator node themselves. Instead, they actively contribute to the network’s security and efficiency by delegating their stake to the validator nodes. In return for their contribution, delegators earn a share of the rewards generated by the network. This approach not only encourages broader participation but also fosters a sense of collaboration and inclusivity within the community.
Shibarium’s journey has been marked by continuous growth and development, with this latest achievement standing as a testament to the project’s dedication to creating a secure and robust blockchain network. As the Shiba Inu Community continues to play an integral role in the evolution of the Shibarium Network, the project’s vision of a decentralized and thriving ecosystem inches closer to reality.