Shibarium Bridge Resumes Token Withdrawals Following Initial Setbacks

After facing software bugs and encountering initial setbacks, the Shibarium bridge has now enabled token withdrawals for users. The launch of the Shibarium bridge had initially been marked by technical issues, leading to millions of dollars getting stuck on the network. In a recent update, developers revealed that token withdrawals, including shib (SHIB), leash (LEASH), wrapped ether (wETH), and bone (BONE), are now live on the platform.

According to the developers, the withdrawal process is expected to take varying amounts of time for different tokens. Withdrawals of shib, leash, and wETH are projected to be processed within 45 minutes to 3 hours. On the other hand, bone withdrawals might take up to 7 days for completion.

Shytoshi Kusama, the chief developer, emphasized that measures have been implemented to prevent the recurrence of outages that marred the initial launch. The development team collaborated with Polygon blockchain developers to address potential issues and ensure the smooth operation of the bridge.

Shibarium, a fork of the Polygon network, utilizes SHIB tokens as fees in its ecosystem. The project aims to position Shiba Inu as a robust blockchain initiative, particularly focusing on metaverse and gaming applications, in addition to providing cost-effective settlement options for DeFi applications.

During the testing phase, Shibarium showcased significant success, boasting the participation of millions of wallets and conducting around 22 million transactions over a four-month period. However, the network faced considerable challenges upon going live, experiencing transaction stalls and users being unable to transfer funds across the bridge. The issues led to a temporary 10% drop in SHIB prices. Developers attributed the problems to an overwhelming surge of transactions that exceeded the server capacity.

To address these concerns, the Shibarium team has introduced new monitoring systems and additional fail-safes to manage high levels of network traffic and prevent further stoppages. As token withdrawals are now available, the project is striving to regain momentum and overcome its initial obstacles.