The Shibarium network, a layer-two scaling solution on the Ethereum (ETH) chain and focused on the Shiba Inu project, has suffered a major blow. Earlier on Monday, the Shiba Inu team announced that it is no longer endorsing the Shibarium network.
Why Is Shibarium no Longer Supported By Shiba Inu?
According to the announcement, the Shiba Inu ecosystem is best represented by Ryoshi’s vision of decentralization, true utility, and fairness for all holders. The recent Shibarium network attack, in which the team responded with 4.6 million tokens freezing, has raised eyebrows on the decentralization of the Shibarium ecosystem.
“As we said before: we respect those using Shibarium, but we no longer endorse it because it doesn’t align fully with Ryoshi’s vision — which values decentralization, true utility, and fairness for all holders,” the announcement noted.
Although the token freeze help