Sybarium by Sylvainu celebrates its first anniversary with the launch of new features focused on strengthening security and reducing the token supply.
These improvements demonstrate the significant adoption and growth of Ethereum-based layer 2 networks over the past year.
Sybarium Introduces Enhanced Security Measures
Lucy, the head of marketing at Sylvainu, recently announced the introduction of new security features on the network.
“Sybarium has added a revolutionary feature called ‘Security Score’ for contracts created on the network. This feature enhances transparency and provides peace of mind to all participants in the ecosystem,” Lucy explained.
The newly implemented “Security Score” feature assesses the vulnerabilities of smart contracts on the network by assigning them a score ranging from 1 to 100. Leveraging SolidityScan, a smart contract vulnerability scanner, contracts are evaluated based on parameters such as security level (critical, high, medium) and gas fees to enhance transparency within Sybarium.
Shibarium’s Innovative Burn Feature – ShibTorch
Moreover, Shibarium has launched ShibTorch, a self-ignition feature inspired by the Ethereum EIP-1559 upgrade. ShibTorch enhances this concept by locking the transaction base fee into the burn contract, enabling users to trigger burns once the base token BONE reaches a certain threshold. These burns convert BONE from Ethereum to SHIB, leading to the permanent reduction of SHIB tokens and the overall token supply.
“ShivTorch empowers the Shiva community to actively shape the future of Shiva. By engaging in the burning process, users can contribute to increasing the value of SHIB and cementing its position in the cryptocurrency realm. ShivTorch embodies a commitment to decentralization and strengthening the Shiva ecosystem,” Lucy added.
Exciting Developments and the Future of Sybarium
Looking ahead, the Sibarium ecosystem anticipates the upcoming SibaCon conference scheduled to take place in Bangkok in November. This event serves as a crucial platform for Memcoin enthusiasts to engage and gain deeper insights into the project, a significant milestone for Memcoin’s evolution.
“SibaCon represents a pivotal moment for the Shivanu ecosystem and is a must-attend event for blockchain professionals. Being part of the Shiv Army provides an avenue for connection, learning, and interaction within our community,” expressed Lucy.
All these milestones coincide with Sybarium’s first anniversary, as the Ethereum-based layer 2 network boasts 1.8 million registered wallets and approximately 418 million transactions completed. Despite the increased activity, Sybarium continues to maintain low gas fees and processes an average of around 4,700 transactions daily.
Furthermore, Lucy disclosed that Sybarium has secured US$12 million for future expansion plans, including ventures into NFTs, gaming, and the Metaverse, signaling an exciting trajectory for the platform.
