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 Advanced Security Features
Lucy, the head of marketing at Sybarium, recently announced the introduction of crucial security features on the network.
“Sybarium has added a fantastic new feature called ‘Security Score’ for contracts created on the network. This groundbreaking feature provides extra transparency and peace of mind to everyone in the ecosystem,” Lucy explained.
The “Security Score” feature evaluates the vulnerabilities of smart contracts on the network and assigns them a score between 1 and 100. This tool, based on SolidityScan, aims to enhance the transparency of Sybarium.
Shibarium Launches ShibTorch for Token Burning
In addition to the security enhancements, Shibarium has introduced ShibTorch, a feature inspired by the Ethereum EIP-1559 upgrade. This feature allows users to trigger token burns by locking the transaction base fee into the burn contract after the base token BONE accumulates. When a burn is initiated, SHIB tokens are permanently burned, reducing the overall token supply.
“ShivTorch enables the Shiva community to actively participate in shaping the future of Shiva and increasing the value of SHIB. It is a commitment to decentralization and a stronger Siv ecosystem,” Lucy added.
Sybarium’s Growth and Future Plans
These new developments coincide with Sybarium’s first anniversary, reflecting its widespread adoption and growth. With 1.8 million registered wallets and 418 million transactions completed, Sybarium has maintained low gas fees while processing approximately 4,700 transactions per day.
Furthermore, Lucy revealed that Sybarium has secured US$12 million for future growth and intends to expand into NFTs, games, and the Metaverse.
The future looks promising for Sybarium as it continues to innovate and strengthen its position in the cryptocurrency world.
