SHIB devs says ‘funds are SAFU’ after Shibarium fail

The developers behind Shibarium — the layer-2 blockchain created for the Shiba Inu ($SHIB) ecosystem — have been posting on the Shib.io Blo about the failed Shibarium launch which saw the SHIB price fall by 5% with a nearly day-long transaction pause.

A post by Shytoshi Kusama, one of the team leads, entitled Shibarium: ALL IS WELL, has defended the project and proclaimed that there are no bridge issues.

According to Kusama: “Let’s deal with the fud. There is no bridge issue, any screenshot you see of me saying any issue is false and your funds are safu. So what is happening?”

Kusama also points at a “massive influx of transactions”, as a reason for the network going down and said they are “working tirelessly to scale” before they restarting it all.

He adds: “To give an example of the insane level of traffic we just experienced, let’s look at one analytic provided by one service we used to check everything, ALCHEMY.

“On the enterprise plan we have with Alchemy, we are allotted 400 Million compute units a MONTH. At launch, we experienced 160+ Million compute units in approximately 30 minutes.

“If we continue at that rate, we are expected to reach Billions of compute units in a day, on par with the most active L2 Blockchains that exist. Although we expected a very busy moment, we never expected THIS much traffic, instantly.

“Other stats: 1000 Eth, 600,000 Bone deposited into our new chain in approximately, 15 minutes! This just proves that the ShibArmy is STRONG.

“Give us time to scale with the amazing team at Unification and others, and then bring up our amazing chain once again so that we can start our journey towards perpetual decentralization. Ignore all fud, and don’t click on any links you see that aren’t on Shib.io as they could be dangerous.”

As of today, Shibarium has reactivated and is generating blocks, a per the Shibariumscan.io block explorer.