Crypto News – Fund withdrawals on its bridge, which enables token transfers to Ethereum, have been resumed on Shibarium, a Layer 2 blockchain created by the Shiba Inu meme coin’s developers.
Shibarium Team Announces Reactivation of Mainnet and Bridge Withdrawals
The team’s recent temporary shutdown of the Shibarium mainnet and bridge due to scalability issues, which effectively blocked access to millions of dollars in user funds, led to the decision. Shibarium’s mainnet first went live on August 16 before being abruptly suspended.
Users were promised that they would have full access to their funds once the mainnet was back up and running after the team blamed the pause on a huge rush of transactions. Shibarium users were unable to withdraw their funds for a number of days, which caused confusion among others in the community.
Shibarium Team Makes Statements to Ease Users’ Concerns
The team has now established that mainnet and bridge withdrawals are both fully operational, allaying earlier worries. Users can now complete withdrawals for a variety of assets, including wrapped Ether, Shib, Leash, and other assets, within a 45-minute to 4-hour window, according to the official statement.
The native Bone token of the network can also be withdrawn. However, the network’s design specifies that processing may take up to 7 days.
Leave a comment