Great news for the famous ‘memecoin’ shiba inu (SHIB). Binance, the largest crypto exchange in the world, hits SHIB as of April 18 from the so-called ‘innovation zone’ of the exchange. That means SHIB will be tradable on Binance’s regular trading platform. This does not only apply to shiba inu, but also to frax share (FXS), trust wallet token (TWT) and 1inch (1INCH).
#binance will move the following tokens out of the Innovation Zone:
🔸 $SHIB
🔸 $FXS
🔸 $TWT
🔸 #1INCHhttps://t.co/BepOq4WVYm— Binance (@binance) April 17, 2023
What is the Binance innovation zone?
Binance’s innovation zone is a section of the platform where users can trade new and innovative projects that are perceived as extra risky. When projects prove their worth and meet Binance’s high standards, they can be moved out of the innovation zone.
Multiple criteria are involved in this process. For example, the Binance team looks at the people behind a project, its development, trading volume, liquidity and general stability. If it is up to Binance, the above cryptocurrencies now meet all requirements.
Shiba Inu has big plans
As mentioned, shiba inu is a memecoin. At least, that’s how the project started. SHIB now seems to want to shake off that reputation and want to be taken seriously as a blockchain. For example, soon Shibarium will be launched, a layer-2 solution which is supposed to improve the Shiba Inu ecosystem by offering faster transactions at a lower cost.
Shiba Inu wants to focus mainly on Web3 and gaming, and become the ‘go-to’ blockchain for these sectors. The beta version of Shibarium was already launched on March 11. This testnet, called Puppynet, already experienced increased activity at the beginning of this month.
Testnets, such as Puppynet, are copies of blockchains that mimic the activity on the primary network and are designed for testing purposes. It gives developers a chance to fix any issues and monitor network activity ahead of the official launch.
Shibarium should officially put Shiba Inu on the map as a real blockchain. When the long-awaited release will take place exactly is not yet known. In any case, the beta version seems to be a success for the time being.