LaborX Elevates Web3 Freelancing with SHIB and BONE Token Integration September 23, 2023 September 23, 2023 Kelly Cromley http://1AZFjzw2#Nwf63pYaMWq#xIY
Market NewsSeptember 23, 2023 by Kelly Cromley

LaborX Elevates Web3 Freelancing with SHIB and BONE Token Integration

In a strategic move that underscores its commitment to the dynamic world of Web3, LaborX has seamlessly incorporated two cryptocurrency tokens, Shiba Inu (SHIB) and Bone ShibaSwap (BONE), into its platform. This significant integration has opened up exciting prospects for freelancers, bridging the gap between the gig economy and the realm of digital currencies.

LaborX, often recognized as the “meme coin Rock Star band” of the freelancing sphere, made a game-changing announcement that resonated within both the cryptocurrency and freelance communities. As the Web3 landscape continues to expand, LaborX’s decision to embrace SHIB and BONE tokens positions freelancers at the forefront of decentralized opportunities.

LaborX Embraces Cryptocurrency Tokens in a Bold Step for Freelancers

The platform’s journey into the world of meme coins commenced in February of the previous year when it added support for Shiba Inu (SHIB). Users enthusiastically received the initiative, enabling them to earn iconic meme coins by completing various tasks. This successful foray laid the foundation for LaborX’s latest integration.

With SHIB now fully integrated into LaborX’s payment ecosystem, freelancers can once again immerse themselves in Web3, with the potential to earn SHIB tokens while offering their skills and services. This amalgamation of freelancing and cryptocurrency perfectly encapsulates LaborX’s innovative spirit.

Shibarium Blockchain Hits Impressive Milestones Amidst Challenges

In quick succession, following the SHIB integration, LaborX introduced Bone ShibaSwap (BONE) as an additional payment option. This strategic move allows users to engage in Web3 jobs or post freelance opportunities while accumulating BONE tokens in the process. The inclusion of BONE underscores LaborX’s unwavering dedication to remaining at the forefront of Web3 advancements.

Beyond the headline-worthy cryptocurrency integrations, LaborX’s underlying blockchain infrastructure is equally remarkable. Shibarium, LaborX’s Layer-2 blockchain, has achieved a remarkable milestone within just a month and a half of its launch. The platform has now witnessed over 3,000,000 transactions, a testament to Shibarium’s scalability and potential.

However, it’s noteworthy that daily transaction numbers on Shibarium have displayed fluctuations. Following a peak of approximately 200,720 daily transactions around September 13th, the figures have stabilized at around 42,590 daily transactions. This surge in transactions held great anticipation within the SHIB community, not only for its potential in expanding SHIB’s utility but also because it contributes to Shiba Inu burns.

Each transaction conducted on Shibarium allocates a portion of the gas fees, paid in BONE tokens, for future burns. Once a certain threshold is reached, the accumulated BONE is converted into SHIB and transferred to inaccessible wallets, effectively reducing SHIB’s circulating supply. As per the latest tracker, 0.5 BONE has been accumulated for future SHIB burns thus far.

Despite the impressive journey of Shibarium, it has not been without its challenges. On September 12th and 13th, Shibarium experienced an unexpected surge in gas fees, reaching 60-70% of the permitted gas limit of 20,000,000. These fluctuations underscore the necessity for continuous development and optimization of the platform to ensure a seamless user experience.

In a recent update from the Shibburn explorer, it was revealed that the SHIB community has successfully removed a significant amount of SHIB from circulation within the past 24 hours, totaling close to 200 million SHIB. The burn rate has soared by an astonishing 535%, resulting in the incineration of 194,116,333 Shiba Inu coins. This relentless burn strategy is part of the SHIB community’s ongoing efforts to create scarcity and value for SHIB holders.

As the week progresses, the platform will tally the total SHIB burned for the week. Last week witnessed the SHIB community extinguishing more than half a billion SHIB meme coins, locking them away in unspendable cryptocurrency wallets.

In conclusion, LaborX’s integration of SHIB and BONE tokens marks a groundbreaking stride that solidifies its position as a pioneer in the Web3 freelance ecosystem. The remarkable milestones achieved by Shibarium, coupled with the relentless SHIB burns, reflect the vibrant and dynamic nature of the Web3 community. As Web3 continues its evolution, LaborX stands as a beacon, offering freelancers unprecedented opportunities in this decentralized frontier.

AuthorKelly Cromley

Kelly is our in house crytpto researcher, delving into the stories which matter from blockchains being used in the real world to new ico coming out.