Shibarium Announces Major Upgrades with New SHIB Burn Contract  

• Shibarium upgrades include Heimdall and Bor enhancements for post-Dencun compatibility and improved blockchain performance.  
• A new SHIB burn contract aims to reduce token supply, boosting value for holders.  
• The SHIB army recently burned over 2 billion tokens in a single transaction, increasing the burn rate by 3,162%.  

The layer-2 blockchain Shibarium has introduced significant upgrades for its mainnet, as shared by its official X account, @ShibariumNet. The upgrades focus on enhancing compatibility with Ethereum’s Dencun hardfork while implementing improved functionalities. The Heimdall and Bor hardfork updates, along with a new SHIB burn contract, were unveiled as part of the announcement.

The team published detailed guidance, recommending node operators first implement the Heimdall upgrade, followed by updates to the Bor features. According to Shibarium’s documentation, the Heimdall update ensures seamless post-Dencun operations for users.  

Bor Upgrade Enhances Performance

The Bor upgrade is designed to improve performance, enhance security, and strengthen blockchain management. Additionally, it integrates a new SHIB burn contract aimed at reducing the token supply. Shibarium emphasized that the burn contract has been upgraded to support future updates, promising exciting enhancements for the ecosystem.  

Node runners have been advised to ensure their nodes are updated to the latest versions before downloading and installing the upgraded hardforks. The Bor upgrade is expected to deliver a more secure and efficient blockchain experience.  

New SHIB Burn Contract Introduced 

The updated SHIB burn contract is set to be activated at block 8,200,512. Although specific details have not been disclosed, Shibarium’s team highlighted its significance in reducing the total SHIB token supply. This development aims to provide greater value to SHIB holders while supporting the blockchain’s long-term objectives.  

Recently, the SHIB community achieved a record-breaking burn rate. Over the past 24 hours, 2,022,950,833 SHIB tokens were destroyed, with nearly all of them 2,020,624,700 SHIB burned in a single transaction. This feat marked a 3,162.56% surge in the burn rate.  

The founder of SquidGrow, Shibtoshi, is believed to be behind the significant burn activity, as he reportedly burned over 3.1 billion SHIB in November alone. His contributions have strengthened the SHIB army’s efforts to reduce the token supply and increase the value of SHIB.