LaborX, the leading freelancing platform, has made a significant move towards embracing the world of Web3 by incorporating two cryptocurrency tokens, Shiba Inu (SHIB) and Bone ShibaSwap (BONE), into its platform. This integration has opened up exciting prospects for freelancers, bridging the gap between the gig economy and the realm of digital currencies.
LaborX, often referred to as the “meme coin Rock Star band” of the freelancing sphere, has recently announced a game-changing decision that has 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.
The platform’s journey into the world of meme coins began in February of the previous year when it added support for Shiba Inu (SHIB). Users enthusiastically received this initiative, as it allowed them to earn iconic meme coins by completing various tasks. This initial integration was a great success and laid the foundation for LaborX’s latest move.
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 on the platform. This fusion of freelancing and cryptocurrency perfectly encapsulates LaborX’s innovative spirit.
Following the successful integration of SHIB, LaborX has introduced Bone ShibaSwap (BONE) as an additional payment option. This strategic move enables users to engage in Web3 jobs or post freelance opportunities while accumulating BONE tokens in the process. The inclusion of BONE tokens further demonstrates LaborX’s commitment to staying at the forefront of Web3 advancements.
Beyond the headline-worthy cryptocurrency integrations, LaborX’s underlying blockchain infrastructure, Shibarium, has achieved an impressive milestone within just a month and a half of its launch. The platform has witnessed over 3,000,000 transactions, showcasing Shibarium’s scalability and potential.
It’s important to note, however, that daily transaction numbers on Shibarium have displayed fluctuations. After reaching 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 was eagerly anticipated within the SHIB community, not only for its potential in expanding SHIB’s utility but also because it contributes to Shiba Inu burns.
Every 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 of now, 0.5 BONE has been accumulated for future SHIB burns.
Despite its impressive journey, Shibarium has faced 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 highlight the necessity for continuous development and optimization of the platform to ensure a seamless user experience.
In a recent update, the SHIB community successfully removed a significant amount of SHIB from circulation within the past 24 hours. A total of close to 200 million SHIB was burned, resulting in a 535% increase in burn rate and the incineration of 194,116,333 Shiba Inu coins. This relentless burn strategy aims to create scarcity and value for SHIB holders.
As the week progresses, LaborX will tally the total SHIB burned for the week. Last week witnessed the SHIB community burning more than half a billion meme coins, locking them away in unspendable cryptocurrency wallets.
In conclusion, LaborX’s integration of SHIB and BONE tokens represents a groundbreaking stride that solidifies its position as a pioneer in the Web3 freelance ecosystem. The remarkable milestones achieved by Shibarium and the relentless SHIB burns reflect the vibrant and dynamic nature of the Web3 community. As Web3 continues to evolve, LaborX stands as a beacon, offering freelancers unprecedented opportunities in this decentralized frontier.