The Shibonk team has provided sneak peeks and indications to the community over the last week about Shibonk’s potential transition into a multichain currency. In a recent release, Shibonk announced that the company would be teaming with one of the major Bridge Solutions currently available to give the Shibonk Community a Bridge solution that is secure and easy to use.
The Shibonk Token will be distributed over three additional blockchains within the next seven to fourteen days, which will result in the addition of around 2,500,000 new Active daily addresses that may interact with the Shibonk Token and its community.
What’s a Defi bridge, and what’s in it for Shibonk lovers?
Users can transport tokens swiftly and securely between two blockchains via a link called a crypto bridge. This bridge is a connection between the two blockchains. Tokens may be traded directly with one another over the bridge without the need to go through a third-party exchange or place faith in a centralized authority in the process. Because of this, trustless trading is possible, and users no longer have to worry about their assets being stolen or lost if an exchange is hacked.
There may be numerous advantages to be gained by integrating Shibonk into several blockchains. These advantages include better cross-chain interoperability, better accessibility, and scalability, hardening against difficulties arising from a single point of failure, and improved security. Users can more readily access marketplaces on other networks because of the ability to shift assets across different blockchains. In addition, making an asset accessible on several chains paves the way for increased acceptance among the user base, contributing to increased scalability and growth. Shibonk will become more robust and user-accessible due to using the power of several blockchains.
Once it has been implemented on all three new blockchains, Shibonk will be added to three new exchanges. These exchanges are PancakeSwap, Uniswap, and SpookySwap. Because of this, Shibonk will be exposed to 106 times the amount of TVL it is exposed to on Solana Network, despite being only listed on Raydium and orca.
The team says that the cross-chain option for $SBONK will have a direct effect on overall growth, both in a Community sense and a Commercial sense, due to the massive rise in exposure to Volume, Tvl, and social position that will occur as a result of the implementation of the solution.