Shiba Inu (SHIB) burn to be impacted by Shibarium, here's how much SHIB $SHIB ShibArmy SHIBCommunity
According to the documents, Shibarium would be 10,000 times cheaper than Ethereum. Shibarium transaction fees are separated into base and priority fees.
The base fee is a crucial component of transaction fees on a blockchain. When a user makes a transaction on the network, the base fee is locked in a contract on Shibarium, while the priority fee is paid to the validator. The part that excites the SHIB community is that this base fee will be split into 70% that will be burned and 30% that will be set aside to maintain the network.
During this process, accumulated BONE is sent to Ethereum's L1, where an automated swap for SHIB occurs, and this amount is burned by invoking its contract function. Users will be able to use a specific portal on Shibarium's website for this process, the document states.In positive developments, the chain ID of the Shibarium testnet has been changed from 917 to 719.
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