The Shibarium tier 2 solution from the creators of the Shiba Inu meme token (SHIB) has resumed withdrawals via the Ethereum bridge after prolonged glitches during the launch.
The project’s mainnet was deployed on August 16, but a day later, Shibarium experienced operational problems. As a result, according to Beosin analysts, about 1,003 ETH worth $1.8 million were stuck in the internetwork protocol.
In addition, Shibarium management tokens – BONE – worth an estimated $762,000 hung in the smart contract. For almost two weeks, no transactions in the crosschain bridge have been confirmed.
After the protocol was reactivated, the output of SHIB, LEASH and “wrapped” ETH became available to users. The process is expected to take from 45 minutes to 4 hours.
BONE withdrawals are also set up, but transaction processing can take up to seven days.
The Shibarium developers specified that the problem was due to “a huge volume of traffic that came in within seconds” after the network was launched. According to them, the surge of transactions created an excessive load on the servers, causing them to exceed the planned operational limits.