The charitable organization, led by the eight-time WBC champion, is poised to leverage the Shibarium blockchain. This strategic move aims to optimize fundraising, distribution, and various operational processes.
Shibarium, an emerging blockchain in the Shiba Inu (SHIB) ecosystem, is set to be utilized by the Manny Pacquiao Foundation. This integration will enhance the foundation’s fundraising and day-to-day operations, starting this Wednesday.
According to developers, this strategic move aims to enhance efficiency, as disclosed in a release provided to CoinDesk.
Pacquiao Foundation: Global Impact with Shibarium Blockchain
Emmanuel (Manny) Pacquiao, the renowned eight-division World Boxing Champion and former Philippine Senator, leads the Manny Pacquiao Foundation.
Additionally, this foundation functions as a California 501(c)(3) nonprofit organization. The foundation has been accepting SHIB on its website since 2021.
However, Jon Sisson, the Executive Director of the Manny Pacquiao Foundation, expressed the foundation’s commitment to global humanitarian efforts. In a statement to CoinDesk, Sisson emphasized,
“The Pacquiao Foundation is dedicated to fighting for those in need around the world and has already done so for more than a million people requiring urgent assistance.”
Furthermore, he emphasized that the use of Shibarium would facilitate the continuation of their charitable initiatives. This adoption is set to enable the scaling up of operations to assist millions more.
Shibarium Boosts Shiba Inu’s DeFi Goals with Ethereum Layer 2 Success
Shibarium, positioned as a layer 2 blockchain operating on the Ethereum platform, offers users cost-effective transaction capabilities within the network.
Notably, Layer 2 blockchains operate as off-chain applications layered upon a base blockchain. They are renowned for their faster processing speeds and reduced bottlenecks.
Moreover, despite encountering challenges during its initial launch in August, Shibarium has successfully rebounded. Subsequently, according to available data, it is currently handling thousands of transactions on a daily basis.
Consequently, the broader Shiba Inu ecosystem has been actively positioning itself as a formidable player in the decentralized finance (DeFi) landscape.
However, In August 2020, the popular SHIB token was introduced, drawing inspiration from the Shiba Inu dog breed and bearing similarities to Dogecoin (DOGE).
Additionally, this swift introduction propelled SHIB to become one of the leading meme coins, based on market capitalization.
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