SHEboshi Tokens To Help Burn Shiba Inu: The Shiba Inu team plans to destroy some SHIB tokens using money from SHEboshi sales.
The main creator of Shiba Inu, who uses the fake name Shytoshi Kusama, has announced a new project that might help burn more SHIB coins.
Kusama says that the Shiba Inu team plans to destroy some SHIB tokens. They will use money from selling their new SHEboshi NFTs to do this.
What is SHEboshi?
SHEboshi is a new digital collection for Valentine’s Day, added to the Shiba Inu NFT series. It was made to go with the already existing Shiboshi NFTs. This happened just after Kusama told the Shiba Inu community to get their digital wallets ready.
Unlike the Shiboshi NFTs, SHEboshi will be launched as an ERC-404 token, combining the best traits from the ERC-20 and ERC-721 standards.
Starting this weekend, for 72 hours, people who own Shiboshis can create some SHEboshi NFTs for free. The Shiba Inu team will take a picture of all Shiboshi owners, ranking them into groups by how many Shiboshis they have and how long they’ve owned them.
This will make it clear how many SHEboshis each Shiboshi owner can get. After the time to claim them is over, those who have LEASH can buy any SHEboshis left within 24 hours.
Later, the leftover SHEboshi NFTs will be made available to everyone on Uniswap, which uses Ethereum, and on Shiba Inu’s own exchange, ShibaSwap.
The new SHEboshi NFTs can only be bought using ETH because they were released on the Ethereum network. The reason for this is to draw in investment from ETH investors to Shibarium, which is Shiba Inu’s secondary blockchain.
How SHEboshis Will Contribute to SHIB Burns
The team plans to connect SHEboshi and Shiboshi to the Shibarium network later on. According to what they said, the money made from selling SHEboshi will be split in half. Half of it will go to the Shiba Inu’s budget and costs.
Also, some of the leftover 50% will go towards destroying some of the Shiba Inu system’s tokens. According to The Shib Magazine’s 13th issue, 10% will be for getting rid of Shiba Inu ecosystem tokens. This includes 6% for SHIB tokens, 1% for BONE tokens, 1% for LEASH tokens, 1% for TREAT tokens, and 1% for Shi tokens.
The team is using some of the money from SHEboshi sales to destroy SHIB, which is their newest way to lower SHIB’s very large amount. Remember, they also destroy SHIB by taking some of the transaction fees from Shibarium.
Up to now, more than 40 billion SHIB tokens have been destroyed using Shibarium fees. In total, the Shiba Inu team, its community, and Ethereum co-founder Vitalik Buterin have destroyed over 410.7 trillion tokens.
People expect a lot more SHIB tokens to be destroyed once the Shibarium burning site starts working on the main network. Right now, they are thoroughly testing the system on Puppynet, which is the trial version of Shibarium.
As of now, the rate at which Shiba Inu tokens are being destroyed has decreased by 38.34% in the last 24 hours, with 4.84 million SHIB tokens burned during this period.
Disclaimer: The information on this website isn’t meant to be taken as advice for investing money. Investing involves uncertainty, and there’s a chance you could lose your money when you invest.
