- The Shiba Inu team plans to burn not only SHIB but other other Shibarium tokens as well.
In a recently published tweet, Shiba Inu’s official marketing lead Lucie spread the word about the plans of the SHIB team to conduct burns of not only SHIB but also of the other major tokens which are being used on Shibarium (including two new ones which have not been launched yet).
All this will be possible thanks to the new Sheboshis NFT collection.
Plans To Burn Shibarium Tokens
Lucie announced that the team plans to use the revenues from selling the new NFT collection Sheboshis for burning Shibarium native tokens – SHIB, BONE and the others too.
#Sheboshis are dedicated to the entire ecosystem! Whatever is not claimed by #Shiboshis will be offered to the public.
What are we doing with the proceeds?
We aren’t focusing this drop on making funds, and instead would love ALL the NFTs to be claimed. But in case some are… pic.twitter.com/yNFI3OC77Q
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) February 17, 2024
Those Sheboshis that will not be claimed by the holders of Shiboshis, will be sent to Uniswap to be sold.
All the revenue from those sales will be utilized by the SHIB team to burn tokens – 10% of the revenue.
6% of the funds will be used for burning SHIB, 1% for burning BONE, 1% for burning LEASH.
See Also: Shiba Inu Team Alerted Its Community On Upcoming SHEboshis NFT Launch
They will also set aside 1% of funds to burn TREAT and SHI in the future, when these tokens are launched.
As reported earlier, the lead developer of Shiba Inu, Shytoshi Kusama, objected to the suggestion of the SHIB community to burn BONE using gas fees collected on Shibarium.
This time, the decision to send not only SHIB to the unspendable wallets has been verified by the whole team and Kusama as well, since all the decisions within the team are made under his leadership.
Here’s Where The Remaining 50% Will Go
The team plans to set aside as much as 50% of the sellout proceeds, according to the tweet. The rest of it will be used for non-profits (10%), for the Foundation (15%) and 15% will go to the SHIB team.
The other 50%, Lucie stated, “will go towards the expenses and treasury.”
This will help the team to complete “the perpetually autonomous and fully decentralized ‘Network State’”, which is described in the Shib Paper.
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Disclaimer: The information provided is not trading advice, Bitcoinworld.co.in holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.