Gushiken Yona
Shiba Inu’s pseudonymous tech wizard, Kaal, has provided vital updates on the Shiba Inu burn mechanism that aims to reduce SHIB token supply. In a candid address to the community, Kaal dispelled doubts, confirmed the mechanism’s success, and revealed plans for even more efficient solutions integrated within Shibarium, the Layer-2 blockchain powering the ecosystem.
Kaal Confirms Ongoing Semi-Automated Shiba Inu Burn
Responding to community concerns on X (formerly Twitter) about the long-awaited auto-burn feature, Kaal revealed that a semi-automated burn mechanism has been operational for months. To date, over 300 million SHIB tokens have been burned, with Kaal himself initiating an 80-million SHIB burn very recently.
He also highlighted the addition of a burn animation, a unique feature designed to enhance community engagement and participation. Kaal reassured users that the burn mechanism would soon undergo maintenance to introduce a more cost-effective and efficient system directly integrated into Shibarium. This development reflects the team’s commitment to advancing deflationary tokenomics and scaling the ecosystem to meet long-term goals.
Debunking Misinformation: Kaal Takes a Stand
Kaal’s statements addressed criticisms directed at Shytoshi Kusama and the broader development team over delays in launching the auto-burn system initially slated for January 2023. Labeling the circulating claims as “misinformation,” Kaal encouraged the community to verify facts before jumping to conclusions.
“Before you start spreading misinformation, maybe do some research,” Kaal remarked, stressing the need for an informed dialogue. His candid response aims to foster trust and counter FUD (fear, uncertainty, and doubt) surrounding the project’s progress and objectives.
What’s Coming To Shiba Inu Burn
The Shiba Inu development team remains committed to empowering its community through initiatives like ShibTorch, launched in August. This interactive dashboard allows users to track and participate in SHIB burns.
Each transaction on Shibarium contributes base fees locked in a dedicated burn contract, while priority fees reward network validators. Users can trigger burns using accumulated BONE tokens, the governance and gas fee token of Shibarium, ensuring transparency and community involvement.
Kaal hinted at further advancements in Shibarium’s burn mechanism. “Soon, the burn will go into maintenance to introduce an even better, cheaper burn mechanism within Shibarium itself,” he shared. When asked for clarification, Kaal noted, “Cheaper and more efficient, but still burns on ETH. And yes, we are exploring CCIP to enhance this further.”
Shiba Inu’s Lead Designer, Dawa, described ShibTorch in August as a reflection of the team’s dedication to its community. “ShibTorch strengthens our ecosystem by reducing SHIB supply and empowering members to actively participate in the burn process. Together, we shape Shiba Inu’s future,” Dawa told The Shib Daily.
Read More
- ShibTorch Ignites: Community-Driven SHIB Burning Now Live on Shibarium
- Shibarium Hard Fork Coming Next Week – Key Upgrade to Boost Performance
- Shiba Eternity Web3 Tournament 5 Is Here And $BONE Is on the Line
Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.
