Gushiken Yona
Shiba Inuās 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 mechanismās 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.Ā
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 teamās commitment to advancing deflationary tokenomics and scaling the ecosystem to meet long-term goals.
Debunking Misinformation: Kaal Takes a Stand
Kaalās 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.
Related: Shytoshi Kusama Schedules New Livestream Following Inaugural Broadcast
“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 projectās 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.
Related: What Now Shibarium? Buterin Rips Up L2s, Calls For a ‘New Path’ Beyond Lazy Chains
Kaal hinted at further advancements in Shibariumās burn mechanism. āSoon, the burn will go into maintenance to introduce an even better, cheaper burn mechanism within Shibarium itself,ā he shared. When asked for clarification, Kaal noted, āCheaper and more efficient, but still burns on ETH. And yes, we are exploring CCIP to enhance this further.ā
Shiba Inuās Lead Designer, Dawa, described ShibTorch in August as a reflection of the teamās dedication to its community. āShibTorch strengthens our ecosystem by reducing SHIB supply and empowering members to actively participate in the burn process. Together, we shape Shiba Inuās future,ā Dawa told The Shib Daily.
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YONA GUSHIKEN
Yona brings a decade of experience covering gaming, tech, and blockchain news. As one of the few women in crypto journalism, her mission is to demystify complex technical subjects for a wider audience. Her work blends professional insight with engaging narratives, aiming to educate and entertain.
