Shiba Inu Developer Unveils New LEASH v2 Migration Strategy

In Brief

• Ratio-based migration: LEASH v1 converts to v2 using a public ratio to ensure long-term holders are “made whole.”
• Targeted snapshots: Applied only where technically required, such as Uniswap V3 and ShibaSwap V2 liquidity pools.
• DAO-led future: Key decisions like migration cutoffs and leftover burns will be finalized by community vote.

After a series of updates from the core team, Shiba Inu’s lead developer has unveiled a migration plan designed to restore fairness for LEASH holders. The strategy combines a ratio-based conversion with targeted snapshots, aiming to protect long-term investors and chart a path out of the rebase controversy.

In his latest blog post published Friday, lead developer Kaal Dhairya addressed the challenges posed by LEASH v1’s unexpected rebases, which continue to affect the token’s supply. “Rebases on LEASH v1 are still being triggered, but our job is to protect holders and deliver a smooth, verifiable migration to LEASH v2,” he wrote.

A Hybrid Model for Fairness

At the core of the plan is a “holder-equivalence” model. Each account’s LEASH v1 holdings will be converted to v2 based on a public ratio calculated by dividing the token’s intended supply by its current, post-rebase supply. 

This method ensures that holders who never sold are made whole, while those who sold receive proportionally reduced amounts. “Held = whole. Sold = reduced. Sold out = zero (unless you rebuy),” Dhairya explained.

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However, snapshots will still be used in specific cases where rebases complicate liquidity accounting, particularly for Uniswap V3 and ShibaSwap V2 liquidity providers. Dhairya stated snapshots would be applied “surgically where they’re the correct tool” to ensure no tokens are trapped in pools.

Exchange Cooperation Still Uncertain

Centralized exchanges remain a key variable. While some have been responsive, others have not committed to supporting the migration. 

“Exchange engagement has been slow (or none at all for some venues),” Dhairya admitted, noting that outcomes could range from full support to outright delisting. Crypto.com and Gate.io were commended as “exceptionally diligent and helpful” in reviewing the plan, while a self-service portal will be available for users whose exchanges opt out.

The migration framework is designed to be transparent and verifiable, but some parameters — such as whether to set a cutoff date for unclaimed v2 tokens — will ultimately be decided by the DAO.

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Dhairya emphasized that the approach “honors long-term holders, naturally reduces sellers, remains auditable, and gives venues a viable way to support you.”

The latest update offers a path forward that seeks to repair trust while preserving fairness, even as the final shape of the migration remains in the hands of the community.

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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.

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Yona has no crypto positions and holds no crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is the official 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.

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