Shiba Inu (SHIB) team provided the necessary details about the trending reward token RYOSHI. Following the distribution of rewards to Shiba Inu holders who participated in the official SHIB burning portal, the project team revealed everything the community needs to know about the reward token Ryoshi Vision (RYOSHI). Here are the details…
Shiba Inu explained what you need to know about RYOSHI
Kriptokoin.com , named after the pseudonymous founder of the Shiba Inu project. RYOSHI was announced on August 7, 2021 as part of efforts to reward community members. The press release highlights RYOSHI’s three goals which include:
Build community-based initiatives and projects for public services aligned with their core values, incentivizing holders through deflationary tokens and the established burn mechanism. Encourage the community to vote and participate in the decision-making process (DAO) of the project.
Cryptocurrency developer Wifey has ensured that no units of the cryptocurrency are allocated to Shiba Inu team members to honor Ryoshi’s vision. Unlike other cryptocurrencies that pre-sell to raise funds, the ERC-20 token debuted with a flat launch. With the SHIB team, which focuses on rewarding SHIBArmy members, investors are rewarded according to their activities in the project.
The purpose of RYOSHI tokens: Deflation
To achieve this achievement, 1% of all RYOSHI transactions are distributed to xSHIB holders. Similarly, the developer used deflationary techniques to ensure that the token’s value increases steadily over the long term. According to the Shiba Inu team, at least 1 percent is deducted from the supply for every transaction, including buying, selling and bartering. Notably, the team also noted that it burned half of RYOSHI’s supply at launch last year to further increase its value. It is noteworthy that the Shiba Inu team burned 100 percent of the RYOSHI tokens that make the cryptocurrency safe to invest in.
Alongside this move, 50 percent of RYOSHI’s circulating supply was also burned during the token’s launch last year. According to the announcement, the wallet to which the burnt RYOSHI tokens were sent now holds more than 50 percent of Ryoshi Vision’s total supply. Meanwhile, the cryptocurrency is designed to mitigate the impact of bots through the use of smart contracts. In particular, RYOSHI’s smart contract is equipped with coded protection to prevent bots. With this, each wallet is allowed to make one transaction per block, making it harder for whales to manipulate the RYOSHI price.
