The popular meme coin Shiba Inu (SHIB) is on the eve of its big developments. Lead developer Shytoshi Kusama shared some details about how the team plans to allocate profits from the game Shiba Eternity. Meanwhile, new SHIB burning methods are coming up. Keep reading us for details.
Where half of Shiba Eternity profits will go
Lead developer Shytoshi Kusama recently shared some details on the official Shiba Inu Discord server about how the team plans to allocate profits from the game Shiba Eternity. According to Kusama, a percentage of all profits will be devoted to supporting a number of community-focused projects through a proprietary investment vehicle.
Specifically, these projects will need to use the Shibarium Blockchain to receive funding. In this way, the Shiba Inu team wants to accelerate the adoption of the layer-2 solution. But in some cases, projects won’t need to use Shibarium if it doesn’t fit their specific use case.
The team will allocate funds for an event run by the community through Doggy Dao. Users will vote in hopes of getting the Bone ShibaSwap (BONE) token. Meanwhile, as Kusama explains, the exact percentage of Shiba Eternity profits that will be allocated to different projects will vary from month to month. However, it will not be less than 45% of all monthly profits.
cryptocoin.com As you follow, the Shiba Inu team will also devote about 5% of all profits to burning tokens. Thus, it will reduce the total circulating supply of the token. In this way, the team plans to increase the scarcity of the token.
But what about the other 50% of the profit?
Kusama says it’s actually a trade secret. Hence, he states that he will not reveal where the other half of the profits will go. The Shiba Inu team will not disclose such information to compete with competitors like Hearthstone.
Half a billion SHIB went to dead wallets last week, but…
According to the Shibburn Twitter account, 563,864,006 SHIB (563 million) tokens have gone to patch wallets in more than 54 transactions in the past seven days. However, this remains a small amount compared to past months, when more than 1 billion SHIBs were burned in one week.
In the last 7 days, there have been a total of 563,864,006 $SHIB tokens burned and 54 transactions. #shibarmy
— Shibburn (@shibburn) October 2, 2022
According to SHIB BPP, a Shiba Inu community-focused Twitter account, a meager 1,743,878,414 (1.7 billion) SHIBs went to the burn wallet in September. In the last 24 hours, Shibburn reported that a total of 57,303,824 SHIB tokens had been burned in five transactions. Also, the Shibburn tracker reported that 10,010,085 SHIB went to dead wallets. Also, 999,265 SHIB tokens went to the burn wallet in a single transaction.
Despite the number of tokens going to dead wallets in the last hours, the Shiba Inu burn rate was 73.92% at the time of writing. This means a decrease compared to previous rates. This is due to the fact that token burning through the Shibburn initiative is not what it used to be. In the final days of last week, as low as 6 million tokens were burned. But experts say that doesn’t mean a drop in interest in burning the SHIB.
I want to talk about $SHIB, but you already know about them burning and the eco-system.
— David Gokhshtein (@davidgokhshtein) September 25, 2022
New SHIB burning methods emerge
Meanwhile, the community continues to find new ways to burn tokens. Shytoshi Kusama recently announced that 5% of the profits from the new Shiba Eternity game will be burned. Also, the community expects the upcoming Shibarium to play an important role in the burning of SHIB as well.
8.4 billion $SHIB has now been burned from Shiboshi name changes 🔥🔥
— $SHIB BPP (@ShibBPP) September 27, 2022
Likewise, renaming the SHIB metaverse lands is another method that is expected to burn SHIB. According to reports, now 8.4 billion SHIB has gone from the Shiboshi name changes to the burn wallet.
