Lucie, the marketing leader for Shiba Inu, has unveiled a strategic plan to initiate a token burn that encompasses several currencies, including two yet-to-launch tokens, within the Shibarium ecosystem. This approach is part of a broader scheme that involves launching a new NFT collection known as Sheboshis, with the intent of financially backing the token burn agenda.
Shibarium’s Monetary Mechanism for Token Reduction
The Shiba Inu team intends to fund the token burning by selling the Sheboshis NFT collection, targeting the incineration of Shibarium’s primary tokens such as SHIB and BONE. They have crafted a distinct strategy where unsold Sheboshis, unclaimed by Shiboshi holders, will be offered on Uniswap, with all sales revenue dedicated to the reduction of token supply.
The announcement details that 10% of the Uniswap sales will go towards the token burn, breaking it down to 6% for SHIB and 1% each for BONE and LEASH. The team has not fully explained the mechanisms for the impending TREAT and SHI tokens. Shiba Inu’s lead developer, Shytoshi Kusama, is backing this multifaceted approach which extends beyond SHIB and encompasses several tokens within the ecosystem.
Despite community suggestions to use BONE’s gas fees for token burning, Kusama’s team has opted for a holistic method intended to make a more substantial impact on Shibarium.
Allocation of NFT Profits and Community Development
The strategic distribution of NFT sales revenue signals a comprehensive plan to sculpt the trajectory of the Shiba Inu project and its community. Half of the sales revenue is earmarked for token burning and related activities, while the other half is subject to various utilization plans.
The team has allocated 10% of the latter 50% to charities, underscoring their commitment to social responsibility. An additional 15% will bolster the Foundation’s support for Shiba Inu’s infrastructure and operations, with the remaining 15% rewarding the SHIB team for their continued efforts in driving the project’s progress.