In a recently posted tweet, Shiba Inu’s official marketing lead Lucie spread the word about the SHIB team’s plans to conduct burns of not only SHIB but also other major tokens being used on Shibarium (including two new ones that haven’t been released yet).
In a recently posted tweet, Shiba Inu’s official marketing lead Lucie spread the word about the SHIB team’s plans to conduct burns of not only SHIB but also other major tokens being used on Shibarium (including two new ones that haven’t been released yet).
All this will be possible thanks to the new Sheboshis NFT collection.
Plans to burn Shibarium tokens
Lucie announced that the team plans to use the proceeds from the sale of the new Sheboshis NFT collection to burn native Shibarium tokens: SHIB, BONE and others as well.
Those Sheboshis that are not claimed by Shiboshi holders will be sent to Uniswap for sale. The SHIB team will use all proceeds from those sales to burn tokens – 10% of the proceeds.
6% of the funds will be used to burn SHIB, 1% to burn BONE, and 1% to burn LEASH. They will also reserve 1% of the funds to burn TREAT and SHI in the future, when these tokens are launched.
As Guru-Investingpreviously reported, Shiba Inu lead developer Shytoshi Kusama opposed the SHIB community’s suggestion to burn BONE using gas fees collected on Shibarium. This time, the decision to send not only SHIB to non-fungible wallets has been verified by the entire team and also by Kusama, as all decisions within the team are made under his leadership.
This is where the remaining 50% will go
The team plans to reserve up to 50% of the proceeds from the sale, according to the tweet. The rest will go to non-profit organizations (10%), the Foundation (15%) and 15% will go to the SHIB team.
The other 50%, Lucie stated, “will go to expenses and treasury.” This will help the team complete “the perpetually autonomous and fully decentralized “Network State,” which is outlined in the Shib document.
