Lucie Introduces Shiba Inu’s Token Burn Strategy
Lucie, a popular marketing influencer for Shiba Inu, has announced a new token burn structure aimed at enhancing the value of the ecosystem. This innovative burn scheme involves using funds from the upcoming Sheboshi Non-fungible token (NFT) drops to burn four flagship tokens of Shiba Inu and two upcoming tokens.
Shiba Inu Unveils Extensive Token Burn Strategy
In a recent post on X (formerly Twitter), Lucie disclosed a comprehensive plan to dedicate a significant portion of the proceeds from the Sheboshi NFT project to conduct a token burn. The Sheboshis are a unique collection of NFTs that combine traits from the successful ERC-20 and ERC-721 protocols on the Ethereum network. These NFTs are counterparts to the original Shiboshi NFT collection released in October 2021.
The primary goal of the Sheboshi NFTs is to increase engagement and strengthen the community. Lucie has stated that while financial gains are not the objective, there is a possibility of selling the NFTs. To support this initiative, Shiba Inu plans to allocate 10% of the NFT funds to token burns.
Token Burning Allocation
Out of the 10% allocation for token burns, 6% will be used to burn Shiba Inu’s primary native token, SHIB. Additionally, 1% will be dedicated to burning Shibaswap (BONE) tokens, and another 1% will be allocated for incinerating Doge Killer (LEASH) tokens. The remaining 2% will be directed towards burning upcoming Shiba Inu tokens, TREAT and SHI.
Shiba Inu Gives Back to the Public
Lucie’s strategic initiative involves distributing 40% of the proceeds from the Sheboshi NFT drop to the general public. Furthermore, 10% of the NFT proceeds will be used to support non-profit organizations and ventures.
The funds will be divided among four distinct entities: 2% for Women in Blockchain, 2% for the Manny Pacquiao Foundation, 3% for initiatives in Japan, and 3% to be determined by Shibdentity Enabled DAO.
Investing in the Ecosystem
In addition to supporting the public and non-profit initiatives, 15% of the proceeds will be invested in the “foundation” and revealed at the launch of Shibdentity-enabled DAO. The SHIB team will also receive 15% of the NFT drop funds.
The remaining 50% of the NFT drop funds will be allocated to cover the ecosystem’s expenses and treasury, actively supporting ongoing initiatives and developments.
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