The Shiba Inu (SHIB) team is exploring new horizons with the launch of its latest NFT collection called ‘SHEboshis’. This collection is unique because it incorporates the ERC-404 token standard, which combines the features of ERC-721 and ERC-20 token standards. The team is excited about the untapped potential of ERC-404 and its ability to make NFTs more liquid and promote fractionalization. The SHEboshis NFTs are minted on the Ethereum network, leveraging its liquidity, but the team plans to bridge them to Shibarium in the future. Additionally, there was a bug that allowed for additional minting, so the team increased the total SHEboshis from 12,000 to 20,000 to compensate for those who couldn’t claim their NFTs.
Furthermore, Shiba Inu developer Kaal Dhairya shared how the team intends to allocate proceeds from unexpected sales resulting from the bug. They generated 652 ETH from these sales, and 50% of the revenue will be used for token burns, charity donations, team expenses, and liquidity provision for the NFT project. Token burns will strategically reduce the supply of SHIB, LEASH, TREAT, and SHI to add value for token holders. The team will also contribute to support efforts in Japan and donate to non-profits like the Manny Pacquiao Foundation and Women in Blockchain. The remaining 50% of revenue will be allocated towards operational expenses and the team’s treasury.
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