Shiba Inu Initiates Token Burn Program
Shiba Inu’s marketing lead, Lucie, recently announced the team’s plan to initiate a comprehensive token burn program. This program targets SHIB and other major tokens used within the Shibarium ecosystem. As part of this initiative, the team will be selling a new NFT collection called Sheboshis, with the revenue generated from the sales dedicated to token burning.
New Burning Approach Adopted by Shibarium
The Shiba Inu team has decided to allocate the revenue generated from the sale of the Sheboshis NFT collection towards burning several Shibarium native tokens, including SHIB and BONE. The unique aspect of this plan is that unclaimed Sheboshis will be sold on Uniswap, with all proceeds going towards token burning. Specifically, 10% of the revenue will be used for this purpose, with detailed allocations for different tokens.
Shiba Inu NFT Sales to Fuel Token Burns
The revenue allocation from the NFT sales will support various aspects of the Shiba Inu project and its community. 50% of the proceeds will go towards token burning and related activities. Additionally, a portion of the revenue will be allocated to non-profit organizations and the Foundation to strengthen infrastructure and operational capabilities. The remaining funds will compensate and motivate the SHIB team, while also covering expenses and contributing to the project’s treasury.
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