SHIB Team Plans to Burn BONE and All Other Top Shibarium Tokens: Details

Shiba Inu team plans to start conduct a burn of not only SHIB but other other Shibarium tokens as well

In a recently published tweet, Shiba Inu’s official marketing lead Lucie spread the word about the plans of the SHIB team to conduct burns of not only SHIB but also of the other major tokens which are being used on Shibarium (including two new ones which have not been launched 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 revenues from selling the new NFT collection Sheboshis for burning Shibarium native tokens – SHIB, BONE and the others too.

Those Sheboshis that will not be claimed by the holders of Shiboshis, will be sent to Uniswap to be sold. All the revenue from those sales will be utilized by the SHIB team to burn tokens – 10% of the revenue.

6% of the funds will be used for burning SHIB, 1% for burning BONE, 1% for burning LEASH. They will also set aside 1% of funds to burn TREAT and SHI in the future, when these tokens are launched.

As reported by U.Today earlier, the lead developer of Shiba Inu, Shytoshi Kusama, objected to the suggestion of the SHIB community to burn BONE using gas fees collected on Shibarium. This time, the decision to send not only SHIB to the unspendable wallets has been verified by the whole team and Kusama as well, since all the decisions within the team are made under his leadership.

Here’s where the remaining 50% will go

The team plans to set aside as much as 50% of the sellout proceeds, according to the tweet. The rest of it will be used for non-profits (10%), for the Foundation (15%) and 15% will go to the SHIB team.

The other 50%, Lucie stated, “will go towards the expenses and treasury.” This will help the team to complete “the perpetually autonomous and fully decentralized “Network State”, which is described in the Shib Paper.

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Yuri Molchan

Yuri is interested in technology and technical innovations. He has been writing about DLT and crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. He has written for multiple crypto media outlets.

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