The vibrant Shiba Inu (SHIB) community is abuzz with the recent unveiling of its roadmap, showcasing enticing projects like WOOFVertise, SHY Mode, and the highly anticipated Shib.io Metaverse. While the roadmap ignited enthusiasm, some members expressed concerns regarding the lack of large-scale SHIB burns, a long-standing debate among investors.
Circulating Supply Woes And Burning Desires
A major critique surrounding SHIB has been its high circulating supply. Holders believe that sending a significant amount of tokens to a “burn address” – essentially removing them from circulation – could significantly boost the token’s value. While the new roadmap is exciting, it reignited these concerns, with some community members urging increased burning to elevate their investments.
Kusama Emphasizes Long-Term Vision Over Short-Term Fixes
Shytoshi Kusama, SHIB’s lead developer, swiftly addressed these issues. Responding to a disgruntled user, Kusama emphasized the difference between temporary “band-aid” solutions and a long-term strategy for supply reduction. He likened small burns to lighting a candle – offering fleeting relief – while comparing large-scale burns to intricate yet powerful “nuclear fusion,” a process requiring meticulous planning and execution.
Kusama’s response reflects the ecosystem’s prioritization of long-term supply reduction over short-term fixes. This approach aims to ensure sustainable growth for the token, shunning tactics that might deliver fleeting gains.
Shiba Inu Team Committed to Supply Reduction
Despite community concerns, the Shiba Inu team remains committed to burning SHIB tokens and minimizing circulating supply. Shibarium, a key project within the ecosystem, significantly contributes to these efforts. According to Shibburn, the team has already burned over 410.7 trillion SHIB, a testament to their dedication.
Shibarium is a major contributor to SHIB burns, facilitating the elimination of over 56 billion SHIB tokens through gas fees. Recently, the team incorporated an automated SHIB burning mechanism within Shibarium. This mechanism burns a portion of the transaction fee automatically.
Also Read: Shiba Inu’s (SHIB) Shibarium Burn Portal Aims To Rival Dogecoin’s Market Cap
With Shibarium’s anticipated growth, the demand for BONE tokens (used for transactions within the network) is expected to rise. Notably, 70% of the network’s base fees paid in BONE will be automatically converted to burn SHIB. This brilliant mechanism links SHIB burning to Shibarium’s growth and utilization, creating a sustainable and scalable solution for addressing the high circulating supply.
The Shiba Inu roadmap offers a glimpse into a future brimming with innovative projects. However, the community’s desire for larger-scale SHIB burns remains a point of contention. Kusama’s response highlights the team’s focus on long-term solutions. Moving forward, navigating community demands while fostering sustainable growth will be crucial for the continued success of the Shiba Inu ecosystem.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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