Main navigation

SHIB Lead Dev Explains How Entire SHIB Supply Can Be Burned

Wed, 09/14/2022 - 17:00
article image
Yuri Molchan
Shytoshi Kusama has shared plan that SHIB army needs to follow to burn SHIB supply
SHIB Lead Dev Explains How Entire SHIB Supply Can Be Burned
Cover image via stock.adobe.com

Disclaimer: The opinion expressed here is not investment advice – it is provided for informational purposes only. It does not necessarily reflect the opinion of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. We do not recommend investing money you cannot afford to lose.

Read U.TODAY on
Google News
Contents

The lead developer of Shiba Inu, pseudonymous Shytoshi Kusama, has given an emotional response to SHIB fans who claimed that he had done nothing to burn the remaining supply of SHIB.

Here's the eye-opener Kusama gave them.

"We don't control SHIB supply"

These two users, JEF SHIBA INU SOLDIER and johnarrow hawkfeather, accused Kusama of doing nothing but making promises about burning the rest of the SHIB supply, comparing him to Brazilian politicians, whom they are apparently not fond of.

Shytoshi then responded that neither he nor the whole SHIB community own the entire Shiba Inu supply that is currently circulating out there. In order to burn the remains of the supply, the community needs to buy it, the developer stated.

Then he asked them to leave him alone, "stop yelling" at him and let him do his job. Then, in a follow-up comment, Kusama tweeted that Shibarium is the key for burning the remaining SHIB in circulation.

Related
Shiba Inu-Dogecoin-Led Meme Economy Sees 16% Jump in Trading Volumes Amid Market Drop

Buying SHIB to burn it later

At the moment, SHIB devs are building Shibarium Layer 2, where the SHIB Metaverse and SHIB-based stablecoin SHI will be launched when ready; all of these are in the works at the moment.

As for purchasing SHIB for burning, several projects are doing it already, using profits from in-game advertisements. Aside from games, Travis Johnson uses the commission from his Amazon affiliate program and other sources of profits to buy SHIB and burn it on a weekly basi

article image
About the author

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

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.