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What’s Wrong with SHIB Burn Portal? Shiba Inu Team Addresses Delays

Sun, 07/24/2022 - 10:58
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Alex Dovbnya
It remains unclear what exactly is causing the delays that caused frustration within the community
What’s Wrong with SHIB Burn Portal? Shiba Inu Team Addresses Delays
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The Shiba Inu team has published an update regarding the SHIB burn portal, which is powered by Ryoshi Vision.

The blog post says that the community has grown increasingly frustrated with delays in distrusting rewards. Those who chose to burn the token are being paid in a “very slow manner.”   “The fluidity of rewards is under-performing,” the team says.

The Shiba Inu team has urged Ryoshi Vision to “provide better communication and transparency.”

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Ryoshi Vision, an ERC20 token, was named after the pseudonymous creator of the Shiba Inu project. It is worth noting that the cryptocurrency is not part of the Shiba Inu ecosystem.  

The SHIB burn portal was designed to reward users who choose to permanently remove tokens from circulating with passive income in the form of RYOSHI tokens. Close to half a percent of all transactions are supposed to be distributed to SHIB-burning users.

Tens of billions of SHIB tokens have been burned since the introduction of the portal that had the community backing back in April. However, the portal has been plagued with delays.    
Ryoshi Vision has addressed the situation in a recent Twitter thread, apologizing for the “inconvenience and frustration.” The project claims that it will offer a more detailed explanation in the future.

Still, many users didn’t buy the explanation, accusing the team of dragging its feet on paying the promised rewards. “The burn portal is a complete scam,” a Shiba Inu fan tweeted.    

The Shiba Inu community has been focusing on burning SHIB tokens for a long period of time.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at