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Shiba Inu’s marketing team leader Lucie recently shared details about the team’s comprehensive plan for SHIB token burns. The initiative is primarily based on SHIB, and includes two new tokens not yet on the market, as well as other major tokens within the Shibarium ecosystem. This move is seen as part of a plan that includes the sale of a new NFT collection called Sheboshis, which will provide financial support for the token burning program.
Shibarium and New Burns
According to the Shiba Inu team, revenue from the sale of the Sheboshis NFT collection will be used to burn local tokens of Shibarium, including SHIB and BONE.
What makes this plan unique is that the Sheboshis not requested by Shiboshi owners will be put up for sale on Uniswap, and all proceeds will be dedicated to token burning.
As clearly stated in the announcement, 10% of the revenue from these sales will be used for this purpose. Additionally, the rate is 6% for SHIB, and 1% each for BONE and LEASH. No full explanation was provided for the upcoming TREAT and SHI tokens.
This decision, which is not limited to burning SHIB alone but also includes other tokens, points to a significant strategic move supported by Shiba Inu’s lead developer Shytoshi Kusama.
The community had previously suggested using gas fees associated with BONE for burning processes. However, the team led by Kusama chose a different, more inclusive approach to create a broader impact on the Shibarium ecosystem.
NFT Sales and Revenue Distribution
The distribution of revenue from NFT sales presents a well-thought-out plan for shaping the future of the Shiba Inu project and community. 50% of the sales proceeds will be allocated for token burning and similar activities, while different plans are being made for the use of the remaining funds.
It is mentioned that 10% of the remaining 50% will be transferred to non-profit organizations, highlighting the team’s approach to social responsibility. Additionally, 15% of the funds will be allocated to the Foundation to support the infrastructure and operational side of the Shiba Inu project.
Moreover, the last remaining 15% will be distributed to the SHIB team, ensuring that the individuals driving the project receive adequate compensation.
