Shiba Inu’s marketing team leader Lucie recently shared details about the team’s extensive plan for SHIB token burns. The initiative is primarily based on SHIB, and includes other major tokens within the Shibarium ecosystem, even those not yet on the market. This move is part of a plan that also involves the sale of a new NFT collection called Sheboshis, which will provide financial support for the token burn 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 Shibarium native tokens, including SHIB and BONE.
What makes this plan unique is that Sheboshis not claimed by their owners will be put up for sale on Uniswap, with all proceeds dedicated to token burning.
As clearly stated in the announcement, 10% of the sales revenue will be allocated for this purpose. Additionally, the rate is set at 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, indicates 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 path, opting for a 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, with different plans for the use of the remaining funds.
It was 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 set aside for the Foundation to support the infrastructure and operational side of the Shiba Inu project.
Moreover, the final 15% of the remaining funds will be distributed to the SHIB team, ensuring fair compensation for those driving the project.
