Shiba Inu project team to introduce auto burn Protocol
The team behind the Shiba Inu Project team is working to introduce a protocol to reduce the supply of Shiba Inu tokens in the market.
Shiba Inu coin is a popular meme coin after Dogecoin. This coin is standing at 14th rank, just after Dogecoin, by 24 hours trading volume. In reality, this coin has no significant use case but still has huge popularity in the crypto industry just like a flagship Digital asset.
Archangel, a member of the Shiba Inu project team, recently appeared in the Ask Me Anything (AMA) session on social media with Watcher Guru. In the AMA session, he revealed that the team is working to introduce auto-burning protocol for Shiba inu tokens.
Archangel confirmed that the new protocol will be released in the latest new release of ShibaSwap, Shiba Inu decentralized exchange.
The Executive also noted that such efforts are made to increase the use cases of Dex and also to reduce the supply of Shiba Inu tokens slowly.
“We want to make the burn rate grow with the utilization rate of the platform. So if you think about it, this is kind of the new utility. It’s about getting the supply slowly reduced as you use the platform.”
Shiba Inu project member also suggested that ShibaArmy should not think that more than 90% of the Shiba Inu token supply will burn. In this way, he hinted that the maximum 90% supply of Shiba Inu tokens will burn, and later it will not be a better option for the project’s future. In the present time, Shiba Inu supporters and the project team helped to burn a total of 41% of the supply.
Shiba Inu moving toward the non-meme category
However, the origin of the Shiba Inu token is nothing and also has no use case but the team behind this project is using the popularity of Shiba Inu coin and they are working to make this project a flagship asset.
In particular, Shiberse, Metaverse based virtual land project, is under development. And also the team is working to launch the Shiba Inu project inclined game. Besides these things, they are working to make a Shibarium network, where the $BONE token will be a native token and also will include the use case of the Shiba Inu token.
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