Shiba Inu Launches SHIB Burning Portal

Shiba Inu enters into top 20

Shiba Inu (SHIB) has introduced a burning portal. Holders can now permanently destroy their tokens,Reducing circulation supply while generating passive income at the same time.

Developed a new mechanism for passive income and burning of Shiba Inu tokens inspired by Doge-Coin.

The SHIB Burning Portal

The Shiba Inu burning portal, a mechanism that sends SHIBA tokens to the burning adress . Once the tokens are sent there, they will never come back. the aim is to reduce the circulating supply a scarce asset tends to be more preferred compared to one with unlimited supply or with considerable rates of inflation. Of course, all of this is entirely theoretical, and there’s nothing guaranteed.

The Incentives Behind the Portal


It will provide a passive income by giving token rewards to users who decide to burn tokens. Those who burn SHIB will receive burntSHIB tokens.The owners of the latter will receive rewards in RYOSHI tokens.

RYOSHI,(RYOSHI is the anonymous creator of the Shiba Inu project). 0.49% of all RYOSHI transactions will be distributed to the owners of burntSHIB tokens.

Related : SHIBA INU Soars as New details about the SHIB Metaverse emerges

About Hama Amefiz

Amefiz is a professional blockchain, cryptocurrency and tech journalist, regular contributor to newsbsc.com who is writing analysis about the latest developments in the cryptocurrency and blockchain space.

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