Shiba Inu Development Team Leader Clarifies Misunderstandings About SHIB Burn

Shytoshi Kusama has recently addressed misconceptions regarding the SHIB burning mechanism, helping the Shiba Inu community gain a clearer understanding. Through interactions on the X social media platform, Kusama has explained how token burning works within the ecosystem, while also sharing details about his busy work schedule. Clarifying the SHIB Burn Mechanism In a recent exchange with a community member on X, Kusama misunderstood the relationship between the project's treasury and burning SHIB. A community member speculated that adding the BONE token to the Treasury would directly lead to burning more SHIB. Kusama clarified that this assumption is incorrect, emphasizing that tokens, as a decentralized cryptocurrency, do not operate in this way. Kusama emphasizes that token burning is driven by utility and transaction volume on Shibarium, the project's Layer-2 blockchain network. He declares that his efforts are focused on forming strategic partnerships to enhance the adoption and operation of Shibarium. According to Kusama, more partners and retailers using Shibarium naturally lead to more burning events, as transaction fees also contribute to the burning process.

Increase Burn Rate Recent data from Shibburn, an asset burning activity tracker, shows a significant increase in the burn rate. The report shows that within 24 hours, 4,851,105 SHIB tokens have been permanently removed from circulation, reflecting a staggering increase of 135%. Weekly data also shows an increasing trend, with 203,001,453 SHIB tokens burned, up more than 56% compared to previous periods. These numbers demonstrate the importance of continuous operation on Shibarium, as the trading volume directly affects the speed of burning SHIB tokens. The research team always emphasizes that applicability and higher utility are the main driving forces of this process. Kusama's Participation with the Community During the same discussion, Kusama revealed details of his packed work schedule, citing working 20-hour days for weeks at a time to manage community engagement, answer questions, and oversee project development. Kusama's participation extends to partner negotiations, which he considers crucial to enhance the utility of the ecosystem. While some community members have expressed concerns about the project's direction, Kusama's response reflects a broader strategy to strengthen Shibarium and promote long-term growth for the ecosystem.