Lead Developer Says Goal is to Burn Trillions of Shiba inu With Shibarium
Shytoshi Kusama recently made this revelation while responding to an inquiry from a community member.
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Shytoshi Kusama, the lead Shiba inu developer, recently confirmed that one of the development team’s goals is to burn trillions of Shiba inu (Shib) tokens with Shibarium, the much-anticipated upcoming layer-2 solution. This disclosure has significantly increased the hype around Shibarium, as token burns remain a primary concern of the community.
Kusama made the revelation in the community discord channel while responding to a recent inquiry from a member. “Will trillions of coins be burned from it,” the anonymous fellow asked, to which Kusama answered, “that’s the goal bud.”
The exciting disclosure was further brought to public attention by ShibaSpain, an anonymous Spanish-based Shiba inu community member on Twitter. ShibaSpain had always propagated claims that Shibarium would burn trillions of tokens at its full force. This confirmation brings credibility to the claims.
The Shiba inu burn initiative is one of the foremost concerns among Shib investors, as it is aimed at drastically reducing the asset’s total supply so as to provide ample support for its price movements. Due to its significance, projects and proponents alike have championed the movement, leading to a cumulative burn of 410.3 trillion tokens so far, 41% of its initial supply.
Though the burns remain sustained, the community seeks measures to expedite them, and Shibarium promises to do this. The official Shibarium Twitter handle officially confirmed on January 7 that each transaction on Shibarium will burn Shib. Moreover, the Shib development team announced plans to launch a burn portal specifically for Shibarium in a January 15 article.
Shibarium to Attract More Development
Besides its promise of burns, Shibarium has a more robust offering for the project, as confirmed by the development team and Shytoshi Kusama. Kusama also revealed that projects such as Ufo, Mbet, VXL and F9 are likely to start using Shibarium when it launches. He noted that this is essentially the point of developing the layer-2 solution.
‘I’m looking forward to when more investors begin to understand what for since the beginnings I have called the “ecosystem” and “satellite” tokens,’ NastyShib, a Shib influencer, remarked, speaking on Kusama’s comments. According to them, the Shiba inu ecosystem will attract more developments when Shibarium launches, leading to “larger and smaller branches”, with Shib serving as the roots, and Shibarium, as the trunk.
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