Millions Of SHIB To Be Distributed To Certain Shiba Inu Holders By This Project: Details

The Shiba Inu community is abuzz with excitement following the recent upgrade to the ShibaPunkz decentralized application (dApp). This pivotal development presents a lucrative opportunity for enthusiasts to earn significant rewards in SHIB and LEASH tokens.

Lucie (@LucieSHIB), a SHIB ecosystem marketing official, shared the news on X, stating that over the next four months, a staggering 85 million SHIB and 2 LEASH tokens will be distributed to stakers, marking a significant shift in the platform’s reward structure.

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ShibaPunkz Revamps Staking Incentives

Previously, ShibaPunkz rewarded stake participation with its native SPUNK token. However, the latest upgrade pivots toward rewarding users with SHIB and LEASH tokens. These tokens have more demand within the Shiba Inu ecosystem, and this move offers stakers a compelling incentive to lock in their holdings.

The concept of staking has become an integral part of the cryptocurrency landscape, providing investors with a streamlined approach to generating passive income.

By depositing their digital assets into dedicated staking pools, individuals contribute to the security and stability of the underlying blockchain networks while receiving tokenized rewards in return.

In the context of Shiba Inu (SHIB), staking through ShibaPunkz helps strengthen the ecosystem while rewarding participants for their loyalty.

Over 22 Million BONE Staked On Shibarium

The dedicated L2 blockchain solution for Shiba Inu which was relaunched in late August last year has further invigorated the community’s staking enthusiasm. The data shows impressive figures, with over 22.6 million BONE tokens already staked on the platform.

This widespread adoption speaks volumes about the community’s confidence in Shibarium’s potential to revolutionize the Shiba Inu ecosystem and the rest of the crypto industry.

Read Also: We Asked ChatGPT if Shiba Inu (SHIB) Can Flip Dogecoin (DOGE) in 2024. Here’s What It Said

Poor Price Reaction

Despite the positive news of enhanced staking rewards and Shibarium’s progress being undoubtedly positive, broader market dynamics continue to influence the price of SHIB and LEASH.

SHIB is currently trading at $0.000009188, down 3.82% in 24 hours, and is still unable to reclaim $0.00001. LEASH has also dropped in the last 24 hours, showing a 1.23% decline and trading at $296.92.

However, Shibarium’s evolution has not slowed down. With the coming automated burn portal, SHIB might finally start reacting to Shibarium developments as the Shibarium-powered burns kick into high gear.

As the community expands and Shibarium gains traction, we can anticipate greater adoption of staking strategies and more opportunities for investors within the SHIB ecosystem.

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