Since Ryoshis Vision started the distribution of Rewards to Shiba Inu community members, who burned SHIB tokens via the burn portal, there has been a massive increase in the number of SHIB tokens burned on a daily basis.
According to the number on the SHIB burn portal, over 50 billion SHIB tokens have been destroyed since the project was launched on the 23rd of April 2022.
Read Also: Ethereum Whale Gimli Scoops Up another 110 Billion Shiba Inu Tokens worth $3.6 Million
Ryoshis Vision Reward Distribution Boosts Community Trust in the Burn initiative
In a tweet on 17th May 2022, Ryoshis Vision announced that the first distribution of ShibaBurn rewards has been rolled out. The report says only those who burned SHIB tokens via the burn portal and are holding $burntSHIB are being rewarded with RYOSHI
Ryoshi Vision announced:
“The first distribution of ShibaBurn Rewards are out now. For those who burned $SHIB trough the burn portal and are holding $burntSHIB your rewards are available now.”
Immediately after the announcement members of the Shiba community started burning SHIB tokens in billions to earn passive income. The massive increase in SHIB burn after the announcement shows that the community’s trust in the burn initiative has significantly increased.
Read Also: 26.1 Billion SHIB Burned In April, Shiba Inu Community Says This Is Just the Beginning
Highest Single Transaction Burn of 10 Billion SHIB Recorded after the Announcement
As reported by Shibburn, the platform that tracks all transactions of SHIB tokens to dead wallets, a few hours after Ryoshis Vision announced the start of rewards distribution to SHIB token burners, the highest single transaction burn of 10 billion SHIB tokens was recorded.
Ever since, the SHIB burn rate has been steadily growing, boosting the hope of destroying a reasonable part of the gargantuan supply of Shiba Inu (SHIB) by the end of the year.
The burn initiative was initially introduced to drastically reduce the circulating supply of SHIB, which would in turn boost the market value of the digital currency.
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