Shytoshi Kusama has recently addressed misconceptions regarding the SHIB burn mechanism, providing clarity to the Shiba Inu community.
Through interactions on social media platform X, Kusama explained how the token burns operate within the ecosystem while offering insight into his demanding work schedule.
Clarification On SHIB Burn Mechanism
During a recent exchange with a community member on X, Kusama responded to a question that misinterpreted the relationship between the project’s Treasury and SHIB burns.
A community member had speculated that the addition of BONE tokens to the Treasury would directly result in higher SHIB burns. Kusama clarified that this assumption was incorrect, emphasizing that the token, as a decentralized cryptocurrency, does not function in such a manner.
Kusama highlighted that token burns are driven by the utility and transaction volume on Shibarium, the project’s Layer-2 blockchain network. He stated that his efforts are focused on forming strategic partnerships to enhance Shibarium’s adoption and activity.
According to Kusama, increased usage of Shibarium by various partners and retail participants will naturally lead to more burns, as transaction fees contribute to the burn process.
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Increased Burn Rates
Recent data from Shibburn, a tracker monitoring the asset’s burn activity, indicates a significant increase in the asset’s burn rates.
The report shows that within 24 hours, 4,851,105 SHIB tokens were permanently removed from circulation, reflecting a 135% surge in burns.
Weekly figures also showed an upward trend, with 203,001,453 SHIB tokens burned—a rise of over 56% compared to previous periods.
These figures demonstrate the importance of sustained activity on Shibarium, as transaction volume directly impacts the rate at which SHIB tokens are burned. The team has consistently emphasized that higher adoption and utility are key drivers of this process.
Kusama’s Engagement with the Community
In the same discussion, Kusama revealed details about his intensive work schedule. He mentioned working 20-hour days over several weeks, dedicating his time to managing community engagement, responding to questions, and overseeing the project’s development.
Kusama’s involvement extends to negotiating partnerships, which he views as crucial for increasing the utility of the ecosystem.
While some community members have expressed concerns about the project’s direction, Kusama’s responses reflect a broader strategy aimed at strengthening Shibarium and driving long-term growth for the ecosystem.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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