Shibarium Developers Clarify SHIB Token Burn Mechanism Amidst Influencer Promises
Shibarium’s marketing strategist Lucie has issued a statement on X clearing up misconceptions related to the project’s tokenomics. This comes amid social media buzz generated by influencers promising significant SHIB burns.
In a tweet, the Shibarium team emphasized that no central authorities hold keys to the SHIB supply and that the platform operates as a wholly decentralized entity.
- This means that any tokens that get burned are purely an outcome of people choosing to use Shibarium.
STAY INFORMED
Just wanted to give you a friendly heads up about some influencers making big promises about $SHIB burns.
There are no keys to the $SHIB supply. Completely decentralized.
Whatever gets burned is simply a result of people buying and using #Shibarium.… pic.twitter.com/X35w1lPkPq
— | Summer of Shibarium (@LucieSHIB) August 30, 2023
- They further clarified that a unique aspect of Shibarium’s design is its ability to burn SHIB tokens with low gas fees, making it more accessible for millions of people to use and contribute to the SHIB token burn.
- Therefore, the token burn is not dependent on a handful of individuals but is a collective effort by the entire community.
- Each interaction on Shibarium results in a small portion of SHIB being burned. While the amount of SHIB tokens burned will be revealed in future updates, the developers urge users not to rush.
- They highlighted that Shibarium’s impact is part of a long-term plan, with significant effects expected to surface within 8-12 months.
- The team concluded their statement by stressing the importance of facts over hype, encouraging the community to be patient while understanding the essence of Shibarium’s tokenomics.
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