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Shiba Inu Team Prepares To Go On Massive Burn Spree, These 4 Assets Are The Targets

Bitcoinist

Bitcoin News / Bitcoinist 25 Views

Popular Shiba Inu marketing influencer, Lucie has unveiled a new token burn structure designed to enhance the value of the ecosystem. This innovative burn scheme will involve utilizing funds from the upcoming Sheboshi Non-fungible token (NFT) drops to burn four of Shiba Inu’s flagship tokens, along with two highly anticipated upcoming tokens. 

Shiba Inu Extensive Token Burn Strategy Unveiled

In a recent X (formerly Twitter) post, Lucie disclosed a comprehensive plan, outlining Shiba Inu’s intentions to dedicate a significant portion of the proceeds generated from its new NFT project, Sheboshi, to conduct a substantial token burn. 

The Sheboshis represent a unique collection of NFTs, combining the traits from the successful ERC-20 and ERC-721 protocols on the Ethereum network. These NFTs are counterparts to the original Shiboshi NFT collection, which featured 10,000 exclusive Shiba Inu NFTs released on October 14, 2021. 

According to Lucie, the primary goal is to have the Sheboshi NFTs claimed to increase engagement and bolster the community. Although the marketing influencer has stated that financial gains are not the objective, she has also acknowledged the possibility of the NFTs being sold. 

The Shiba Inu influencer announced plans to allocate 10% of the NFT funds to token burns. Specifically, Shiba Inu will direct 6% of the proceeds to burn Shiba Inu’s primary native token, SHIB

Furthermore, 1% of the funds will be dedicated to burning Shibaswap (BONE) tokens, followed by another 1% allocated to incinerate the Doge Killer (LEASH) tokens. An additional 1% each will be directed towards burning upcoming Shiba Inu tokens, TREAT, and SHI.

Shiba Inu Gives Back To The Public

In an effort to empower the NFT community and the cryptocurrency ecosystem, Lucie has disclosed plans to distribute 40% of the proceeds from the Sheboshi NFT drop to the general public. 

The Shiba Inu marketing influencer unveiled a strategic initiative, allocating 10% of the NFT proceeds to support non-profit organizations and ventures. The distribution plan involves dividing the funds amongst four distinct entities. Specifically, 2% would be contributed to Women in Blockchain, 2% to the Manny Pacquiao Foundation, 3% to initiatives in Japan and 3% of the funds to be determined by Shibdentity Enabled DAO. 

Additionally, Lucie revealed that 15% of the proceeds would be invested into the “foundation”, with specifics to be revealed at the launch of Shibdentity-enabled DAO. Moreover, the Shiba Inu marketing influencer emphasized that the SHIB team is also set to receive 15% of the NFT drop funds. 

As for the remaining 50% of the total NFT drop funds, Lucie has stated that it would be allocated to cover the ecosystem’s expenses and treasury, actively supporting ongoing initiatives and developments within the ecosystem.

Shiba Inu price chart from Tradingview.com


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