On May 17 Shiba Inu token holders will be able to receive their rewards for burning SHIB tokens. This will continue every two weeks
Shiba Inu holders to receive rewards for burning SHIB tokens
According to a Twitter announcement, Shiba Inu token holders will be able to receive their rewards for burning SHIB tokens on May 17.
After forming a partnership with decentralized finance project Ryoshi’s Vision, the team behind the second-largest altcoin launched a burn portal in late April (RYOSHI). On the first day of the launch, over eight billion tokens were burned.
Users of the burn portal receive burntSHIB tokens after permanently removing a certain number of SHIB tokens from circulation by sending them to a burnt address. They’ll be able to trade burntSHIB tokens for RYOSHI, the Ryoshi’s Vision token’s native token.
Every two weeks, users will receive RYOSHI tokens as a reward. BurntSHIB token holders have a 0.49 percent stake in all transactions.
SHIB, which began with a single quadrillion token, now has 54 trillion in circulation. Last year, Ethereum co-founder Vitalik Buterin burned nearly half of the cryptocurrency’s total circulating supply. The programmer also donated a portion of the SHIB tokens that Ryoshi, an anonymous co-founder, had given him.
Users of the Shiba Inu cryptocurrency are burning tokens to make the canine cryptocurrency more scarce, potentially increasing its value.
On the Binance exchange, the SHIB token is currently trading at $0.00002013.
