A wave of excitement has swept through the Shiba Inu community following a major update to the Shibarium network. According to the SHIB marketing lead, Lucie, token burns have now become an automated, real-time feature across all on-chain activity.
In her recent tweet, Lucie urged SHIB burn holders to facilitate this new burn period by utilizing a platform connected to BASE, known as Zora.co. This particular tweet, which was an invitation to the community to join in burns through Shibarium, had her personal affiliate link. With every interaction that users have with the network, SHIB is destroyed forever.
Shibarium will be based on transaction fees in BONE tokens, some of which will be exchanged into SHIB. SHIB tokens are then moved to unspendable wallets, which effectively take them out of circulation. This diminishing model is intended to lessen supply with an increase in network activity.
The SHIB team clarified that the recent upgrade has made burns automatic. They occur during swaps, liquidity providers, and other smart contract interactions. Burns no longer use manual triggers and are now live on-chain processed.
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Over 1.2 Billion SHIB Burned in Just Seven Days Following Automation Shift
Over the past seven days, Shibarium recorded a total burn of 1,254,539,419 SHIB tokens, according to data shared by the Shibarium Updates account. Notable transactions included burns of 21.79 million, 15.06 million, 14.57 million, and 15.87 million SHIB between June 2 and June 5.
Nonetheless, there was a sharp decline in the daily burn rate, as the Shibburn tracker reported a 64.83 percent drop in SHIB token destruction over the past day, with only 90,439 tokens being burned. This could be an indication that short-term burn levels are being affected by changes in user activity.
With the addition of more users and their engagement with dapps on Shibarium, the number of token burns is likely to rise. As the system now burns SHIB in real-time, the project is expected to sustain consistent deflation by keeping the network active.
The upgrade of Shibarium has opened a new chapter in SHIB burns, eliminating more than 1.2 billion tokens within a week. The involvement of the community on the BASE-linked platform can define the duration of the existing burn momentum.
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