Shiba Inu Launches SHIB Burning Portal to reduce Circulation by Rewarding Members.
Shiba Inu (SHIB) holders can now generate passive income by burning SHIB tokens via a new Shibaswap burn portal.
The Portal aims to enable members of the SHIB Army to reduce the tokens circulating supply & boost the value.
The new, dedicated burn portal gives any SHIB owners with a Web 3 wallet the ability to burn SHIB
SHIB Owners can obtain a passive income rewards for their burn participation.
The burn portal has been created as part of a partnership between Shiba Inu and Ryoshis Vision (RYOSHI).
It's Ethereum-based decentralised finance (DeFi) project that aims to support the growth of the SHIB eco-system.
SHIB burners generate passive income in the form of RYOSHI rewards by holding on to a new token called "burntSHIB".
Early Monday, the project tweeted that within the first 24 hours of the portal being launched.
Over 8 BILLION $SHIB was burned on the portal since launched.
At current conversion rates, that amounts to SHIB worth $181,040 (roughly Rs. 1.4 crore).
The Shib Inu said "Our hope is that with every burn, the wealth of the community grows"
The Shiba Inu Team aims to "Make Shiba Inu one of the best digital assets in the history of Cryptocurrencies".