Since Shibarium went live, the Shiba Inu community has remained more interested in how the blockchain would help reduce SHIB’s circulating supply.
Amid the growing interest in Shiba Inu token burns, the ecosystem lead engineer Shytoshi Kusama has weighed in on the matter.
In a telegram group discussion, a Shiba Inu enthusiast asked Kusama to give clarity about token burns in the ecosystem. Kusama responded that burning tokens is not the only factor that will catalyze the value of Shiba Inu. The developer stressed the place of Shiba Inu adoption.
In his words:
“Burns will not and are not the end all be all. We absolutely must increase adoption.”
Shiba Inu content specialist Lucie shared a screenshot of the conversation with the community on X.
So to confirm that ADOPTION is the right way?$SHIB Burns x Shytoshi answered pic.twitter.com/BizkLZ0V83
— ????? | Summer of Shibarium (@LucieSHIB) September 4, 2023
Emphatically, an increase in Shiba Inu adoption implies getting more people to use SHIB as a currency across multiple domains.
Shiba Inu Community Reacts
While Kusama’s response to the concern raised about token burns did not resonate well with some community members, others acknowledged the accuracy of his remarks.
A Shiba Inu enthusiast alleged that increased adoption implies helping the development team make more money on other ecosystem tokens. The commenter expressed that Shibarium has nothing in stock for Shiba Inu.
While someone called for the community to boycott Shibarium, another argued that the team may have deviated from the original proposal.
In particular, X user ShibaInuDad contented that the Shiba Inu team sold the community the dream of an automatic engine that would gradually eliminate Shiba Inu’s excessive supply. According to the commenter, this was to avoid people burning their funds in reducing SHIB’s supply.
Notably, the Shiba Inu content market recently urged the community to interact with Shibarium. Lucie noted that Shibarium will only burn SHIB when the community uses it. She foresees Shiba Inu hitting a formidable all-time high now that there is more adoption and community effort to burn SHIB.
Meanwhile, the lead developer affirmed that the official token burn portal is undergoing construction.
“But Burn portal is in the works.”
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
