The Shiba Inu (SHIB) team has provided a crucial update to the enthusiastic community members regarding the pace of SHIB token burns.
In a recent tweet, Lucie, Shiba Inu’s content marketing specialist, informed the SHIB Army that the ongoing massive SHIB token burns based on Shibarium transactions are manually conducted. Meanwhile, Lucie noted the potential for a more efficient and transparent burning process.
Specifically, the Shiba Inu representative disclosed that SHIB burn processes would become automated soon, promising to update the community when the necessary updates have been implemented.
“SHIB burns are conducted manually until the upgrade. The announcement will be made, ensuring you are informed,” Lucie remarked.
$SHIB burns are conducted manually until the upgrade. The announcement will be made, ensuring you are informed.
— ????? | ✨Shib.io✨ (@LucieSHIB) December 24, 2023
Furthermore, the Shiba Inu content marketer quoted the words of Shiba Inu’s Telegram and Discord administrator, Davinci, to elaborate on the current schedule of SHIB burns.
Per the disclosure, the promised SHIB burns will take place. However, it would occur at a deliberately slow pace to minimize or eliminate any pressure on Shibarium’s gas token, Bone (BONE).
The Shiba Inu community on X received the update from Lucie with open arms, wishing the team a blissful holiday. Meanwhile, some community members expressed their views about the Shibarum-powered SHIB burns.
Some hoped that the Shiba Inu team would channel some percentages of the generated transaction fees to burning BONE tokens.
Shiba Inu Team’s SHIB Burn Efforts
Recall that Shibarium experienced its inaugural hard fork earlier this month. Following this technical update, the SHIB token burn model would improve, shifting from manual execution to automated.
Meanwhile, the Shiba Inu team has orchestrated four manual SHIB burns this month. The first manual burn occurred on December 4, eliminating over eight billion SHIB tokens. In the most recent burn schedule that occurred on December 22, the team incinerated over 17 billion SHIB in two transactions.
After the fourth manual burn, the team successfully reduced the SHIB token supply by over 33 billion, utilizing transaction fees generated from Shibarium.