Shiba Inu Team Says SHIB Lead Has No keys to Burn SHIB, as Any Token Burnt Needed To be Purchased

Shiba Inu ecosystem team member and marketing lead Lucie has emphasized the importance of community effort in bolstering SHIB burns.

Amid a surge in community inquiries, the Shiba Inu team has shed light on the mechanisms that could significantly increase the rate of SHIB burns. Lucie, a Shiba Inu marketing specialist, addressed the community’s concerns with a clarifying message that redirects the focus from the developers to the community’s role in token burns.

Community Effort Paramount for Increased SHIB Burns 

In a recent post on X, Lucie emphasized that the developers, including the pseudonymous lead, Shytoshi Kusama, are not the custodians of tokens designated for burning. 

You're looking in the wrong direction, my friend.

Shytoshi and the developers aren't the key to burns. They don't hold tokens to burn, remember?

It's the community that drives burns through actions like burning tokens or transactions.

That's why we're focused on attracting… https://t.co/AWIX9EGrhc

— 𝐋𝐔𝐂𝐈𝐄 | SHIB.IO (@LucieSHIB) May 2, 2024

Instead, the community’s collective actions, such as token burning and transactional activities, propel the burn rate. Crypto Basic disclosed on May 1 that the Shiba Inu community incinerated over 1.69 billion tokens throughout April.

While this effort is commendable, the figure falls short in comparison to the 15.64 billion tokens burned in March. This drop was due to a lack of Shibarium-powered burns in April. Shibarium, which is expected to burn SHIB with a portion of base transaction fees, has seen a pause in burns amid declining engagement.

The last Shibarium burn came up on March 9, involving 13.4 billion tokens. Notably, the ecosystem team has plans to switch burns from manual to automated. In addition, according to Lucie, the team’s strategy is to enhance Shibarium’s appeal by drawing in more projects and promoting the use of the bridge by community members.

The emphasis was placed on community engagement and the development of projects within the Shibarium ecosystem. Lucie pointed out that questioning the whereabouts of Shytoshi or the timing of burns is less productive than focusing on increasing community participation.

Shiba Inu Burns Require Token Purchases

She also addressed the negative sentiment and misinformation circulating within the community, highlighting that mere talk without action does not particularly contribute to the project’s progress. 

The marketing specialist expressed support for the Shiba Inu ecosystem developers, who she said are actively creating tools for community use. However, she noted that these tools must be utilized to have the desired effect on token burns.

Lucie touched upon the founder Ryoshi’s decision to burn the keys to the SHIB supply. This move ensures that any tokens to be burned must be acquired first, which requires income generation to support the burn process. She called for the community to assist in onboarding dedicated individuals and projects to build on Shibarium.

In her closing remarks, Lucie reiterated her commitment to the SHIB token and expressed a shared aspiration with the community to reach significant price milestones like $0.01. She emphasized the importance of unity and collective effort in achieving the goals set forth by the Shiba Inu project.