Shib Inu Announces the launch of its official Burn Portal where users can earn passive income

Virender Rakwal
Virender Rakwal
4 Min Read
  • Shiba Inu Community continuosly working on decreasing the token supply of Coin to increase the Coin Value of $SHIB.
  • This Portal is set to make it rewarding for users to regularly burn $SHIB while effectively reducing its circulating supply.
  • In last 24 Hrs over 8 Billion $SHIB was burn through SHIB Burn Portal!

Finally, Shiba Inu Community launches its own $SHIB burn portal for its users to Reduce Circulating Supply of Token and let their users to earn Passive income by Burning their Coins Regularly on this Portal.

What Does Burning Mean?

Burning means to remove Tokens from Circulating Supply Forever. Tokens are transferred to a dead wallet.  i.e. a Wallet from which tokens cannot be retrieved. Once a token sent to a burn or dead wallet address, it’s gone forever.

Burning is also very important to make Token Scarcity or Token Value. A scarcity can increase the price of the tokens, which benifits the investors or Holders of Token.

Read More: Porsche Dealer Starts Accepting Payments in Shiba Inu (SHIB)

Shiba Inu Current Token Supply:

Shiba Inu Token Supply
Latest Shiba Inu Token Supply Report

From Almost 1 Quadrillion Token Supply of Shiba inu 54% of tokens are still in Circulating supply which need to be burn to increase the Coin Value.

Why was this Portal Created?

Due to Feedback and Demand of Shiba Inu Community also known as ” The Shib Army ” for creating methods to increase the scarcity of Shiba Inu Token, while pushing the potential to grow the communities wealth in their investments.

With Every Burn, the weath of the community grows, but also by rewarding the effort in the long term to make Shiba Inu one of the best Digital Assets in the history of Cryptocurrencies.

Source: Shiba Inu Offical Twitter Handle

Team Shiba Inu Built this Portal in collaboration with the creator of RYOSHIS VISION, an ERC20 token trying to grow the Shiba Ecosystem, while giving back to ShibArmy Community, and adding actions to promote higher value to the Shiba Inu asset $SHIB.

Read More: John Richmond Announces it’s Partnership with Shiba Inu.

Rewarding The Community Efforts to Burn

In this portal, no act and effort of burn goes unnoticed. Just like they push for transparency on each burn transaction, they also consider that it’s part of the original investment the holder made, and respect that and their choice to burn and support the process in which circulation reduction could have an effect.

This portal has been built to reward $SHIB burners, with a passive income acknowledgement, in the form of $RYOSHI Rewards. Meaning that 0.49% of all RYOSHI transactions will be distributed to owners of $burntSHIB.

The portal has been constructed with a fully flexible, and extensible system, inviting any and all tokens that want to offer rewards to those who choose to burn their $SHIB tokens.

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Posted by Virender Rakwal
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Ceo/ Founder at XryptoNation. Senior Web Developer, Blockchain Expert.
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