Shiba Inu Owners Flock to Burn Portal With 11B Tokens Removed

launched by developers of Shiba Inu will reward community members who burn the protocol’s native SHIB tokens on its ShibaSwap exchange platform.

“Burning” crypto means permanently removing tokens from circulation by sending them to a wallet from which they can never be retrieved. Crypto projects may burn tokens to reduce supply, which could lead to increased prices in the future as tokens become more scarce. While the community already burns tokens, the portal incentivizes the process for users. It allows users to send SHIB tokens to a dead wallet address and in exchange sends “burntSHIB” tokens to users.

These can then be staked to generate rewards for users in the form of RYOSHI tokens, a separate token created by the Shiba Inu community. Some 11 billion SHIB tokens have been burned since the portal started operation on Sunday, data show. This amounts to just over $251,000 at current prices. Participants are earning current annualized yields of 9% at writing time,The mechanism did little to prop up SHIB prices amid a downturn in the broader market. SHIB has lost 5.3% in the past 24 hours, with most losses coming after a market-wide slide in Asian morning hours on Monday.

Source: Entertainment Trends (entertainmenttrends.net)

Shibtoken 🚀🚀Babyzoro inu trending coingecko,CMC soon babyzoroinu CoinMarketCap memecoin Bitcoin BNBchain,Coingecko,p2pb2b,mexc,audit,kyc,gate,KuCoin,elonmusk Coingecko

Shibtoken 2022 2023 caw

Shibtoken TheNextWar IDO will be launched in end of MAY🔥 Don't miss this 100x $TNG tokens soon rocket TO THE MOON🚀 from floor price! Check the teaser video: TheNextwar NFT NFTs NFTGame Blockchain F2P BSC Binance GameFi IDO

Shibtoken XMetaverse_ X-Metaverse is a blockchain game developed by Cocos3D and can run on Android, iOS and PC. All game content items and characters are based on blockchain tokens and NFTs. The visual effects and gameplay of X-Metaverse are inspired by StarCraft and Star Wars.

Shibtoken Please help us in Ukraine, we need supplies. Just 5 or 10 XRP doesn't need too much rnFtehET6iwxBNp5FitbVBcsTwd87U7h4W

Shibtoken I'm really proud to be one of your investor's. protraderjason This was the biggest amount I've ever profited in my trading career. I appreciate your hard works

Shibtoken Bro. It’s a token based entirely on a “oh cute dog pic”. Fact tokens like this exist and morons convince themselves an ecosystem named after a bizzare looking dog is epic troll. Mouth breathers buy SHIB.

Shibtoken 🆕 New Great Metaverse Project METAXA 🆕 Metaxa has made a new start. We will be able to buy land on its site. We will be able to buy and place any house on this land. We will be able to sell them whenever we want. I am ready for the future. 🚀 🚀

Shibtoken BabyDogeCoin babydogemedia BabyDogeNFTs Babydoge NFT 2022🚀🚀🚀🚀

Shibtoken Yesterday nearly $50mm in $Hex was locked up by the community for 15 years. $Maxi Y'all Shibbies got to get them numbers up.

Shibtoken luffyinutoken LUFFY LuffyV2 LUFFYTOKEN LUFFYCREW Cryptocurrency NFTs P2E ETH BTC ETC

Shibtoken Also important note 'Ryoshi token' is a different project altogether. It has nothing to do with Ryoshi's Vision, which is the token used for these rewards.

Shibtoken There are conflicts about SHIB and need someone with strong back like elonmusk to support Shibtoken to make project work.

shauryamalwa Sick...sick...

shauryamalwa Sick

shauryamalwa As much as I hated on Shib. They are actively trying to burn excessive amounts of tokens.

shauryamalwa Insane burnt

shauryamalwa So you're shilling shit dog coins, while FUDing Terra? You're turning into a laughing stock.

shauryamalwa Cool, I've always wanted to swap my tether for shib to burn it for other tokens, which I will then exchange... for what? And how is the reward generated? It looks like a huge fraudulent scheme.

shauryamalwa RubyPlayNetwork $RUBY token holders can have the option to stake their tokens to cultivate more $RUBY tokens. BSC BSCGEM cryptogaming PlayToEarn Altcoins Staking

United States Latest News, United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Shiba Inu Teases Payment with SHIB in Its Metaverse as Public Sale Event BeginsShiba Inu suggests payment with SHIB in its Metaverse as public sale event starts ShibArmy SHIBCommunity A wave is coming. . . . SHIBARMY the theory is that it burns buybacks from developers for $SHIB, maybe it's wiser to buy NFT using SHIB as well Thanks so muchhhhhhh for this gift ShibalnuEvent
Source: Utoday_en - 🏆 295. / 63 Read more »

Shiba Inu Launches SHIB Burning Portal: What Does it Mean?Shiba Inu (SHIB) has introduced a burning portal. Holders can now permanently destroy their tokens, reducing the circulating supply while receiving opportunities for passive income.
Source: Crypto_Potato - 🏆 568. / 51 Read more »

How to Buy Shiba Inu Coin (SHIB)The viral success of shiba inu coin (SHIB) in 2021 means it’s easier than ever to purchase the dogecoin competitor across a range of platforms. Here’s what you need to know. 🚀Airdrop campaign 👉 ShibalnuEvent Limited time offer! ShibalnuEvent Live airdrop now! ShibalnuEvent
Source: CoinDesk - 🏆 291. / 63 Read more »

Shiba Inu's New Burn Portal Rewards SHIB Burners for Destroying Their Tokens – Altcoins Bitcoin News'This burn portal is set to make it rewarding for users to regularly burn ShibaInu while effectively reducing its circulating supply,' the SHIB web portal details. Don't miss ShibalnuEvent The craziest airdrop is live now! ShibalnuEvent _Lady_Crypto_ Together
Source: BTCTN - 🏆 531. / 51 Read more »

SHIB Army Burns 287.3 Million Shiba, Boosting Burn Rate MassivelyAnother massive chunk of Shiba Inu has been incinerated, while the burn rate of the meme token has soared 🚀🚀🚀 Why still dipping?
Source: Utoday_en - 🏆 295. / 63 Read more »

Shiba Inu Burn Portal Gaining Traction with Holders Shortly After LaunchShiba Inu’s burn portal is gaining popularity with users shortly after its launch that took place last week
Source: Utoday_en - 🏆 295. / 63 Read more »