Shiba Inu’s Lead Discusses 99% Token Burn Plan and Community Efforts

Shiba Inu‘s pseudonymous lead developer, Shytoshi Kusama, recently addressed the goal of burning 99% of the SHIB token supply. He emphasized the importance of collaboration and utility beyond burns.

Hey Fang! That’s a hard one. Burning 99% of Shib seemed impossible just a few years ago, but with many projects banding together to achieve this monumental task it can actually be achieved. How? More and more projects or a few mega large ones have to adopt the Shib tech stack &

— Shytoshi Kusama™ (@ShytoshiKusama) November 24, 2024

Responding to a query from a community member about the plan’s timeline, Kusama outlined the challenges and potential strategies required to achieve this ambitious milestone.

Ecosystem Integration

Kusama explained that reducing the SHIB supply by 99% hinges on the broader adoption of the Shiba Inu tech stack. He proposed that smaller projects or a handful of larger initiatives could integrate with the ecosystem, allocating a portion of their profits to burning SHIB tokens. This, he argued, would contribute significantly to the supply reduction.

Confident in the tech stack’s capabilities, Kusama described it as a robust platform for developers and businesses to build sustainable models while actively supporting the token burn mechanism. However, he acknowledged that market dynamics, such as rising token demand and prices, could pose challenges by making burns more expensive over time.

“It’s not the burning that matters its intention,” he remarked, stressing intent over numbers.

Utility and Adoption

Kusama also emphasized that token burns are not the sole path to success for Shiba Inu. Developing utility and driving adoption are equally critical. He highlighted the role of staking and creating use cases for ecosystem tokens like SHIB, Bone, Leash, and Treat.

According to Kusama, the ideal scenario would see SHIB tokens achieve widespread utility and adoption, with holders preferring to use the tokens rather than burn them—a vision he considers as impactful as the burn initiative.

Lucie’s Guidance on Avoiding Rug Pulling

Addressing another critical aspect of the Shiba Inu ecosystem, the project’s marketing lead, Lucie, tackled concerns about rug pulls. Responding to a SHIB enthusiast’s inquiry, she acknowledged that while eradicating rug pulls entirely is unrealistic, fostering community education and vigilance remains vital.

Lucie advised the community to rely on trusted sources, such as the @susbarium account on the X app, which frequently shares scam warnings and updates about SHIB-related risks. She encouraged users to stay informed about potential threats and ecosystem developments, emphasizing the need to recognize red flags and thoroughly research projects before engagement.

As of press time, SHIB is trading at $0.00002596, reflecting a more than 50% increase over the past 30 days.