Token burning in Shiba Inu (SHIB) and two altcoin projects continues at full speed. As the SHIB Burn Portal reaches a new milestone, more than 650,000 MATICs have been burned in Polygon’s burn mechanism. Burning campaigns started quickly for BONE, another token of the Shiba Inu ecosystem.
SHIB Burn Portal reaches a new milestone
Shiba Inu’s recently released combustion portal continues to gain tremendous traction barely 48 hours after its release. In the first 24 hours after its launch, the official SHIB Twitter account reported that eight billion tokens had been burned.
Currently reports over 15 billion since the portal went live on Sunday. indicates that many SHIB tokens have been burned. Users transfer SHIB tokens to a burn address, permanently removing them from the circulating supply. In this way, it is possible to make the token a little more scarce, which could potentially increase the price of the token.
By the way, as Cryptokoin.com reported, Shiba Inu believes that any project can use the Shiba Burn Smart Contract to create a ‘BURN Pool’ and offer rewards for burning SHIB tokens, thereby benefiting users and projects associated with the SHIB burning process. announced that it could open
More than 650,000 MATICs burned in Polygon
According to Polygon shared by the ecosystem, over 650,000 MATICs have been burned since the EIP-1559 upgrade was launched on the Polygon mainnet in January.
The highly anticipated EIP-1559 upgrade launched in January, Polygon’s It allows the native token MATIC to be burned in a three-step relationship, first started on Polygon and then completed on Ethereum.
This is similar to a withdrawal on Polygon, except that tokens received by a user are burned and subtracted from the total supply. Every time a user pays for a transaction, the base fee is locked into the burn contract in Polygon and the approver is paid a priority fee.
Another Shiba Inu ecosystem token BONE is also lit
Following the launch of the “SHIB Burn Portal”, the community has started burning campaigns for another official token of the Shiba Inu ecosystem, Bone Shibaswap (BONE). hastened to. The first burn for BONE, one of the tokens of the Shiba Inu ecosystem, has been officially claimed by the SHIB inspired token named “1CENT”. The token sent 25,327 BONDS worth $15,118 to a dead wallet in a single transaction.
The token, which emerged about two months ago, is from the Shiba Inu Community. is inspired. The name “1CENT” token is derived from one of the famous and trending #1CentDream hashtags most widely used by members of the Shiba Inu Community who hope and wish Shib to reach the 1 Cent mark.
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