Shiba’s development team appreciated the support and suggestions of the ShibArmy community regarding the SHIB burning portal. The team also shared the latest developments regarding Ryoshi Vision. After its latest rally, XRP buyers appear in limbo. VeChain has announced plans to expand its team in Europe by hiring more employees.
Description of Ryoshi Vision from the Shiba Inu (SHIB) team
In a new blog post, Shiba’s development team appreciated the support and suggestions of the ShibArmy community regarding the SHIB burning portal. The team also apologized to the community for the delay in the availability of many projects. The group also announced that it is combining various duties to ensure SHIB remains competitive.
Months after SHIB founder Ryoshi announced that a SHIB burn portal was in operation, the SHIB development team published a blog post detailing how to fix pending rewards. The primary purpose of the burn portal was to reduce SHIB’s token supply circulation. However, there was a reward system for those who burned SHIB tokens.
Unfortunately, the portal was unable to effectively distribute the rewards for these token burns. The SHIB development explained why it took some time to fix the missing rewards. According to them, they reached out to the developers of Ryoshi Vision. However, they did not receive any response. Thus, the team announced that it will be leaving Ryoshi Vision regarding the reward system. The SHIB development team added that this step will help preserve the integrity of the ShibArmy community. The team reminded the community that Ryoshi Vision was never part of the Shiba Inu ecosystem.
There will be alternatives to burn SHIB
The SHIB team also announced that it will now host the incineration portal as part of ShibaSwap. It also announced that it will maintain its internal development team. The team will develop new combustion assist mechanics such as the forthcoming Shibarium protocol. The group will provide the community with regular updates on these portal transitions over the next few weeks.
The SHIB team also asked the community for recommendations on the best ways to reward users of the incineration portal. The team reiterated their commitment to ensuring that the Shiba Inu achieves its goal of making the best decentralized platform in space. Meanwhile, the Shibburn Twitter page shared that there have been five SHIB token burns in the past 24 hours. Accordingly, it revealed that over 154 million SHIB tokens were burned during this time.
In the past 24 hours, there have been a total of 154,899,021 $SHIB tokens burned and 5 transactions. Visit https://t.co/t0eRMnyZel to view the overall total of #SHIB tokens burned, circulating supply, and more. #shibarmy
— Shibburn (@shibburn) October 12, 2022
XRP buyers in limbo
XRP price has rebounded slightly from its October 12 low of $0.477. However, the market still remains uncertain. That’s why XRP buyers seem to be in limbo. As you follow on Kriptokoin.com, the US PPI increased more than expected in September. As a result, the crypto market saw another wave of selling. This suggests that it will take some time for inflationary pressures to subside. It also means keeping the Federal Reserve on track for aggressive rate hikes.
As the Ripple SEC case progresses, XRP is outperforming major currencies. Thus, XRP was separated from the rest of the cryptocurrency market. Crypto enthusiast David Gokhshtein tweeted about buying more XRP as Ripple gains support. Meanwhile, the XRP community is keeping their fingers crossed on the SEC’s next move towards publishing the Hinman emails. According to James K. Filan, if the SEC decides to submit a motion to reconsider Judge Torres’ decision regarding the Hinman documents, it will end on October 13.
VeChain confirms its growth plan
Popular public blockchain VeChain has announced plans to expand its team in Europe by hiring more employees. To realize its vision of expansion, the economic problem-solving ecosystem will recruit more than 100 new developers to work at its new branch in Europe. According to a news platform, VeChain has opened new facilities in Europe and is seeking more talent for a smooth operation.
VeChain has two new facilities in Europe. These facilities are actively recruiting and building their team. The company has not yet revealed all the details of its European plans. However, the team is working with the San Marino government on a legal jurisdiction to make the platform a registered trademark in Europe. Fingers cross if VET is set for a trajectory following the most recent expansion. At press time, the token is trading at $0.02302.
We've also opened a new Technology Centre in Ireland, as well as a new HQ in San Marino, Europe. Soon, we'll be Europe-based, in a legal jurisdiction we are helping build alongside the SM gov.
Our fundamentals, capabilities & prestige continue to grow. $VET #VeChain #Blockchain https://t.co/MFs0cKNl9D
— VeChain Foundation (@vechainofficial) October 11, 2022
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