Shiba Inu (SHIB)’s decentralized exchange (DEX) ShibaSwap announced the distribution of Ryoshi Vision rewards on June 26. ShibArmy will soon receive passive income from the Shiba Inu cremation portal. Here’s what you need to know…
Shiba Inu burn portal rewards will be distributed soon
Shiba burn portal announced its collaboration with the creators of Ryoshi Vision in April 2022. Ryoshi Vision is an ERC20 token and was established to honor “Ryoshi”, the creator of the Shiba Inu ecosystem. Ryoshi mysteriously disappeared a few weeks ago. Meanwhile, Ryoshi Vision tries to realize the Shiba Inu founder’s vision.
The Shiba Inu burn portal was built to reward SHIB burners with passive income. Prizes will be distributed in the form of RYOSHI. Also, 0.49% of all transactions will be distributed to burnt SHIB holders. Shiba Burn Portal created a “BURN Pool” to burn meme tokens and offer rewards. According to data from Shibburn.com, 410.37 trillion Shiba have been burned so far. The announcement of the Ryoshi Vision awards for the Shib burned showed a huge increase in the number of Shiba burned.
ShibaSwap, the local decentralized exchange of the Shiba Inu ecosystem, announced the start of Ryoshi Vision rewards within 48 to 72 hours from June 26, 2022. The awards were delayed and ShibArmy had a long wait before making any updates from ShibaSwap. The team has confirmed that they do not expect any further delays and will be shared once the release and another update are complete.
Ryoshi Vision rewards distribution plan
During the first 20 weeks of the first phase of the bounty distribution, each xSHIB holder (SHIB staked on ShibaSwap) receives an equal amount of rewards. On May 17, 2022, the first phase of reward distribution to burnt SHIB holders began. Since then, the award distribution has been postponed for some time. Therefore, my participants who burned SHIB are waiting for the next distribution.
According to the post-stage distribution plan, half of the accumulated rewards will be distributed to RYOSHI WARRIORS when the second stage starts:
- Proportional to owners of the burning SHIB pool 49%
- 49% proportional to ShibaSwap stakers of RYOSHI liquidity pool tokens
- 1% to ShibaSwap project wallet
- 1% to RYOSHI project wallet
The other half of the accumulated rewards will be saved for future distribution cycles.
Shiba Inu ranks in top 10 cryptocurrencies among Ethereum whales
On the other hand, WhaleStats data shows that Shiba is now in the top 10 among the 500 largest whales on the Ethereum network. Thanks to the price SHIB drop in the bear market, large wallet investors have accumulated a hefty amount of Shiba. Meanwhile, the top 100 Ethereum whales hold 512.3 billion Shiba worth $5.9 million. SHIB is the third largest cryptocurrency in the whale portfolio after Ethereum and USDC. Meme coin Shiba accounts for an average of 15.42% of the whale portfolio.
The number of Shiba Inu investors explodes
Investors continue to get hold of the Dogecoin killer. A total of 1,188,887 wallets currently hold Shiba. This number is slowly climbing towards its target of 2 million.
Analysts say Shiba price could explode
Finally, on the technical side, Denys Serhiichuk, a popular analyst, evaluated the Shiba price chart. The analyst says that a daily candle close to $0.00001200 could confirm a breakout in the next few days.
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