Through a post on social media, Lucie, who is in charge of marketing for Shiba Inu, made an announcement about a possible option for members of the community to make money on their holdings. Participants on ShibaPunkz.art were given the opportunity to get 85,000,000 SHIB tokens and two LEASH tokens, as was revealed by the marketing head on X (which was previously known as Twitter).
The Shiba Inu staking program will be the first of its type to issue tokens, as stated in a tweet by Lucie. The tokens are scheduled to be released over the course of the next four months.
Participants from the community may choose among millions of Shiba Inus.
Every every day, the Shiba Inu community continues to expand. As a consequence of this, members of the team will sometimes come up with enticing prizes that will encourage the community to demonstrate their support for Shiba Inus in novel ways and will foster a greater level of interest among the general public in the ecosystem.
ShibaPunkz.art, which is Shiba Inu's decentralized application (DApp), has just undergone a new evolution. The Shiba Inu app, ShibaPunkz.art, was released in 2023 and allows users to stake non-fungible tokens (NFTs) from a library of 10,000 NFTs that are based on Shiba Inus. Shiba Inu's layer-2 platform, Shibarium, is used to mint these non-fungible tokens (NFTs).
Initially, ShibaPunkz NFT holders who staked their NFTs were rewarded with SPUNK tokens, which are the DApp's SRC-20 token. The amount of SPUNK tokens they received was proportional to the length of time they kept their NFTs staked. Lucie, on the other hand, claims that the decentralized application (DApp) for staking has undergone a significant change, and that players may now receive staking incentives including 85 million SHIB tokens and 2 LEASH.
In light of the fact that SHIB and LEASH are more well-established tokens in the ecosystem, the participation of community members has been very enthusiastic about this exciting new rewards program.
In 2023, more than 76 billion SHIB tokens were transferred to wallets that were no longer active, as shown by the data provided by the website that tracks burns, Shibburn. The Shibarium layer-2 network obtained the capacity to engage in token burns in December, which coincided with the highest amount of burn activity that occurred during that month.
The Shiba Inu team burned 8 billion tokens four times throughout the month of December, bringing the total number of SHIB that was burned in December to over 35 billion of the cryptocurrency. As a result of the destruction of more than 83 billion SHIB tokens in 2022, the annual burn rate decreased by 8.33% in 2023, notwithstanding the enormous burn number that occurred in 2022.
The purpose of SHIB burns is to lower the number of SHIB that is now in circulation, which will result in an artificial increase in the price of tokens that are still in circulation. On the other hand, a number of individuals within the community have expressed their discontent with the fact that the burn rate has not been able to make a dent in the billions of SHIB tokens that are still in circulation.
A member of the Shiba Inu development team recently hinted at the possibility of burning 9.25 trillion SHIB tokens this month, which gives rise to the expectation that the number of SHIB that is burnt would grow in the year 2024.
