.Shibtoken developers are pleased with the amount of use the portal has seen $SHIB
As reported by U.Today, the team behind the second-biggest altcoin launched a burn portal in late April after forming a tie-up with decentralized finance project Ryoshi’s Vision . More than eight billion tokens were burned within theThe users of the burn portal receive burntSHIB tokens after permanently removing a certain number of SHIB tokens from circulating by sending them to a burnt address.
Users will be receiving rewards in RYOSHI tokens every two weeks. The owners of burntSHIB tokens are entitled to 0.49% of all transactions.SHIB, which started off with one quadrillion tokens, currently has 54 trillion tokens in circulation. Nearly half of the cryptocurrency’s total circulating supply was burned by Ethereum co-founder Vitalik Buterin last year. The programmer also donated a portion of the SHIB tokens that were originally gifted to him by anonymous co-founder Ryoshi.
Shiba Inu users are burning the tokens in order to make the canine cryptocurrency more scarce, thus potentially boosting its value.
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