Shiba Inu Team Confirms Over 300M SHIB Burned by Shibarium Burn Portal Amid Concerns
The Shiba Inu ecosystem team has confirmed that the Shibarium burn portal remains operational months after launch despite community concerns.Notably, concerns emerged after some community members questioned the functionality of the burn portal, known as Shib Torch, which launched in August 2024. In response, Kaal Dhairya, one of Shibariums developers, clarified the situation, confirming that the platform has already burned over 300 million SHIB tokens months after its introduction.The concerns began when Emrys, a member of the community, raised questions on X. He pointed out the lack of updates about the auto-burn feature, initially promised for January 2023. His inquiry was directed at Shiba Inu lead developer Shytoshi Kusama, who responded tersely. This response triggered frustration, with Emrys accusing the ecosystem leadership of misleading the community about the projects plans. Amid the heated exchange, Dhairya stepped in to address the concerns. He confirmed that the Shib Torch platform had been operational for months and had successfully burned hundreds of millions of SHIB tokens. https://twitter.com/kaaldhairya/status/1862574596437754123In fact, Dhairya mentioned burning over 80 million SHIB recently and emphasized the presence of a cool animation at the end of each burn. Community Questions and Developer Clarifications While Dhairyas remarks addressed some concerns, they also led to additional questions about the burn process, especially with his disclosure of cheaper Shibarium burns.Another community member expressed curiosity about the mechanism, noting that SHIB, being native to Ethereum, must be sent to a dead wallet on the Ethereum network to effectively reduce its circulating supply. He wondered how Shibariums burn portal could achieve this more efficiently. Dhairya clarified that while the current burns still occur on Ethereum, the team is exploring ways to make the process more efficient. He noted that the Shib Torch platform will undergo an upcoming maintenance which would introduce an enhanced burning mechanism. Dhairya also hinted at the potential use of CCIP (Cross-Chain Interoperability Protocol) to improve the system further. Real-Time Shiba Inu Burn DataDespite the concerns, data from Shib Torch supports Dhairyas statements. Since its launch three months ago, the platform has burned over 361.9 million SHIB tokens. Although the platform is currently under maintenance, data confirms that burns continue to occur in the background.
Text source: The Crypto Basic
