More than anticipated, the newly launched “SHIB Burn Portal” is doing wonders and getting responses from the community, as over 1.47 billion Shiba Inu (SHIB) tokens have been permanently removed from circulation during the last 24 hours.
Shiba Burn Portal
According to the official burn site Shibburn.com an unbelievable total of 1,472,795,311 (1.47B) SHIB, worth $32,622, has been sent to the dead wallet through 146 separate transactions in the last 24 hours by making use of the newly launched “Burn Portal”.
However, the burn rate for SHIB slumped by -16.92% compared to the previous day when 2,030,364,253 (2.03B) canine-themed tokens were sent to the “inferno” address through 159 separate transactions.
“SHIB Burn Portal” was officially released on ShibaSwap on April 23, 2022 (a week ago). Since its launch, a whopping total of 21,601,611,341 (21.60B) SHIB, worth $479,339, has been successfully burnt.
Welly’s Burn Initiative
Moreover, the first-ever SHIB-themed fast food restaurant, Welly fast food , has come up with a plan to burn Shiba Inu in the future. Italy-based fast food Company officially disclosed that they aim to contribute towards SHIB burns in different ways soon. Stating that they will allocate 2% of the total net profit collected from all the stores for burning SHIB along with some portion of franchise fees.
Recently, Welly has officially granted the Shiba Inu Community full 15% ownership of the Welly Company. The company announced that this ownership percentage would go directly to Shiba Welly Wallet, which is supposed to be controlled by the community through votes. This means the community would have the power to decide through Doggy DAO votes using BONE (another token of the Shiba Inu ecosystem) whether they want to use this percentage or a part of it for burn, rewards, or invest in Welly’s expansion.
Welly is currently open for franchise applications all around the world. Over 300 applications have been received and are undergoing review. After the review is finalized, the team will contact the most suitable and appropriate franchisers for interviews.