What is burntshib and how does it work?

Those who burn SHIB will receive a token called burntSHIB. The owners of the latter will receive rewards in RYOSHI tokens. (RYOSHI is the anonymous creator of the Shiba Inu project). 0.49% of all RYOSHI transactions will be distributed to the owners of burntSHIB tokens.

What is shibburn & how does it work?

The ShibBurn portal has been created by deriving inspiration from Ethereum creator Vitalik Buterin’s humongous $6.7 billion SHIB token burn of mid-May 2021. On April 23, 2022, the developers of Shiba Inu token launched a new coin burning mechanism to let burners generate a passive revenue stream.

How do I participate in the shibburning?

If you also wish to participate in the Shibburning but do not want to part with your tokens, then you can do it indirectly by using NOWPayments’ SHIB payment gateway solutions. For instance, by accepting SHIB as payment on NOWPayments, a certain amount of your fees will be sent to a burn address.

Will Buterin's Shib coin burn hurt the crypto market?

Buterin also publicly warned crypto creators against sending their tokens to his public wall address again. Some believe that the SHIB coin burn will result in the price of the crypto soaring higher over time. However, others have a more negative look.