The upcoming Shiba Inu burn portal is continuing to develop, reaching its final stages, based on information revealed during the SHIB Binance AMA.
In the Twitter Spaces event on April 1, Shiba Growth Breed member Archangel gave updates on several Shiba projects, also announcing the metaverse token locking that went live following the AMA. During the conversation with Binance, Archangel also touched upon SHIB burning, and the Shiba burn portal.
Here’s what they said.
Shiba Inu Burn Portal Development
When asked about the future SHIB utility, Archangel touched upon the community’s desire to continue burning SHIB. Here, Archangel said:
I know there’s a lot of asking for burns. We’re in the final stages of building a burn portal.
While ‘final stages’ is a sufficiently vague term that doesn’t include any release date information, it confirms the team remains dedicated to implementing additional burns, following a push from the SHIB community.
This comes after the Shiba Inu team confirmed in mid-March that testing had begun for the Shiba Burn portal. In a blog post regarding the Defence Team, it said:
A Burn Portal for SHIB is being currently worked on by the developer team and there is no current release date, but testing has begun with more details forthcoming.
First teased in the Shiba AMA in February, the burn portal will form a part of ShibaSwap 2.0. Regular burns are expected to send large amounts of SHIB to the dead wallet.
However, on Discord, Shiba moderator Queenie did state the burn portal will come before ShibaSwap 2.0. This suggests it is closer to launch than many other projects in the ecosystem.
While the burn portal may just see a percentage of transactions on the DEX burned, some holders in the Shiba Discord have speculated it could become a more central place for community members to burn SHIB through.
This could help ensure burns are more transparent, or give more legitimacy to burning projects. However, these details are not yet confirmed. Official communication from the Shiba team only states the burn portal exists, and is in development.
We’ll keep this page updated when new information comes out about the burn portal.