56B SHIB "Burn Portalled". Rewards coming soon.

Wanna know how much SHIB they burned via the official burn portal in two months? That would be 56,046,547,864.11 tokens at press time. Don't thank us.

After a series of scams masquerading as burn projects swept across the Shiba Inu community in late 2021, the burn portal was rolled out by the devs on April 23rd, 2022 with the goal to give the hodlers a safe tool for burning their SHIB and reducing the token’s circulating supply (doing so should in theory introduce supply scarcity and drive up the value.) Soon enough, the mechanisms under the hood of the burn portal have sparked their share of debates, with the critics claiming that “burning out of one’s own pocket is unsustainable”. Meanwhile the fans assert the burn portal takes care not only of "the huge supply issue", but it also offers monetary rewards, which should be able to reimburse the participants for burning their own pocket SHIB in the long run.

Still, at press time, the amount of tokens burned through the burn portal is the highest compared to all the other burn initiatives, and is worth at least half a million United States Dollars. 

Also, the next 48 to 72 hours should see the first batch of rewards dispatched and distributed among the participants of the burn portal. This was announced by ShibaSwapDEX on Twitter, earlier on June 26th. Given the date, the long-awaited event should be right around the corner.