u.today
Shiba Inu’s official marketing lead Lucie has published an X post in which she addressed not only the SHIB army but the global crypto community overall.
Lucie issued a warning in which she spoke much wider than just SHIB, she spoke about crypto and the possibilities it provides to the world.
Lucie addresses crypto holders with warning
The marketing lead of the Shiba Inu team dwelled on the possibilities that are provided by cryptocurrencies, saying that they are “endless.”
She reminded the community that while some people will “make a good profit” on crypto, others will “bag huge money” and some will build “generational wealth,” others may just lose their funds. Therefore, Lucie warns the global community, saying “the decision is yours.”
The important thing in crypto that, according to her tweet, provides all those endless opportunities is decentralized finance (DeFi) and holding crypto in cold wallets, exercising full control over one’s private keys (self-custody).
The possibilities are endless, but the decision is yours.
— 𝐋𝐔𝐂𝐈𝐄 (@LucieSHIB) August 9, 2024
Some will lose, some will make a good profit, others will bag huge money, and some will wait until they completely change their family's lives—building generational wealth.
Crypto = DeFi = Self-custody.
Shiba Inu burn mechanism coming
As reported by U.Today earlier, the SHIB team teased an upcoming hard fork on Shibarium that will see a new version of Shibarium’s core component Bor implemented. As part of this crucial upgrade on the network, the SHIB team will also roll out the long-awaited burn mechanism for removing Shiba Inu coins from circulation.
This is the burn mechanism that the developer team teased in January in one of the SHIB blog posts. This mechanism will allow SHIB burns to transition from manual mode to an automated one. A total of 70% of transaction fees on Shibarium, which are paid in BONE tokens, will be automatically converted into Shiba Inu coins and then sent to unspendable blockchain wallets immediately, i.e., burned.
Overall, on Thursday, the SHIB community managed to dispose of more than 105 million SHIB coins, raising the overall daily burn rate by nearly 140,000%, according to data provided by the Shibburn platform.