SHIB Army Rejects Burn Option in DAO Voting, Opts to Transfer 37.5 ETH to Multisig Wallet
- WBOYOriginal
- 2024-09-04 00:23:12330browse
The SHIB community seems to have rejected the Shiba Inu burn option, which was choice 2 on the voting list.
Shiba Inu (SHIB) army members have voted against burning 37.5 ETH ($99,663) donated by Welly’s fast food chain, opting instead to have the funds transferred to a multisignature wallet.
In a DAO vote on Aug. 31, the SHIB community was tasked with choosing the fate of the ETH donated by Shiba Inu partner Welly’s.
Two options garnered the most attention with overwhelming vote participation.
The first choice was to transfer the 37.5 ETH to a multisig wallet, accessible by several high-ranking SHIB personnel.
The second option was to convert the ETH, valued at slightly less than 100,000 at the time, into SHIB and burn them.
While several more options were available, the community voted only for the first two, with choice 1 having a substantially larger number of voters.
Thus, the SHIB community seems to have rejected the Shiba Inu burn option, which was choice 2 on the voting list.
SHIB burn rate in green
Despite the SHIB army declining the opportunity to burn roughly $100,000 in SHIB, the community continues to transfer Shiba Inu meme coins to “inferno” wallets.
According to the latest data shared by the Shibburn data tracking platform, the daily SHIB burn rate has increased by nearly 25% over the last 24 hours.
However, the amount of SHIB that was burned and locked in unspendable blockchain addresses this time was minimal – slightly over 1.5 million meme coins, or $20.4 at the time of this writing.
The largest burn transaction since yesterday morning carried 1,000,000 SHIB less than an hour ago.
Still, things are much better with the weekly burn rate. Over the past seven days, the community has managed to dispose of 390,368,556 SHIB in total. This signifies a 241.66% increase in the weekly burn rate.
SHIB team issues FUD warning
Earlier today, Shiba Inu marketing lead Lucie posted a tweet warning those spreading FUD about SHIB and other Shibarium tokens.
Lucie highlighted that many fudders post a mix of heavy criticism, misinformation and praise, and stated that neither the SHIB team nor SHIB holders will buy that kind of stuff.
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