Shiba Inu: Revenue Out of Crypto Space Good Idea, Says SHIB Developer

Revenue from Shiba Inu’s community-driven initiatives good idea

Shytoshi Kusamalead developer of SHIB, shares how far Shiba Inu has come through the ongoing bear market in a recent tweet thread.

Secondly, although the tactic of what people erroneously think are my pet projects (but are actually community driven initiatives) has been ridiculed, I think we can all now see how having revenue outside the crypto space is actually a good idea.

— Shytoshi Kusama™ (@ShytoshiKusama) June 18, 2022

While thanking the community for its immense support, the SHIB developer took the time to clear up some misconceptions. He speaks on the essence of “partnershibs” for Shiba Inu, saying revenue from outside the space “is actually a good idea.”

At press time, Shiba Inu was trading down 6.68% to $0.0000075. SHIB fell to $0.0000071 on June 19 amid the latest market selloff that saw billions of dollars wiped out of the global crypto market cap.

Shiba Inu proposes changes to BONE rewards as Shibarium release nears

The Shiba Inu team published an update on its most recent blog post as Shibarium prepares for a possible launch.

Shibarium is a Layer 2 solution developed by developers xFUND and Shiba Inu, with BONE defined as the “gas” of the Shibarium protocol. This “gas” will provide the essential functionality for smart contracts and transactions to be processed and executed.

The team goes on to say that to develop Shibarium and reserve BONE for validator positions, it needs to save more than 20 million BONE. As a result, BONE rewards on ShibaSwap must be halted at some time in the coming weeks to reserve BONE for its functions within Shibarium. The number of minted BONE is currently at 225 million; hence, minting should be halted at 230 million to save the 20 million BONE for Shibarium validators.

BONE, one of the Shiba Inu ecosystem tokens, currently has a fixed supply of 250 million. The community must now decide whether to stop the BONE farms once the supply of 230 million is reached or to increase the maximum supply from 250 million to 270 million.

The team advises the public to disregard any information concerning the Shibarium release aside from the official Shiba Inu blog. It also claims to be working on a completely focused Shibarium blog post that might be released soon to provide an up-to-date status on the project’s development.