SHIB Lead Dev Gives Major Update on Shiba Inu ERC404 Tokens

The Shiba Inu cryptocurrency community is abuzz with excitement following a major update from Kaal Dhairya, the lead developer and contributor to the project. The update, centering around the launch of the highly anticipated NFT SHEboshi, has garnered significant attention worldwide.

In his recent communication, Dhairya delved into the intricacies of the ERC404 token standard, an innovative blend of NFT and fungible token attributes, which has propelled Shiba Inu to the forefront of decentralized experimentation. Despite encountering a minor hiccup during the SHEboshi NFT launch, wherein a temporary bug allowed additional minting, the response from the Shiba Inu team was swift and efficient.

To address the situation, the team has implemented measures to ensure fairness and transparency, including an increase in the total number of SHEboshis from 12,000 to 20,000, allowing all snapshot holders to claim and mint their tokens. Furthermore, unclaimed SHEboshis will be made available for LEASH holders to purchase, underscoring the project’s commitment to community inclusivity.

https://t.co/FslAVTLmxE

— Kaal (@kaaldhairya) February 21, 2024

In light of the unexpected surge in sales, the team has outlined a comprehensive plan for the allocation of proceeds, with 50% dedicated to strategic token burns, contributions to nonprofit organizations, team support and liquidity provision, while the remaining 50% will be allocated toward operational expenses and the project’s treasury.

Despite the momentary setback, Dhairya emphasized the team’s unwavering dedication to innovation, learning and community growth. Expressing gratitude to the SHIB army for its continued support, he conveyed optimism for the future of the project and its vibrant community.

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