Shiba Inu (Shib) has taken a new step by associating with Chainlink (Link) to expand its ecosystem. With this evolution, the cryptocurrency passed from the status of meme to that of utility assets revises its burning policy. It introduces an unprecedented mechanism to connect all cross-chain transactions in Ethereum. This approach allows Shib to remain faithful to its origins while exploring new territories.
In short
- Shiba Inu adopts ChainLink CCIP to anchor cross-chain burns directly on Ethereum.
- The extended burning model now covers the tokens Shib Bone, Leash and Treat.
- Despite the update, the shib burning rate drops 99.76 % with only 69,953 tokens destroyed.
A new era for cross-chain burns
At the center of this update is the ChainLink Cross-Chain Interoperability Protocol (CCIP). Thanks to this system, shib holders can transfer their tokens between different blockchains, while automatically triggering burns over Ethereum, without slowing down transactions. This mechanism aims to strengthen the presence of Shib on several networks while gradually reducing its offer in circulation.
The main developer of Shiba Inu, Kaal Dhairya, recalled that Ethereum will always remain the basis of the project. Each cross-chain transfer thus leads to a burn directly on Ethereum, ensuring the maintenance of this native anchoring. Dhairya also said that this new framework is open to developers who wish to deploy Shib on networks such as base, Solana or other emerging blockchains.
An extension that exceeds Shib
The new burning model is not limited to SHIB alone. Other tokens of the ecosystem, such as Bone, Leash and Treat, now benefit from the same cross-chain mechanism. This global strategy aims to increase the usefulness of the whole network while maintaining a deflationary pressure on the offer.
In parallel, the integration of the CCIP into Shibariumnet and the adoption of the ChainLink Cross-Chain Token (CCT) standard improve the scalability of the project. These initiatives mark a transition to a more robust and competitive infrastructure, going beyond the simple community burns that so far characterized the development of SHIB.
A contrasting impact on the market
Despite these technological advances, the rhythm of shib burns has recently dropped. According to Shibburn data, Barely 69,953 tokens were destroyed In the past 24 hours, a 99.76 % drop in activity.
To date, more than 410 trillions of Shib have been burned since the creation of the Token. However, the supply in circulation remains colossal, around 585 Trillions of Tokens. At the time of the editorial staff, the SHIB is exchanged around $ 0.00001245, displaying a slight daily decline of 0.89 %.
Maximize your Cointribne experience with our 'Read to Earn' program! For each article you read, earn points and access exclusive rewards. Sign up now and start accumulating advantages.
