According to the results of a recent Twitter poll, the majority of Shiba Inu supporters want the proceeds made from Tangem wallet sales to go toward SHIB. Shibarium1, a Shiba Inu developer, recently informed the community of new information pertaining to the selling of hardware wallets made by Shiba Inu and Tangem. To find out the community’s preferences for what to do with the proceeds, the developer started a poll.
In the tweet, it was said that the team had pledged to burn SHIB equal to 5% of the total wallet revenue from Tangem wallet sales. Shibarium1 further said that the Swiss business had just sent supporters of SHIB over a thousand hardware wallets. Tangem sold 1007 SHIB wallets at that time. 3,524 USDT, or 5% of the total, was the total amount. This sum was equal to 342.5 million SHIB at the time at the exchange rate in effect.
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Shiba Inu Community Decides on What to do with 342M SHIB Burn
The final results of the Shibarium1-sponsored Twitter poll revealed the ShibArmy’s voracious demand for SHIB burns. Shiba Inu community members were asked to weigh in on what should be done with the 342.5 million tokens in question by voting in the poll, which closed on August 12.
Option C advised donating the SHIB tokens to aid with relief efforts, in contrast to Option A’s suggestion that they be burned openly. Option B, on the other hand, was opposed to burning and required users to give up their views on how the token should be used.
94% of the 5,271 respondents who took part in the poll chose the burn option. Only 4% of respondents agreed with the plan to use the money to aid the Maui families devastated by the latest fire outbreak. Jolt was one of the 2% who objected to destroying the assets. He claims that 3,524 USDT is insignificant and won’t have much of an effect if it is burned or given to a significant cause. He did, however, express support for the contribution concept for Maui.
Jolt added that the proceeds should be divided equally among the ETH Toronto ticket giveaway winners. Shibarium1 stated today, however, citing community votes, that the funds have been converted to SHIB and destroyed. According to Etherscan, the Shiba Inu squad used 342,561,867 (342.5M) SHIB. This suggests that the conversion rate for the 3,524 USDT tokens was around $0.00001028 per SHIB.
The high SHIB burn rate seen today was influenced by this significant burn. According to reports, 1.16B were burned last week, with Binance being the main cause.
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