Shiba Inu (SHIB) Unveils New Mode to Burn 10 Billion SHIB Daily: Details

Shiba Inu’s development team has unveiled a new game mode in Shiba Eternity, designed to reward players while supporting the ongoing SHIB burn initiative. The feature, known as Duel Mode, allows players to engage in competitive battles with the assets and rewards at stake. Beyond enhancing user participation, this mode incorporates a structured burn mechanism that permanently removes tokens from circulation.

How Duel Mode Works

Duel Mode is a player-versus-player (PvP) feature where two participants compete in Shiba Eternity’s collectible card game (CCG). Each player must pay an entry fee of 50,000 SHIB, creating a total duel pool of 100,000 SHIB per match. Once a battle concludes, the winning player receives 80,000 SHIB, while 10,000 SHIB is burned, reducing the circulating supply. The remaining 10,000 SHIB is allocated to platform fees, ensuring continued game development and support.

According to Lucie , the ecosystem’s marketing lead, Duel Mode is currently available only in the Web3 version of Shiba Eternity, which remains in its beta phase. The development team has not yet announced an official release date for the full version.

Potential Impact on Token’s Supply

The introduction of Duel Mode brings the potential for significant SHIB token burns . Lucie outlined an ambitious goal for the feature, emphasizing the importance of reaching millions of duels daily rather than just thousands. If at least one million duels occur daily, 10 billion SHIB could be burned every 24 hours.

Assuming the current exchange rate ($0.00001390 per token), approximately $139,000 worth of SHIB would be removed from circulation daily. This translates to 70 billion SHIB ($1.03 million) burned in a week and 280 billion SHIB ($4.12 million) removed in a month.

We are on twitter, follow us to connect with us :- @TimesTabloid1

— TimesTabloid (@TimesTabloid1) July 15, 2023

By reducing the overall supply, this burn mechanism has the potential to impact the token’s value positively over time.

Current Burn Rate and Circulating Supply

In addition to the anticipated burns from Duel Mode, the token’s burn rate has recently surged over 1,300%. Within 48 hours, 30.18 million tokens have been permanently removed from circulation. The token burn strategy has removed 410.74 trillion tokens from circulation, reducing the total supply to 589.25 trillion SHIB .

As Shiba Eternity Duel Mode gains popularity, its deflationary mechanism may accelerate, reducing the asset’s supply while incentivizing players with rewards. The combination of competitive gameplay and a structured burn initiative presents a unique strategy to enhance the long-term sustainability of the ecosystem.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

Follow us on Twitter , Facebook , Telegram , and Google News