Some time ago, the Shiba Inu team announced a partnership project with Ryoshi Vision (RYOSHI) to launch the SHIB burning gate. This joint effort aimed at motivating the Shiba Inu community to burn more SHIBs and earn rewards in the process.
However, things did not go as planned, with many SHIB holders losing patience with the prolonged prize distribution process. With the growing number of SHIB members using the SHIB burning portal, Shiba Inu was forced to devise a solution and send notifications to users via a blog posted earlier this week.
Furthermore, the developers of Shiba Inu have contacted Ryoshi Vision about this issue several times, noting that the bonus flexibility is underperforming. Even so, the Shiba community is not too “afraid,” having put an impressive number of more than 110 million SHIB tokens into the burning portal in just the past 24 hours.
In order to strengthen the community’s confidence more after the above incident, Shiba Inu decided to launch a SHIB Visa card specifically for coin burning.
Shibburn is going in a new direction. #shib #shibarium pic.twitter.com/IzcQMtvs6P
— Shibburn (@shibburn) July 24, 2022
Although no additional information has been provided yet, according to the initial statement from the development team, the SHIB Visa card will support users to burn SHIB directly when paying at locations that accept SHIB. SHIB Visa will be the next addition to the Shiba ecosystem, which can significantly speed up coin burning and reward distribution.
And it is for this reason that the burning rate of SHIB has gained substantial traction right after plunging more than 60% on July 25. It has wholly recovered today and is currently growing by about 60%.