This is why Shiba Inu could change everything on October 30th

There has been a lot of discussion lately in the Shiba Inu community about burning SHIB tokens on Shibarium, the L2 blockchain network. Lucie, Marketing Director at Shiba Inu, sheds light on this heated topic.

Shibarium combustion process

Lucia explained that when SHIB tokens are transferred from the Ethereum network (L1) to the Shibarium network (L2), the original SHIB tokens are locked into a bridge contract. At the same time, a token version is being created on Shibarium. So instead of actually destroying the tokens, they simply reappear on the L2 network.

What does it really mean?

If you decide to burn your SHIB to Shibarium, you are essentially deleting the newly created version while keeping the original tokens locked. Lucie emphasizes that these tokens will not be deducted from the initial supply on Ethereum. She also gave a useful tip for developers and community members: if you really want to burn SHIB, you should first bring it back to the Ethereum network and then send it to the “dead wallet.”

What does the community say?

A community member noted that locking SHIB tokens in a bridge contract has the same effect as burning them since they are not in circulation. Lucie agreed and clarified that some think they were not burned because they are not in dead wallets, but in the bridge contract that no one has access to. She also added that the Shiba Inu Project is a real community that doesn’t have to spend developer or marketing money.

The ongoing discussion

All of this follows a broader discussion within the SHIB community. While some believe the L2 burn will not affect supply on Ethereum, others believe the goal is to remove tokens from active circulation regardless of the layer the burn takes place on.