What is Shib Burn / www.shibburn.com ?

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What is Shib Burn / www.shibburn.com ?

www.shibburn.com is a community project started and monitored by the Shib Army and their Twitter handle is @shibburn.  The goal of the project is to burn as many Shib tokens as possible and track the progress in real time on the www.shibburn.com website. When a Shib token was burned, it was sent to a dead wallet address and locked up forever.  The site was launched on June 1st, 2021.  The Shibburn Twitter page is where the Shib community discusses about Shib burn ideas and progresses.  On Oct 11th, 2021, Shytoshi Kusuma (Shib’s lead developer) supported the Shib burn initiative on Twitter via the following tweet.

 According to the Shibburn blog, the www.shibburn.com website was designed to make it easier for the Shib Army to find information about Shib burns.  The website aggregates all Shib burn transactions on its server and allows visitors to see all Shib burns in one place instead of doing multiple searches on  Etherscan.io.  Shib runs on Ethereum, so Shib transactions are searchable on Etherscan.io.  For transparency reasons, the www.shibburn.com website also provides links to etherscan.io, so visitors can verify the Shib burn transactions. 

Since Shibarium came out in the summer of 2023, the www.shibburn.com site has been tracking the gas fees accumulated in Bones from Shibarium transactions for burns. Please visit this ShibBurn page here for more info. Bone tokens are sold to buy Shib tokens, and then the Shib tokens are send to  dead wallets to be locked up forever also known as burned.

Also, on August 8, 2024, LUCIE, who is part of  The Shib Marketing Team, shared that the automatic burn mechanism on Shibarium will start on block 6206750 on the blockchain.

 

The Shib burn website provides information on burn rate and circulating supply.  The burn rate is a 24 hours burn rate.   The website calculates circulating supply by subtracting total staked Shib tokens and totals from all three Shib burn addresses from total minted supply.  Updates on the website are real-time and they would like to remind visitors of the following when considering circulating supply:

  1.  Please do not rely on CoinMarketCap for updates because their website does not update Shib burn information in real-time and does not remove staked Shib tokens, which are temporarily removed from circulation, in their calculation.
  2.  If staked Shib tokens become unstaked, this will increase the circulating supply; this does not mean that more Shib were minted. All Shib were minted during initial minting and no more can be minted.   Remember, when Shib is staked, it is temporarily locked up to earn stake rewards/interest.  If you would like to verify everything, you can do the math by looking at the burn addresses and numbers in real-time.
  3. The Covid Relief fund donated by Vitalik Buterin to India was not removed from circulating supply. The reason was that it was Shib gifted from Vitalik Buterin to Indian Covid Relief fund; the tokens were just transferred, not burned.
  4. If you noticed any errors on their site, please feel free to contact them.

The Three Shib Burn addresses:

Burn Address 1:

0xdead000000000000000042069420694206942069

“This null address is mostly used since it's the same address co-founder of Etheruem Vitalik Buterin used to burn $6.7 billion in $Shib Tokens.”

 

Burn Address 2:

0x000000000000000000000000000000000000dead

“This null address is the same one used by the team for ShibaSwap listings.”

 

Burn Address 3:

0x0000000000000000000000000000000000000000

“This null address, called the Black Hole is the same one used for renaming Shiboshi's NFT. 1,000,000,000,000,000 Initial Supply - Current Total Supply = Total burned in BA-3”

Disclaimer: Our articles are for educational purposes only and NOT financial advice. For your own personal investment decisions, please do your own research and consult a financial advisor. Good luck investing.


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