Shiba Inu: PawZone to Launch Burn Portal Among Other Projects

Shiba Inu: PawZone to Launch Burn Portal Among Other Projects

The Shiba Inu (SHIB) ecosystem’s newest meme token, PawZone, has revealed its latest plan to build a burn gateway allowing users to burn their cryptocurrency holdings for incentives.

Users that burn their PAW and SHIB tokens will be compensated through raffle giveaways, a top burners log, and other special events once the platform launches.

To avoid doubt, burning in cryptocurrency refers to the permanent destruction of tokens in circulation to reduce the total supply of the virtual asset in the hopes of increasing its value.  

Users are delighted about the new invention, even though it is unknown when the project plans to launch its burns.  

In response to the Twitter news, several community members are anticipating the launch of the burn system.

Related Reading:  Shiba Inu to Introduce Customized Cold Wallet Soon

Other PawZone Projects

In addition to the PAW burn, PawZone intends to launch Pawzaar, a non-fungible token (NFT) marketplace devoted to the Shiba Inu ecosystem.

For the Shiba Inu community, the project also aims to launch a play-to-earn (P2E) gaming guild

According to the guide, blockchain gamers can borrow in-game assets without paying any fees.

When it launches, PawZone will make its debut on the Shabarium ecosystem, a layer-2 solution designed for Shiba Inus and based on the Ethereum protocol. 

ShibaSwap presently trades PawZone’s PAW token, which serves as a governance token for the platform.

With a market value of $30 million and more than $3 million in locked liquidity, Pawzone achieved a key milestone soon after its formal launch in March.

Read Also: Shiba Inu Unveils Rocket Pond Concept for SHIB Metaverse

Disclaimer: The information in this article should not be considered financial advice, and FXCryptoNews articles are intended only to provide educational and general information. Please consult with a financial advisor before making any investment decisions.

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