Shiba Inu Burn Tracker Confirms KoyoToken 4.6B SHIB Burns

Discussions had emerged KoyoToken burning of Shiba Inu, as several proponents doubted reports that the recently-launched project had burnt that much SHIB.

Shibburn, Shiba Inu’s dedicated burn tracker, recently confirmed that KoyoToken – a recently-launched project – has burnt up to 4.6 billion Shiba Inu tokens in the past 10 days. Shibburn’s confirmation came on the heels of discussions that erupted on the matter, as several proponents became skeptical of the development.

Following reports that KoyoToken had embarked on an incineration campaign, certain members of the Shiba Inu community called to question the fact that the number of tokens reportedly burnt by the project does not reflect on the SHIB burn tracking mechanism.

Responding to these questions, Shibburn clarified that KoyoToken incinerated the tokens using the burn portal. Proof of the burnt tokens can be found in the amount of burntSHIB tokens the KoyoToken address holds.

burntShib gets minted 1:1 when burning $Shib using portal, not a tradable token but used to easily track the burns made within portal. Amount of burntSHIB holders is also amount of people that burnt using portal. It can be used for dapps/ contracts (eg. for rewards). Take it as a… https://t.co/Lcy3s12fnb

— Shibburn (@shibburn) March 19, 2023

burntSHIB is a token sent to addresses that burn Shiba Inu using the burn portal. The token is not tradable, and its sole purpose is to track the amount of Shiba Inu tokens incinerated by any given address. It has a 1:1 ratio to any SHIB token burnt. If an address burns 1 SHIB through the burn portal, it will automatically be awarded 1 burntSHIB.

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