Shiba Inu SRC-20 token holders on the Shibarium network whose community wants to narrow down the circulating supply now have a new burn wallet on the network.
WoofSwap, a Shiba Inu-based environment for the trading and production of SRC-20 tokens, has released an important update for members of the Shiba Inu community.
WoofSwap announced that SRC-20 tokens on the Shiba Inu blockchain Shibarium now have a burn feature. It also includes the address where tokens can be sent to be burned. shared.
src-20 now supports burning.
NEWS CONTINUES BELOWTransfer to the burning address:
0x00000000000000000000000000000000000000dEaD
NEWS CONTINUES BELOW— WOOF | src-20 on Shibarium (@woofswap) December 26, 2023
The “0x000000000000000000000000000000dEaD” wallet is used as a burn wallet by many projects.
For context, SRC-20 represents the standard for creating Shibarium inscriptions. Preparation of an inscription; It involves custom processing of various types of content, including images, text, or HTML.
Data from WoofSwap shows that there are currently at least 50 SRC-20 tokens on Shibarium. With SRC-20 now supporting burning, holders of these tokens can burn some of their large supply to support their market value. In addition, this development shows that the token can now assume a completely deflationary role.