SHIB burn mechanism on Shibarium unveiled, Shiba Inu community delighted $SHIB ShibArmy SHIBCommunity
reported, work is ongoing on the Shiba Inu ETH bridge, which would allow assets to flow between the two blockchains.
Shibarium documentation states that when a user completes a transaction on the network, the basic fee is locked on a contract on Shibarium, and the validator receives the priority fee. A total of 30% of this base cost will be set aside for network maintenance, with the remaining 70% being burned. Users can begin the burn process on Shibarium once a specified amount of BONE has accrued in the burn contract. As soon as this procedure begins, accumulated BONE are delivered to Ethereum's L1, where they are automatically exchanged for SHIB and burned by calling the contract function.
It is similar to a withdrawal transaction in that tokens are burned and subtracted from the available supply rather than being received. Burning remains a favorite topic of discussion in the Shiba Inu community, which desires the burn to reach trillions.
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