The developers of Welly’s, the Italian fast-food chain themed around the popular Shiba Inu meme coin, recently provided a sneak peek at the company’s revamped website on their social media profiles. Welly’s first opened its doors to customers in Naples, Italy back in 2021, later forming an important partnership with the core Shiba Inu development team in order to support the decentralization goals of the broader Shiba Inu ecosystem.
As one of the earliest major investors in the SHIB token, Welly made the clever decision to adopt the actual Shiba Inu dog breed as their chain’s official mascot and brand iconography. Last year, the company boldly announced global expansion plans that would see new Welly’s franchise locations opening up in strategic markets across the world. They projected that at least one new international Welly’s restaurant would be operational sometime within this calendar year.
Since Welly’s has now fully integrated with Shibarium, the recently launched Layer-2 scaling solution devised by lead Shiba Inu developer Shytoshi Kusama, many members of the SHIB community are hopeful that Welly’s will take an active role in burning supply from the circulating token pool. This would help boost the value of the remaining SHIB by reducing total token circulation.
A prominent member of the official Shiba Inu marketing team recently addressed repeated questions from the community asking when exactly Shibarium would commence the much-anticipated massive burns of billions of SHIB tokens. She suggested the better question was when will SHIB holders migrate away from centralized exchanges to conduct transactions exclusively via the decentralized Shibarium network. The team member cited collapsed exchanges like FTX as examples of the fragility and risks involved with leaving crypto assets on centralized trading platforms.
On Shibarium, each transaction contributes to the SHIB burn mechanism, whereby a portion of gas fees paid in the BONE governance token are diverted to later be converted into SHIB tokens and burned. Therefore, the marketing representative urged the SHIB army to champion this burn structure by migrating activity to Shibarium, reasoning that the more transactions conducted on the network, the more subsequent burns would accrue. For now, gas fees remain low, but may need to organically rise in the future as traffic increases on Shibarium. The key takeaway was that proactively using Shibarium is the best way to kickstart and perpetuate burns at meaningful scales.
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