Introduction
In a recent end-of-year communication, Kaal Dhairya, a lead developer for the Shiba Inu project, outlined a strategy aimed at assisting users impacted by the September hack of Shibarium. He introduced the concept of “SOU”—which stands for “Shib Owes You”—designed to compensate those who suffered losses during the incident.
Understanding SOU
The SOU operates through a system of non-fungible tokens (NFTs) that serve as verifiable claims, representing precisely what the Shiba Inu ecosystem owes each affected user. Unlike a mere database entry, these NFTs are cryptographically secured and permanently recorded on the Ethereum blockchain, ensuring that users have tangible proof of their claims.
Each user’s SOU details a principal amount that reflects the total outstanding value owed. As the recovery process unfolds—including community donations—the principal amount will decrease. Users will have the ability to monitor their original claims, track received payments, and see remaining balances. Furthermore, these NFTs can be merged, split, or transferred among users.
Insights from the Team
Lucie, a team member of Shiba Inu, further illuminated the concept of SOUs in a social media post. She described two distinct facets of the “Shib Owes You” initiative:
1. Official Tier – SOU NFTs on Ethereum: This segment is the responsibility of the Shiba Inu team. The NFTs are intended to account for losses suffered through the exploit of the Plasma Bridge and are designed to ensure transparency, being auditable and defining payment obligations meticulously. However, this layer is focused on tracking debts rather than raising funds.
2. Community Recovery Layer on BSC: This secondary layer has seen initial contributions from projects like Woofswap and operates independently of the NFTs, focusing on generating liquidity and fees. Lucie emphasized that this BSC layer is not an official product or a form of an IOU; its purpose lies in facilitating trading activities that can fund recovery efforts.
Conclusion
In summary, the SOU NFTs serve as a foundation for accountability regarding what users are owed, while the BSC community layer aims to foster financial activity to support the recovery and sustainability of the Shiba Inu ecosystem. Thus, while one element verifies debts, the other cultivates necessary funds for rejuvenation.
