Lucie Addresses Community on Security Incident
Lucie, the marketing head for the Shiba Inu project, has recently addressed the community regarding the recent security incident on the Shibarium network. This breach particularly impacted users connected to the Plasma Bridge, but Lucie reassures supporters that the project is dedicated to progressing despite this setback.
Introduction of the “SHIB Owes You” Initiative
Through her posts on the social media platform X, Lucie introduced the “SHIB Owes You” initiative, which is designed to compensate users for their losses resulting from the incident. Alongside this announcement, an AI-produced video showcased key tokens within the ecosystem including SHIB, LEASH, BONE, and TREAT, in addition to highlighting the decentralized exchange WoofSwap.
Details of the SHIB Owes You System
The SHIB Owes You (SOU) system features a two-layer strategy aimed at recovering funds lost in the attack. Lucie described the initiative as fundamentally built on principles of accountability and transparency, reinforcing the project’s dedication to act responsibly. Users can expect on-chain proof for claims submitted, which helps establish a straightforward recovery process.
The initial layer of this framework is based on the Ethereum blockchain and utilizes SOU NFTs to record individual user losses. The development team at Shiba Inu directly oversees this layer, with each NFT tied to a confirmed claim regarding the Plasma Bridge event.
Meanwhile, the second layer operates on the Binance Smart Chain as a community-centric recovery mechanism. This portion emphasizes collecting funds to reimburse those affected, hence allowing a clear differentiation between the processes of accounting for losses and actively facilitating recovery, while also promoting community involvement in the restoration efforts.
Commitment to Building and Innovating
Lucie emphasized that the development team remains committed to building and innovating, even in the aftermath of challenges. Her assertive phrase “builders rebuild” illustrates the project’s resolve to regain both trust and utility within the ecosystem, demonstrating a structured and proactive approach in light of adversity rather than leaving impacted users behind.
Increase in Token Burning Activity
Additionally, the community has shown an uptick in activity regarding token burning. Recent statistics from Shibburn reported a staggering 910.98% rise in daily burn rates, indicating a concerted effort by SHIB holders. In just a day, a total of 4,369,584 SHIB tokens were burned through four distinct transactions, permanently removing these coins from circulation. The largest single burn accounted for 2,717,708 tokens, while another action eliminated 1,000,000 SHIB tokens.
This increase follows a stagnant three days of inactivity in burning efforts, during which no tokens were destroyed. Before the surge, an earlier report from January 9 dropped the five-day burn rate to a concerning 98.56% decrease, with merely 19,000 SHIB burned. As of now, SHIB is trading at approximately $0.00000834, reflecting a decline of 5.01% in the last 24 hours.
