Addressing Our Launch: An Update from the Sheboshi Squad

Addressing Our Launch: An Update from the Sheboshi Squad

Exploring New Horizons with ERC404

As we ventured into the uncharted territories of the ERC404 standard—a forefront of decentralized experimentation—we were filled with anticipation for its untapped potential. The DN404 standard, even newer and full of dynamic capabilities, promised a groundbreaking journey for Shibarium. Our ambition was not just to navigate these new waters but to master them, ensuring maximum utility for our community. The result? A resounding success, propelling us to the #1 spot on OpenSea before even touching down on Uniswap or Shibaswap!

A Swift Response to Unforeseen Challenges

The path of innovation is often accompanied by unexpected lessons. During our Sheboshi NFT launch, a bug momentarily opened the gates for additional minting, leading to a flurry of activity and transactions worth 652 ETH in under 5 mins! We want to extend our sincerest apologies for any surprise or inconvenience this may have caused. Our team's response was immediate, addressing and resolving the issue with speed and efficiency, ensuring no such obstacle hinders our journey forward.

Our Pledge to Integrity and Our Community

In the face of this hiccup, our resolve remains stronger than ever. We're committed to rectifying this with the following steps:

Adjusting the Total Supply:

Embracing the ERC404 standard's dynamic supply feature, we've increased the total Sheboshis from 12,000 to 20,000. This adjustment guarantees that all snapshot holders can claim and mint their Sheboshis, reaffirming our commitment to a fair and equitable launch.

Opportunities for Unclaimed NFTs:

Sheboshis not claimed by Shiboshi snapshot holders will still be available for LEASH holders to purchase. Our dedication to providing value to our loyal community members remains unwavering.

Transparent Allocation of Proceeds

The unexpected sales have not shifted our focus from our core mission. Here’s how we are allocating the proceeds:

50% of the Revenue Dedicated to:

  • Burns: We’re strategically burning SHIB, BONE, LEASH, TREAT, and SHI to reduce supply and add value for our holders.
  • Non-Profits: Contributions are being made to meaningful causes, including efforts in Japan, the Manny Pacquiao Foundation, Women in Blockchain, and more, as chosen by our community.
  • Foundation and Team: Supporting the foundational pillars of our project and the incredible effort of our decentralized team.
  • Providing Liquidity: A portion of the funds will be used to provide liquidity to the project. This is our way of giving back and making it up to the community, ensuring a stable and prosperous ecosystem for ERC404/DN404 token enthusiasts.

The Remaining 50%:

This portion is allocated towards operational expenses and our treasury, furthering our mission towards a decentralized future as outlined in the Shib Paper.

Looking Ahead with Renewed Optimism

This unexpected event has only bolstered our spirit and our commitment to innovation, learning, and community growth. We're more motivated than ever to continue on this journey with you, our Shib Army.

We're immensely grateful for your support and understanding as we navigate these new frontiers together. Here’s to the exciting adventures and milestones that lie ahead.

Thank you for being a vital part of our vibrant community. Together, we move forward.