The launch of the Shiba Inu Burn Portal was widely praised by Shiba community members, who remain overwhelmingly supportive of burns, but could a SHIB donation portal further add to the burn portal?
Planet Crypto spoke to Trophias about his donation portal concept, and how the community can help make it a reality.
SHIB Donation Portal Proposal
“As you can tell, I don’t like burns,” said Trophias.
“It’s not that I hate burns, it’s the fact it’s being done wrong. It’s not being done how it was laid out.”
For Trophias, the standard for SHIB burns comes from Vitalik Buterin, who destroyed 410 trillion SHIB in a massive burn in May 2021. Alongside this, he also donated 50 trillion SHIB to charity. “VB did it in a certain way, and we're not doing that. VB sent us a message. He donated funds to the India COVID Relief Fund,” said Trophias.
Looking at the 25 billion SHIB burned through the Shiba Burn Portal, Trophias said it is “astonishing, that we burned that much, without anything going into a donation for a good cause, or charity.”
This is where the idea of a Shiba Donation Portal comes in. It would be a place to which SHIB holders would have the ability to send tokens, which would then be sent to a charity as a donation from Shiba Inu.
Trophias stressed the importance of decentralisation through a donation pool. “You could hold it there until the community decides,” he said, referencing the Doggy DAO as a potential medium for this.
“It would be nice to have the community decide on a few charities they want to give it to. Whether it be for Alzheimer's, Cancer Research, Mental Health or a Dog Charity. Heck, we're a dog token right?”
Shiba Inu currently has some support for donations on its website, prompting holders to donate to the Shiba Inu Rescue Association via Amazon Smile. However, this uses Amazon as the vehicle for the donation, rather than SHIB itself.
Regardless of his own opinions, Trophias did acknowledge the community's support for more burns. What he proposes is a donation-burn portal hybrid that could split the SHIB sent between donations and burns. “Maybe there’s a sliding bar. You have to donate at least 60% and then you burn 40%. If you want to donate 80%, you can burn 20%,” he suggested, providing an example of how things could operate.
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Neither Trophias nor the official SHIB team is currently making a donation portal, instead encouraging the community to approach the Defence and Growth Breeds with proposals. This is similar to how the Shiba Burn Portal, which is hosted on ShibaSwap, was created, and powered by a third-party token, Ryoshi Vision.
“SHIB is a decentralised SHIB,” he said. “Anyone can build it. In fact, we encourage it. Come work with us to build something cool. And come talk to the Defence Breed if you already have something in the works, an idea, or even feedback. We’re not opposed to talking.”
He also added that from a security perspective it would need some extra elements. “A multisig needs to be put on the donation wallet,” he said. “It needs to be secured, and it needs to operate and do what it’s designed to while being completely transparent to community members.”
Trophias also said a Certik audit would be needed for a ShibaSwap collaboration. “That’s not a demand by us. That is a demand by the community. They think that anything which touches ShibaSwap should have a Certik audit, which I agree with. Security comes first in an age where people want to scam with wallets. The multisig is just a no-brainer.”
Trophias also referenced the wider marketing potential for donations compared to burns. “The world saw donation, the world did not see burns,” he said.
“If you burn and you donate and you help someone, then that reflects better on the crypto community. And if you give the crypto community more of a good spotlight, they're going to respect you a lot more.”
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