Several polls conducted by Shiba Inu team members have revealed the high level of support the community has for SHIB burns.
With the success of the Shiba Inu Burn Portal, which has now destroyed over 22 billion SHIB, the act of destroying SHIB tokens with the aim of increasing scarcity remains in high demand.
However, some Shiba holders in the Discord question its usefulness, instead pushing utility. Now, two polls have tested the community’s perception of burning. Here’s what they said.
Shiba Inu Burn Polls
In a poll by Shiba Inu Growth member Archangel, who has appeared on several Shiba AMAs, he asked his followers whether the burn portal launch or the Shiba Inu Metaverse was the biggest news. In a 60:40 split, his followers voted in favour of the Burn Portal, with over 4000 community members responding.
Archangel then posted a follow-up poll, asking his followers if burns help a project. 71.8% of the 15,216 responses said it did help the project’s price in some form. 46.6% of these said it helps in the long-term.
Meanwhile, one-quarter said it was helpful for marketing purposes, while just 3% said it had no benefit.
Such poll results may explain why the Shiba Inu team greenlit the addition of the burn portal onto ShibaSwap, despite their own internal views of SHIB burns perhaps not reflecting this.
Indeed, the burn portal website explicitly notes the community as a reason for its implementation. It states:
The Shiba Inu Community has been quite vocal and providing ongoing feedback [relating] to creating a systematic method in which scarcity can increase while pushing the potential to grow the communities wealth in their investment.
Shiba Inu burns first started out as a grassroots activity from the community. The likes of the Bricks Buster mobile game burned SHIB through advertising revenue, for example.
Discussions around SHIB burns seem to have dominated most conversations around the token, even after the burn portal’s release. Both the recent Welly AMA and a Content Creator Twitter Spaces saw questions come in relating to burning plans.
Welly has confirmed it will burn 2% of its net profits, as it announced the Shiba Inu community will gain 15% ownership over the fast-food chain.