Shiba Inu Restaurant Welly Reveals Plans To Open More Locations And Burn SHIB

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Shiba Inu logo on European city.
Credit: Ahmed Mansour/Unsplash

SHIB holders with a hankering for Shiba-branded fast food can rejoice as the Shiba Inu restaurant Welly announced it hopes to open two more franchise locations within 2022.

Announced during a Twitter Spaces, the Welly team also confirmed it hopes to contribute 2% of its net profits towards the SHIB burn, which has seen the burn rate rise dramatically following the Shiba Burn Portal launch.

Here’s a look at the latest from the SHIB restaurant chain.

Welly AMA Hints At New Store Locations

While Shiba Inu Growth member Archangel started the Welly AMA by asking listeners not to ask ‘When’ questions, this didn’t stop several holders from asking about prospective store dates.

Around 40 minutes into the AMA, one user asked about the how many stores Welly hopes to open by the end of the year. Koalop, a founder of Welly, said:

We’re definitely planning to open at least two franchises, and in the first quarter of 2023, we want to open the first flagship store… we want to open it in a capital European city.

Archangel tempered expectations, however. “If you think software development keeps getting delayed, try building a brick and mortar store with specialized equipment,” he said. “With the supply chain and logistics issues around the world, there's no way to put a pin on a date. We've got a target, but take it with a grain of salt for sure.”

Welly To Burn SHIB

Earlier in the AMA, Archangel confirmed that Welly has a plan to burn SHIB based on its net profits. “Welly is aiming to burn 2% of the net profit from all stores,” he said.

Alongside this, holders will be able to choose to burn more based on funds that enter the community wallet. The Welly franchise has already announced that the Shiba Doggy DAO will have some role in the decision-making process.

Finally, Koalop also added that a section of the franchising fees from new restaurants would go towards the SHIB burn.

Welly is also already burning SHIB, however. It has onboarded on NOWPayments to burn SHIB, until the launch of the Shibarium Layer-2.

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