Shiba Partnerships Look Set To Burn SHIB After NOWPayments Onboarding

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Several Shiba Inu partners will have the opportunity to burn their profits in SHIB after onboarding with payments gateway NOWPayments.

After NOWPayments announced its optional burn mechanic earlier in March, a blog post by Shiba Inu confirmed that Welly, John Richmond, and Sorbillo would each join the platform.

This means that not only will they now accept SHIB and LEASH payments, but will have a more streamlined SHIB burning option at their disposal.

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Welly, John Richmond, And Sorbillo Set To Accept and Burn SHIB

In the blog post, Shiba Growth member Milkshake noted the current dilemma these SHIB partnerships face.

"Something has been missing, and that is acceptance of  SHIB ecosystem payments, and transactions," she posted. "How can these partnerSHIBs not take SHIB as a method of payment?.

"The answer is, you’re totally right, they should, and they will, and regardless of the Shibarium timeline, it’s something that should be settled for the merchants immediately."

John Richmond and Welly partnered with SHIB earlier this year, with Richmond launching a fashion collection and NFTs with Shiba. The Welly restaurant, meanwhile, will use both the Doggy DAO and Shibarium.

Sorbillos partnered with SHIB much earlier, in July 2021, when it decided to accept a one-off payment in the token for a pizza.

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According to the post, NOWPayment is now communicating with the businesses to integrate SHIB and LEASH payments into their systems. Due to the latest update from NOWPayments, this will include " a percentage burning on each transaction."

As NOWPayments confirmed in its interview with Planet Crypto, the percentage of SHIB burned is up to the merchant. However, rates start at 0.1%. We'll need to wait until Welly, John Richmond and Sorbillo are onboarded before finding out their burn tactics.

While the Shiba development team initially seemed more reluctant to endorse or support burning efforts by the community, this now seems more related to a cautious approach to third parties rather than adversity to the SHIB burning practice.

Aside from NOWPayments, there are more plans for the Shiba ecosystem to burn SHIB, including through a burn portal.