In recent developments within the Shiba Inu ecosystem, a significant move has been made to address a longstanding concern that has been troubling the community. This week, the Shiba Inu team introduced LEASH v2, a revamped version of their exclusive token designed to tackle supply issues that have been looming over the project. This release comes in the wake of community unrest after a hidden rebase functionality unexpectedly inflated the token’s supply, diluting its value. The swift response by developers aims to restore trust among the token holders by cementing the LEASH v2 as a reliable asset.
LEASH v2 Establishes a Fixed Supply Model
In a move to mitigate risks surrounding supply manipulation, LEASH v2 introduces a hard-capped supply, according to Shiba Inu’s marketing lead, Lucie. Announcing this via social media, she clarified that post-migration, LEASH v2 will feature a fixed supply cap of 107,000 tokens, aligning with the original plans. This new version eliminates any possibility of unplanned inflations or hidden vulnerabilities that could compromise the token’s scarcity and value.
The original issue was traced back to a rebase function embedded in the contract by a previous developer, which remained unnoticed until the recent upheaval. The team has documented these technicalities and proposed a community-driven solution via a Decentralized Autonomous Organization (DAO) for migrating to an audited, fixed-supply LEASH v2 utilizing the last trusted snapshot. The migration plan involves a burn-to-claim model, where existing token holders can exchange their old tokens for the new LEASH v2, ensuring a trustworthy transition.
Impact on Token Holders
The changes introduced by LEASH v2 are confined to its specific token, leaving other tokens in the Shiba Inu ecosystem, like SHIB and BONE, unchanged. As the transition progresses, provided that audits are finalized and exchanges support the changes, the community can expect a smooth migration process.
A credible Shibarium insights account has shared that external auditors are collaborating with the team to validate the transition, and discussions with exchanges are facilitating support for the swap. Additionally, a public testnet and a bug bounty are planned prior to the full launch. The response from the Shiba Inu community has been predominantly positive, with many backing the initiative across various social media platforms.
As of the latest updates, LEASH is valued at $52.40, reflecting an 8% drop over the past 24 hours.
Frequently Asked Questions (FAQs)
What is LEASH v2 and why was it introduced?
LEASH v2 is the updated version of the Shiba Inu ecosystem’s LEASH token, introduced to address unintentional supply inflation due to a hidden rebase function in the original contract. It aims to restore community trust by establishing a fixed supply and removing any previous vulnerabilities.
How does the burn-to-claim model work for LEASH v2?
The burn-to-claim model allows current LEASH holders to burn their existing tokens in exchange for the newly minted LEASH v2 tokens. This process facilitates a smooth transition to the updated contract with a fixed supply, ensuring the security and intended value of the token is maintained.
Will the introduction of LEASH v2 affect other tokens in the Shiba Inu ecosystem?
No, the introduction of LEASH v2 solely impacts the LEASH token. Other tokens, such as SHIB and BONE, remain unaffected by this change, continuing their operations as usual within the ecosystem.
In summary, this guide delves into the technological advancements, potential investment value, and strategic positioning of Fantom. The FAQs aim to provide further clarity, assisting readers in making well-informed decisions regarding their engagement with the cryptocurrency.
