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The Shiba Inu cryptocurrency community is currently engaged in a debate about how to use funds received from Welly, its fast-food partner. Over the weekend, Shiba Inu's lead developer Shytoshi Kusama introduced a proposal asking the community to vote on the allocation of 37.5 Ethereum (ETH) that Welly had allocated to the SHIB Decentralized Autonomous Organization (DAO).
Proposal Details and Voting Options
The proposal, which began on August 31 and is set to conclude on September 4, offers four potential ways to use the funds, with execution expected by September 30. The first option proposes that the funds be held in a multi-signature wallet and used according to the community's decisions. The second option suggests burning the funds to reduce the Shiba Inu (SHIB) supply, while the third proposes using the funds for projects without requiring a community vote. The final option allows the wallet owner to retain the funds, aiming to prevent Fear, Uncertainty, and Doubt (FUD) within the ecosystem.
Community Opposition to SHIB Burning
Despite the choices available, several prominent community members have voiced their opposition to burning SHIB with the funds. Influential figures such as Lola and Jolt expressed their views on social media platform X, arguing that burning 37.5 Ethereum (ETH)—approximately $100,000—would not significantly impact SHIB’s price.
Jolt suggested that rather than burning SHIB, the funds should be used to support the broader adoption of Shibarium, a Shiba Inu Layer 2 blockchain solution. He emphasized that efforts should focus on making burns within the Shibarium ecosystem as initially intended. Jolt also recommended using the funds to facilitate the integration of Shibarium and BONE tokens on major Tier-1 cryptocurrency exchanges and wallets, which could benefit the entire Shiba Inu ecosystem.
Alternative Proposals for Fund Utilization
Similarly, Lola proposed that the funds should not be used for burning, as it would only remove 7 billion SHIB from circulation, an amount she considers insufficient to make a noticeable difference. Instead, she suggested that the funds be allocated towards developing a game or application, such as Solitaire Cash, that would use SHIB as the official currency and gas fee token. Lola believes this approach would increase SHIB's utility and adoption while supporting burns indirectly.
Community Voting Results
As the vote progresses, early results indicate that the majority of the Shiba Inu community favors the first option, which supports placing the funds in a multi-signature wallet for community-directed use. Preliminary data shows that this option has received 84.55% of the votes, while the proposal to burn SHIB has garnered just 15.45%. The outcome suggests a strong preference within the community to explore alternative uses for the funds that could drive broader adoption and enhance the utility of the Shiba Inu ecosystem.
