Shytoshi Kusama Opens Up About Shib Burns, Use Case, And Never Owning A Luxury Car

After officially launching the Shib Name Service (SNS) this week, Shytoshi Kusama, the pseudonymous lead developer of the Shiba Ecosystem, opened up about several topics, including the much-awaited Shiba Inu burns, use case and never owning a French luxury car Bugatti.

Many holders of the SHIB token believe that Shibarium will magically burn billions of SHIB tokens at launch.

While the burning mechanism is already available on Shibarium, the layer-2 scalability solution of the Shiba Ecosystem, some people are not pleased that the burns happening right now are lesser than anticipated. Due to this, fudders or "shadow cats" have turned their attention toward Kusama.

Fudders is the crypto speak referring to those who love to spread fears, doubts and uncertainties (FUDs) in the crypto world.

Kusama has generally refrained from addressing the issues hurled at him by fudders, but not this time.

In the Shibarium tech Telegram channel, the pseudonymous lead developer explained that what others expect as "magic burns" will only happen through utility and use case, underlining that without real use case, burns will not be possible. Kusama also encouraged the community to focus on many use cases.

"Burns will only come through utility and use. The expectation is magic burns. but without real use, there are no burns. so I focus on use...many use cases and put burns in," Kusama said.

The lead developer also talked about the fudders whose attacks drive away users, investors, or business partners, and, instead of helping the community ascend, pull the ecosystem down.

"So them fudders attack and this drives away users, or investors, or partners, which drives down use basically shooting ourselves in the foot," Kusama's post on the Shibarium Tech Telegram channel read.

At one point, Kusama disclosed they could have owned a French luxury sports car Bugatti, but they decided to invest the money in developing "Shiba Eternity," the strategic card battle game launched in 2022 by PlaySide Studio.

While probably not expecting to receive praise for the personal sacrifices they have made for the community, Kusama said, "That's the difference between me and others yet I face fud."

"There is no other way Take the game for instance my word is good but the game is STILL NEGATIVE. I COULD HAVE BOUGHT A BUGATTI but I made a game for the community. That's the difference between me and others yet I face fud," Kusama said.

Further, the lead developer underlined the Shiba Ecosystem still required a lot to achieve its goals of becoming truly decentralized, including "the right DAO" or decentralized autonomous organization, which they said needed identity -- one of the reasons why the Shib Name Service was launched.

"And still, we need the right dao, And for that, we need identity And for that we need SNS," the Shiba Inu lead developer further said.

The Shiba Ecosystem and Shibarium Tech marketing specialist, who uses the X handle @LucieSHIB, couldn't agree more with Kusama about Shiba burns, while understanding why others are pushing for the burning mechanism.

"Indeed, burns are essential, and certain Shibarium initiatives are making remarkable contributions. It's crucial for everyone to realize that things must be done in the right manner – growth first, then burn. $Shib potential is mind-blowing but in the long term," the marketing specialist told International Business Times.

After several weeks of marginally trading within the $0.000007 threshold, SHIB, the native cryptocurrency of the Shiba Ecosystem, has finally broken free and saw significant gain at the start of this month.

SHIB was trading in the green zone at $0.000008018, with a 24-hour trading volume up by 27.24% at $183.38 million as of 8:28 a.m. ET on Thursday, representing a 5.29% increase in the last 24 hours and a 1.2% gain over the past seven days.

Based on the latest data from CoinMarketCap, SHIB's total circulating supply stands at 589.35 trillion SHIB, with its value up by 5.29% at a market cap of $4.72 billion.