This is when Shiba Inu’s Burn Portal will reward users

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Shiba Inu holders can get their rewards for burning SHIB tokens on May 17, according to a Announcement posted on Twitter.

As reported by U.Today, the team behind the second-largest altcoin launched a burn portal in late April after partnering with decentralized finance project Ryoshi’s Vision (RYOSHI). More than eight billion tokens were burned on the first day of the launch.

The users of the burn portal will receive burntSHIB tokens after permanently removing a certain number of SHIB tokens from circulation by sending them to a burned address. They can then exchange burntSHIB tokens for Ryoshi, the native token for the Ryoshi’s Vision token.

Users will receive rewards in RYOSHI tokens every two weeks. BurntSHIB token owners are entitled to 0.49% of all trades.

SHIB, which started with one quadrillion tokens, currently has 54 trillion tokens in circulation. Nearly half of the total circulating cryptocurrency supply was burned last year by Ethereum co-founder Vitalik Buterin. The programmer also donated some of the SHIB tokens originally donated to him by anonymous co-founder Ryoshi.

Shiba Inu users burn the tokens to make the canine cryptocurrency more scarce, potentially increasing its value.

The SHIB token is currently trading at $0.00002013 on the Binance exchange.

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