Shiba Inu community received a 15% stake in the Welly fast-food chain

The income will add up in a Shiba Welly wallet and include profits from all of the restaurant chain’s activities

02.05.2022 - 12:05

377

2 min

What’s new? The Welly fast-food chain has announced the transfer of 15% of the company’s shares to the Shiba Inu community. This percentage will add up to a Shiba Welly wallet and include profits from all of the restaurant chain’s activities. This was reported by the representatives of Welly on Twitter.

Source: Twitter.com

What else is known about the deal? The restaurant chain’s team also reported that the use of the funds for burns and other purposes will be handled and controlled by the community through the BONE DAO. Welly noted that 15% ownership does not include 10% gross profit that is given to Welly NFT holders, or 2% burnt on all purchases.

What happened before? On April 12, the price of Shiba Inu rose more than 35% to $0,000030. The altcoin’s rise in price came after its listing on the Robinhood platform. Earlier, an unknown crypto investor bought 3,9 trillion Shiba Inu tokens ($97 million at the exchange rate on March 25). And by the end of March, the number of Shiba Inu holders had dropped by 55 000 in ten days. The decrease in the number of SHIB holders coincided with a decline in the number of transactions on the network. From January to February the figure fell by 9,27%.

On April 24, the Shiba Inu team reported the launch of a token-burning mechanism called Shiba Burn. Using a special portal, SHIB owners can burn them, receiving burntSHIB tokens and rewards in RYOSHI tokens in return.

Author: