The Shiba Inu community is buzzing with excitement after the introduction of LEASH v2, a revamped version of the popular token aimed at addressing previous supply issues. Recently, LEASH users raised alarms about an unforeseen increase in supply, which emerged from a legacy rebase function that had been left in the original contract, causing concerns over a 20%+ dilution from the established total. The swift response from the development team aims not only to remedy this issue but also to bolster trust within the community.
Key Features of LEASH v2: A Fixed Supply Advantage
According to insights shared by Shiba Inu’s marketing lead, Lucie, the standout feature of LEASH v2 is its definitive, hard-capped supply set at 107,000 tokens. This change addresses the risks associated with supply manipulation, providing a solid foundation for future growth. By eliminating secret minting processes and unnecessary rebasing, the newly launched token intends to restore integrity and value to its holders.
This problem initially arose from a rebase function that went unnoticed for years, a remnant from a preceding developer’s contract. After identifying this functionality, the current team has outlined a plan for a transparent, community-driven migration to LEASH v2. This plan includes a burn-to-claim mechanism, ensuring that holders will actively participate in the transition process by destroying old tokens to receive the new ones, thus enhancing accountability.
Moreover, the Shiba Inu blog details that the total supply of the v2 tokens is pre-mined from the start and secured within a multisig wallet. This means the migration will be conducted on a fixed basis, eliminating any risks of new token creation during the process.
Implications for Token Holders
It’s essential to note that the changes associated with LEASH v2 exclusively affect this token, while other assets in the Shiba Inu ecosystem, such as SHIB and BONE, will remain unaffected. If the migration is streamlined, with successful audits and partnerships formed with exchanges, the transition to LEASH v2 could act as a fresh start for the community.
Related Insight: Recent findings show that Bybit Exchange currently holds significant Shiba Inu balances, despite market fluctuations.
A prominent Shiba Inu analytics account on X has highlighted the proactive measures being taken by the development team, including collaboration with a reputable external auditor. The initiative also involves coordinating with various crypto exchanges to facilitate the swap and ensure user-friendly access through public testnets and bug bounties. Overall, the community’s feedback has been overwhelmingly positive, with many members expressing support on various social media platforms.
As of this writing, LEASH is trading at $52.40, reflecting an 8% decline over the last 24 hours amidst market volatility.
