The Shiba Inu improvement staff has formally rolled out LEASH v2, a brand new model of the ecosystem’s unique token designed to appropriate a long-standing provide controversy. Over the previous week, LEASH holders expressed rising considerations after a hidden rebase path within the unique contract unexpectedly elevated provide, leading to a 20%+ dilution from the 107,646 baseline. This prompted swift motion from the present Shiba Inu builders, and LEASH v2 is each a corrective measure and a possibility to revive neighborhood confidence.
LEASH v2 Brings A Hard-Capped Supply
According to Shiba Inu advertising and marketing lead Lucie, crucial change in LEASH v2 is the everlasting repair to provide manipulation dangers. Posting on the social media platform X, she defined that after migration, LEASH v2 may have a set, hard-capped provide of 107,000, precisely as initially designed. No new rebasing, no hidden minting features. This is a clear slate contract. This means token holders now not want to fret about unintentional inflations or hidden vulnerabilities undermining the shortage and worth of LEASH.
The subject stemmed from a rebase perform left within the unique contract by a departed developer 5 years in the past, which went unnoticed till the current glitch. The staff documented these mechanics and offered the neighborhood with a DAO-led route ahead of migrating to a fixed-supply, audited LEASH v2 utilizing the final trusted snapshot.
That plan additionally outlines the burn-to-claim mannequin, the place holders destroy the outdated token to assert the brand new one. After transferring to a totally immutable and audited contract, the staff has successfully sealed off this danger, turning LEASH v2 right into a extra reliable illustration of what the token was at all times meant to be.
According to the Shiba Inu weblog web site, the v2 whole provide is pre‑minted at deployment and held by a multisig. The migrator is not going to mint new LEASH v2 tokens however will transfer pre‑minted tokens out of the multisig as customers migrate from LEASH v1.
What Does This Mean For Holders?
LEASH v2 impacts solely LEASH. Other tokens (SHIB and BONE) throughout the Shiba Inu ecosystem stay untouched. If the migration proceeds easily, with audits concluded, exchanges aligned, and burn-to-claim portals functioning, LEASH v2 will turn into an easy case of resetting the clock.
Related Reading: Bybit Exchange Unveils Massive Shiba Inu Balances In The Trillions As Price Tanks
A distinguished Shibarium insights account on X identified that the staff is working with an exterior auditor. The Shiba Inu staff can also be in talks with crypto exchanges to help the swap and can stage a public testnet and bug bounty earlier than full launch. The rollout has been largely welcomed throughout the Shiba Inu neighborhood, with supportive reactions surfacing on a number of social platforms.
At the time of writing, LEASH is buying and selling at $52.40, down by 8% up to now 24 hours.
Featured picture from Getty Images, chart from Tradingview.com
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